As we reported as Kriptokoin.com, cryptocurrency markets gained serious momentum after the US presidential elections. The victory of pro-crypto candidates increased confidence in the industry. However, it triggered price increases in many crypto assets, including Bitcoin (BTC). In the last 24 hours, the total cryptocurrency market value increased by 2.2 percent, reaching $2.66 trillion. Bitcoin hit an all-time high of $76,243 during the Asian session. It is currently traded at $75,386.
Long Term Goals for Bitcoin
Most analysts think that BTC’s current bull market has not peaked yet. Crypto analyst Ali Charts made a prediction based on historical data. Accordingly, he states that Bitcoin reached a new peak within 8 to 12 months after exceeding its all-time high. Based on this data, he announced that the next peak will be seen between July and November 2025.
Famous analyst Peter Brandt also made a prediction for the leading crypto. According to him, Bitcoin will peak between $130,000 and $150,000 by the summer of 2025. These predictions are based on weekly and monthly Relative Strength Index (RSI) levels remaining above 70. Bitwise CIO Matt Hougan also said that this period will be the golden age of cryptocurrencies. According to him, cryptocurrencies will grow further with greater market adoption.
Strong Trading Volumes and Open Positions
Bitcoin’s transaction volume and open positions have reached record levels in recent days. Open interest (OI) increased to $45.41 billion in total. Additionally, this figure has increased by 13 percent since November 5. In particular, there is a liquidation risk of $1.26 billion in short positions. This could create buying pressure that could push the Bitcoin price up.
On the other hand, Bitcoin’s Market Value to Realized Value (MVRV) ratio is currently at 2.16. This value shows that Bitcoin is not overvalued and there is still room for upside. Considering that the MVRV ratio reached 2.87 in March, it is considered that a potential upward trend may continue in the market.
Can the Market Maintain Its Momentum?
According to market experts, the current situation for Bitcoin and other crypto assets is promising. However, as we reported as Kriptokoin.com, investors need to be careful in this market where volatility is high. However, if market conditions continue like this, we may witness Bitcoin’s next big rally.
