 |
| Foto:pixabay |
VISTORBELITUNG.COM, JAKARTA. The crypto market is buzzing with renewed optimism as several top analysts and on-chain metrics point to a potentially massive rally for Bitcoin (BTC) in the final two months of 2024. The phrase "to the moon" is once again trending across social media and trading forums, sparking excitement and anticipation among investors.
After a period of consolidation, experts believe that a perfect storm of bullish factors is aligning, which could propel the world's leading cryptocurrency to new heights before the year ends.
1. The Historical Halving Effect
One of the most powerful arguments for a year-end rally is the Bitcoin Halving. The last Halving event occurred in April 2024, which cut the block reward for miners in half. Historically, the most significant price surges have not happened immediately after the Halving, but 6 to 8 months later.
"If we look at the 2016 and 2020 cycles, the real parabolic move started in the final quarter of the year following the Halving. November and December 2024 fit perfectly into that timeline," stated Markus Thielen, a leading crypto market analyst.
2. Massive Influx of Institutional Money
The floodgates for institutional investment are wider than ever. The approval of Spot Bitcoin ETFs in the US has created a constant and growing source of demand.
"Data shows that the Spot Bitcoin ETFs are buying far more BTC than what is being mined daily. This supply shock is fundamental. When you combine scarce supply with soaring demand, the only outcome is a significant price increase," explained Cynthia Revna, a fund manager at Digital Asset Holdings.
3. Positive Macroeconomic Winds
The broader financial landscape is also expected to play a crucial role. The market widely anticipates that the US Federal Reserve might begin cutting interest rates towards the end of the year or early 2025.
"When interest rates are cut, liquidity increases. This 'cheap money' often flows into high-risk, high-reward assets like Bitcoin. A dovish Fed is like rocket fuel for crypto," added Revna.
4. The 'Santa Rally' Phenomenon
The stock market has a well-documented "Santa Claus Rally," where prices tend to rise in the last week of December and the first two days of January. This seasonal trend has increasingly influenced the crypto market.
"Positive sentiment is contagious. As traditional markets cheer, retail and institutional investors gain more confidence to allocate funds to Bitcoin, creating a self-reinforcing cycle," noted an analyst from CoinGecko.
Key Resistance Level and Price Prediction
Currently, Bitcoin is seen consolidating around the $60,000 - $65,000 level, which analysts consider a strong support zone. The key resistance to watch is the all-time high near $73,800.
"Once BTC convincingly breaks above $74,000, there is very little resistance ahead. Our conservative target for year-end is between $85,000 and $90,000. However, if the buying frenzy intensifies, a push towards $100,000 is not impossible," Thielen predicted boldly.
A Word of Caution for Investors
Despite the overwhelmingly bullish predictions, experts remind investors that the crypto market remains highly volatile. A "to the moon" scenario is not guaranteed, and external factors like negative regulatory news or unexpected global economic turmoil could derail the rally.
"Always do your own research (DYOR) and never invest more than you are willing to lose. The potential is enormous, but the risks are equally real," concluded Revna.
With all eyes now on the charts, the next eight weeks are set to be a critical and potentially historic period for Bitcoin and the entire cryptocurrency ecosystem.
---
This article is for informational purposes only and is not intended as investment advice. The content is presented by TribunCrypto.com based on analyst reports and market data. Investment decisions are your own responsibility.