The price of Bitcoin has finally achieved a bullish technical breakout of $100,000 and is therefore continuing its price discovery phase. As part of this bull run, what are the next technical objectives beyond $100,000?
Bitcoin, undisputed leader of the year on the stock market
The stock market year is almost over and the traditional end-of-year review exercise and stock market forecast for the following year will begin.
The results for 2024 are clear: it is a year of attractiveness for risk with strong upward performances in the equity market (except the CAC 40 index) and the cryptocurrency market. This bullish performance was essentially achieved well before Donald Trump's victory in the presidential election, and the latter then allowed the market's rise to further develop.
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Summary: the price of Bitcoin is the indisputable leader of this stock market year 2024 with a performance which now exceeds 119% and which represents more than three times the performance of the major stock indices, which are leaders in the global equity market this year.
It is interesting to note that the dominance of BTC has nevertheless declined in recent weeks, allowing broader participation of altcoins in the general party. In terms of performance, the price of Ether has also started its relative catch-up phase, the BNB token has also entered the price discovery phase and Solana should follow very soon.
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Chart which reveals a comparison of the performance of different asset classes on the stock market this year 2024
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Technical course objectives beyond $100,000
The BTC bull run continues to be part of a cycle repetition pattern, the famous 4-year cycle of Bitcoin which is forged around the halving event.
With the passing of the old historical record following Donald Trump's victory in the presidential election, the market has entered the last phase of this 4-year cycle which sees the alternation of bear market phases (1 year in average) and bullish phase (3 years on average including 1 year of so-called bull run phase).
It is this bull run phase that interests us because it will allow the price of Bitcoin to seek price targets beyond $100,000.
I invite you to watch my latest video “Cryptoast Technical Briefing” on the Cryptoast YouTube channel in which I included all the objectives for Bitcoin in terms of time and price for the year 2025.
I estimate that $200,000 is the median target to aim for in this bullish cycle which should end between August 2025 and October 2025.
Immediately, for short-term price action, if the bullish technical breakout of $100,000 is confirmed at the close, then the new committed technical targets are at $105,000 and $109,000 for this month. December.
4-year bullish cycle of Bitcoin's underlying uptrend since 2010 with weekly Japanese BTC candles and on a logarithmic scale
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Investments in cryptocurrencies are risky. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital
Vincent Ganne is a recognized expert in technical analysis with 18 years of experience. He frequently speaks on BFM Business and produces exclusive analyzes for Cryptoast Research. Drawing on his extensive experience, Vincent offers a holistic approach to financial markets, taking into account macroeconomic events and using many aspects of graphical analysis to forecast trends in Bitcoin and other cryptocurrencies in the medium to long term. He also held the position of Senior Market Analyst & Business Development Manager for 3 years at TradingView, strengthening his in-depth knowledge of financial markets.
Vincent Ganne
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