Bitcoin experienced massive increases during this bull market. And that of course raises the question: has the Bitcoin price already reached its top, or are there more increases in store? According to CryptoQuant analyst Avocado Onchain, the latter is the case, and Bitcoin does not appear to be overheating yet.
Bitcoin not overheated yet
“If I analyze the funding rate using a 30-day exponential moving average, there is no visible signal of overheating yet; which is so characteristic of the end of a cycle,” says Avocado Onchain.
“This implies that Bitcoin’s upward trajectory is likely to continue, and that there is still significant room to grow,” he added.
The pseudonymous analyst Rekt Capital seems to agree with that analysis. He said on December 17 that “Bitcoin has only just begun its parabolic phase of this cycle.”
In the same message, Rekt Capital claims that that phase usually lasts 300 days, and that we are now only 41 days along the way.
Not overheated at all
Avocado Onchain and Rekt Capital are not the only ones who still see room for Bitcoin to grow. Pseudonymous analyst Mister Crypto also said on December 17 that Bitcoin funding rates are “still not overheated.”
“We will be able to climb higher as long as they don’t get to 1%,” he added. In that respect, there is still plenty of hope for further increases for the Bitcoin price.
The analyst team of crypto exchange Bitfinex is also positive. They expect a Bitcoin price of $200,000 by 2025, and expect corrections to be mild and short-lived.
If everything goes according to these gentlemen’s plan, we can expect a great 2025 with Bitcoin.
Claim €10 free and have a chance to win €400 in Ethereum (ETH)!
Grab this unique opportunity with Newsbit and Bitvavo! Create an account now via the button below, deposit €10 and immediately receive €10 free. But that’s not all: by trading at least €200 between December 16 and 22, you automatically have a chance to win as much as €400 in Ethereum (ETH). This promotion is valid for both new and existing customers!
Claim your €10 free for a chance to win €400 in Ethereum (ETH)
Don’t miss this opportunity to immediately benefit from the growing popularity of Crypto!
Source: https://newsbit.nl/analist-de-bullmarkt-van-bitcoin-zit-niet-in-de-laatste-fase/
