Amid the excitement surrounding the approval of Bitcoin Spot Exchange-Traded Funds (ETFs)Polish crypto analyst Adrian Zduńczyk has shared his insights on BTC’s price action in 2024 and beyond.
Bitcoin Price Action in 2024 and Beyond
Zduńczyk, the Chief Executive Officer (CEO) of Birb Nest shared his insights in a recent interview with Thinking Crypto founder Tony Edward. In the interview, Zduńczyk revealed his short-term expectations for Bitcoin, the impact of ETF adoption and expectations after the price halving.
Zduńczyk started by drawing attention to the recent rise in the economy Bitcoin prices, while a small decrease was also noted. He emphasized the importance of distinguishing between speculation, expectations and actual trading.
He further spoke about the use of technical indicators to identify possible market reversals. These include the rate of change and the Relative Strength Index (RSI).
Zduńczyk noted how the market trend continues, pointing to crucial metrics such as the 200-day moving average. According to him, the 200-day moving average indicates a favorable trend since the beginning of the year. Bitcoin’s price is up a remarkable 190% year to date, despite a small correction. This indicates the strength of the bull market that has been present since January.
When asked about the impact of Bitcoin spot ETF on the asset’s price, he highlighted seasonal trends in Bitcoin’s performance by establishing a correlation with historical data. He explained that he would rather go with facts than opinions. This is because ‘it is difficult to comment on opinions’, which are by definition ‘different from the facts’.
Therefore, Zduńczyk has suggested that the community should focus on facts this time rather than opinions. This is because the facts depend on seasonal studies and prices do the same.
He observed the upward trend in January over time and provided an explanation for the seasonal pattern in the January barometer. As a result, he suggested an 80% chance of a favorable year if January ends well.
All-time price target after BTC halving
Zduńczyk provided insight into the possibility of Bitcoin entering a new era all-time high in 2025. He made this claim after analyzing the past four-year cycles and their relationship to the presidential stock market cycle.
The CEO stated that Bitcoin has always experienced “powerful rallies” after each halving. He further supported his claims with a chart showing BTC price increases since 2011 halve began.
Moreover, Zduńczyk emphasized that it would not be shocking to see a three- to five-fold increase after the halving of the price. However, he has expressed caution as no one knows exactly how high Bitcoin will go.
So far, Zduńczyk predicts an all-time high for BTC between $150,000 and $200,000 after the halving. Moreover, he stated that the trends are unprecedented as the price could go higher or even lower.
Featured image from iStock, chart from Tradingview.com
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