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With the overall market valuation down roughly 30% from its March 2024 high of $2.89 trillion, the cryptocurrency market is reaching a tipping point.
Investors are concerned because the market capitalization as of September 8, 2024, is $1.93 trillion. However, a recent btc price forecast indicates that bitcoin is expected to rise by 83.70% in the next three months, indicating a possible recovery.
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Although bitcoin” target=”_blank” rel=”nofollow”>bitcoin has lost a quarter from its all-time high of $74,000, analysts like Alan Santana believe a major recovery is just around the corner.
The latest bitcoin/predictions” target=”_blank” rel=”nofollow”>btc Price Forecast On the other hand, data from CoinCheckup shows that bitcoin will increase by 80% in the next three months and may therefore also reflect its possible comeback.
bitcoin, now trading at $54,320, has lost 25% from its high of $74,000 but is poised for a strong rally, Santana said.
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When will bitcoin hit $100,000? New ATH and more (The world's best crypto analysis!) twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw” rel=”nofollow”>#bitcoin
bitcoin will hit $100,000 in 2025… I’ll explain how it all plays out in a few minutes.
How are you feeling on this beautiful Saturday/Sunday? image.twitter.com/xNaZSBOfKx
—Alan Santana (@lamatrades1111) twitter.com/lamatrades1111/status/1832599580141039716?ref_src=twsrc%5Etfw” rel=”nofollow”>September 8, 2024
Santana believes bitcoin could hit $100,000 by 2025. The ongoing correction does not deter the analyst from being so optimistic about the long-term outlook for the leading cryptocurrency.
At the same time, he warns that this downtrend is not over yet and that investors should expect some turbulence before seeing a more sustained uptrend.
Market sentiment and short-term outlook
According to the latest forecasts, bitcoin's value is currently 44% below its estimated value for the next month. However, a short-term bullish trend is expected over the next seven days. In three months, bitcoin is projected to skyrocket by 83%, showing signs of recovering from its recent poor performance.
Santana believes that although the price movement of bitcoin will not be fast, it would stabilize the market after surviving the fluctuations and swings.
bitcoin’s advance will be relatively slow for the rest of 2024, and this would give altcoins room to start outperforming btc in the interim. That said, altcoins could also offer higher returns for investors who look beyond bitcoin’s gradual recovery once the market enters its accumulation phase later in the year.
Could other currencies overtake bitcoin?
While bitcoin might still be the leading cryptocurrency, some altcoins like ethereum could shine in the not-too-distant future. However, there is a silver lining if certain market conditions move in its favor.
This could open a window of opportunity for other cryptocurrencies that could outperform bitcoin as investors begin to diversify their portfolios.
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Long-term predictions: a slow climb to $100,000
Long-term forecasts for bitcoin would show continued acceleration of growth. The forecasts indicate a bitcoin/predictions” target=”_blank” rel=”nofollow”>91% increase in six monthsso by early March or April 2025, bitcoin could reach $100,000.
This, according to Santana, is not an overnight jump, but rather an upward trend due to improving market conditions and institutional interest.
A new all-time high by the end of 2025 is likely to be somewhere between $150,000 and $220,000, depending on factors such as inflation and market sentiment.
While long-term projections are favorable, Santana urges caution regarding activity in the near future as volatility remains high and the current market downturn has not yet fully run its course.
Featured image from Pexels, chart from TradingView
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