This week, Bitcoin reached new heights, with experts confident about the cryptocurrency's steady growth without signs of overheating.
Current Market Analysis
Alex Thorn from Galaxy Research points out a lack of overheating signs from fundamental perspectives. Similarly, Aurelie Barthere from Nansen noted that Bitcoin's surge past its peak on substantial trading volume reflects robust market momentum, especially after the U.S. elections, which likely boosted traders' risk appetite.
Future Bitcoin Expectations
Thorn forecasts that Bitcoin and altcoins are likely to trade well above current levels within the next 12 to 18 months. Technical analyses suggest a potential rise between $78,000 and $85,000, while the current price hovers around $76,000. Matthew Hyland remarked that Bitcoin's ability to consolidate above the previous peak of $73,679 indicates a positive trajectory.
Outlook for the Coming Weeks
The upcoming weeks will provide more insights into Bitcoin’s sustainability at elevated levels as additional market data surfaces, helping to clarify ongoing trends.
Experts remain optimistic about Bitcoin's prospects in the coming months, anticipating further increases in the cryptocurrency's value.
