CandleFocus Bitcoin could hit $250K in 2025 – Here’s how and why
2024-10-15
Author: Content Editor
Bitcoin is predicted to reach a price of $233,000 by early 2025 based on technical on-chain data. Bitcoindata21 used the relative strength index (RSI) to estimate a six-figure value for BTC/USD. Bitcoin's current price is $65,696, up 1.2% in the last 24 hours. The prediction is supported by past highs in monthly RSI readings, which indicate blow-off peaks in BTC/USD. Bitcoindata21 believes that the current market's peak could be worth around $250,000. The predictions are driven by institutional investors and a potential FOMO effect. The market remains in a directionless channel, but a bullish outlook is favored based on a lesser-tracked "three-line break chart" and the potential for Bitcoin's monthly RSI to exceed 70. The entire crypto market is up, with a total market cap of $2.3 trillion. Investors are also monitoring the US Federal Reserve's upcoming decision.
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