The cryptocurrency pioneer Bitcoin (BTC) has once again demonstrated its resilience, holding firm between its two most recent all-time high (ATH) prices. This comes after the digital asset set new records, reaching a peak of $76,460, just a day after hitting a previous high of $75,011. Remarkably, this surge has coincided with the U.S. presidential election, which saw the victory of Donald Trump, a candidate known for his pro-cryptocurrency stance.
Members of the global crypto community have interpreted Trump’s win as the ignition of a crypto supercycle. The expectation is for Bitcoin to frequently set new highs, a phase reminiscent of the powerful rallies seen in 2020. The sentiment, therefore, is bullish, with analysts forecasting Bitcoin prices to reach between $100,000 and $150,000 by the end of Q4. This optimism has also fueled predictions for higher Bitcoin prices in 2025.
The market is currently in what is often referred to as the ‘golden pocket’ phase, a period that traditionally offers high-risk, high-reward opportunities for traders. This period spans the time between the U.S. Presidential Election Day and the U.S. Presidential Inauguration Day. Coupled with strong technical signals, these indicators lend credence to the forecast that Bitcoin could hit six figures by the end of Q4.
This bullish wave is not confined to Bitcoin alone. The altcoin market is also feeling the positive effects, with several altcoins showing highly positive chart signals. This suggests a promising altseason may be on the horizon for early 2025, potentially driving altcoins to new record highs alongside Bitcoin.
Among the altcoins, Ethereum (ETH) has been a standout performer. Ethereum has broken out, signaling the start of the next leg of its bull run. Analysts are predicting major movements in the coming weeks and months. If this bullish momentum continues, Ethereum’s price could surpass $4,080 and potentially reach highs of $4,800 — a staggering 60% increase from its current price.
These developments have certainly piqued the interest of both seasoned investors and newcomers alike. However, as with any investment, caution must be exercised when entering the volatile world of cryptocurrencies. It is essential to conduct thorough research and, where possible, seek advice from financial professionals. As the market evolves, it will be fascinating to see how Bitcoin and the broader cryptocurrency market performs in the coming months.
