- Bull Market Bytes
- Posts
- 💎 Your Premium Cryptocurrency Insight! (28 Dec 2024)
💎 Your Premium Cryptocurrency Insight! (28 Dec 2024)
Bullish 📈 or Bearish 📉 - 2 Projections for 2025: Celebrating 1 Year of BullMarketBytes! 🎉
Jonathan Hamblin
December 28, 2024
In partnership with
Hello and welcome back to . . .
BULL MARKET BYTES
Your byte of cryptocurrency insight where everyone is holding onto hope going into 2025 as crypto continues to decline.
Who will be the “crypto savior”? Elon Musk? Donald Trump? Oprah?
I guess time will tell . . .
📊 CRYPTOCURRENCY ANALYSIS
📌 BULL MARKET BULLETIN
Statistics as of: 28 Dec 2024 @ 9:40am EST
Today is an exciting day!
No, not because the market and my portfolio are down like they were punched by Mike Tyson . . .
IT IS OUR ONE-YEAR ANNIVERSARY! 🎉
A special thank you to all of our readers! We look forward to many more and are thankful for the support you bring!
Now back to the topic on everyone’s mind . . .
How much longer must my portfolio suffer?
For today’s newsletter, we are closing out 2024 and focusing on the hope that 2025 and the hope it should bring. 😂
But before we dive in . . .
🚨 (Alarm sounds)
Please standby for a word from today’s sponsor!
VaultCraft V2 secures $100M+ BTC from Matrixport
VaultCraft launches V2 in partnership with Safe, lands $100M+ in Bitcoin
Matrixport entrusts VaultCraft with $100M+ Bitcoin
OKX Web3 rolls out Safe Smart Vaults with $250K+ rewards
Thank you to VaultCraft for sponsoring today’s newsletter! 🙏
. . . Invest wisely, not financial advice!
MARKET OVERVIEW (7-DAY)
Source: Weekly Top Gainers by TradingView
Source: Weekly Top Losers by TradingView
BITCOIN’S TECHNICAL ANALYSIS
Let’s not panic . . .
We must remember the golden rule of cryptocurrency . . . PATIENCE!
Bitcoin’s gain since inception is 152,749,908% - but only those with patience enjoyed those types of gains!
Now while I wipe the beads of sweat from my forehead (not from panic, of course), let’s remember that 2025 is coined the “year of the crypto”.
Unfortunately, we cannot tell the future - all we can do is shake our crystal ball and study the charts.
What do the charts tell us? TWO PROJECTIONS!
One being bullish and the other bearish . . .
Source: TradingView (28 Dec 2024) Bullish Projection
Bullish Projection - We continue to hold the $92,000 area and continue forming the “cup” in the “cup and handle formation”.
As we can tell, the green candlesticks are getting shorter, and the red candlesticks are getting longer - a projection of bearish behavior.
However, we can hope that it holds, and we continue upward.
Source: TradingView (28 Dec 2024) Bearish Projection
Bearish Projection - To bring it to life, we have added a blue line showing the path within a “bear flag” formation.
This projection is more likely to occur in the upcoming days, but we are holding support (for the time being).
If Bitcoin Breaks Lower - A movement down to $80,000 - $85,000 is not far-fetched.
However, 2025 does show promise for a move towards the all-time high so let’s not panic just yet . . .
🧠 Keep in Mind! Remember the key word for today’s newsletter . . . PATIENCE!
WHAT TO ANTICIPATE
Pullbacks are healthy and they allow further movement upward.
As we stated in our previous newsletter . . .
We need to maintain above $92,000 and follow the support line towards $108,000 - we are in healthy territory.
What If We Break $92,000? Anticipate a movement back down towards the support of $80,000 - $85,000.
If We Maintain $92,000 - Our “bullish projection” above will continue to come to life towards the all-time high.
If We Break $92,000 - Our “bearish projection” above will push the price down towards support at $80,000 - $85,000.
Even if we break support—then in our opinion—it is just a detour to Bitcoin’s all-time high.
The 2025 bull run is something that we still anticipate . . .
We DO NOT BELIEVE that Bitcoin’s historic bull run has occurred yet, 2024 was just a teaser to what is to come!
🧠 Don’t Forget! When it comes to Bitcoin, zoom out the chart. Bitcoin is a marathon and not a sprint!
Source: Reddit
BULL MARKET BULLETIN 📌
AI Tokens Plunge 28% – Is a 2025 Rebound on the Horizon? Artificial Intelligence is a hot topic set to be for many years. Unfortunately, with the market pullback, AI tokens’ market cap is down 28% from the peak of $70.4B this month to $50.5B! We have also seen the overall trading volume for AI tokens fall 11% to the current $4.73B. Is interest declining in AI or is it all because of the market pullback? 🤷♂️
Why is Bitcoin Gold Dropping like a Rock? Over the past week, Bitcoin Gold has crashed over 45% leaving investors wondering what in the heck is going on! In recent days, it has been announced that Bitcoin Gold will be delisted from Upbit, the largest crypto exchange in South Korea generating over $4 billion in 24-hour volume Panic has begun . . . but is this time to panic or buy the dip? 🤔
Will the US Government Insert Bitcoin into its Treasury? As we approach 2025, when President-Elect Trump will take office - many investors are speculating how likely it will be that Bitcoin will be a reserve asset, possibly replacing gold. With this strategic reserve, the US would purchase 200,000 Bitcoin annually for 5 years until it reaches 1 million Bitcoin! (Around $94B at today’s value) Analysts are stating that it may be unlikely, but many countries are waiting to follow the US’s move on Bitcoin!
DID WE HIT THE BULLSEYE? |
