The world’s most well-known cryptocurrency, Bitcoin, is about to do something significant, but no one knows what it will be yet. A number of experts have different ideas about whether Bitcoin will go up in price or stay in its current state of consolidation.
A well-known crypto expert named Checkmate has given people hope with his “Euphoric Bull” theory. It says that if the market goes to a new all-time high, people may feel very different about it. The Market Value to Realized Value (MVRV) number gives us this idea.
It compares how much Bitcoin is worth now to how much it cost to buy all the tokens that are already in use. Many years ago, when the MVRV ratio was above one standard deviation of its average, prices would often enter a “Euphoric Bull” phase. This means that there is more energy to go up, and prices did go up.
Bitcoin’s Near-Term Outlook
But Checkmate says Bitcoin might not take off right away. Most of the time, the market is cautious, and Bitcoin may try the important MVRV level more than once before making a clear move.
Bitcoin has been going up since six weeks ago, but it has lately stopped going up. Bitcoin is still close to $70,000, even though there was a small drop. This is because lots of people trade it every day. This makes buyers and traders worried because it means there might be a short break before the next major move.
They were joined by analysts at Rekt Capital, who also shared their ideas. For Rekt Capital, a weekly candle ending above $71,500 could cause a big breakout. This would boost bullish momentum and make it clear that BTC is going up. Still, Rekt Capital knows that the recovery phase could last for a long time.
They say that BTC has a history of staying in the area where it is re-accumulating for weeks before it breaks out. This longer period of time might fit with BTC previous half cycles, which have always happened before major bull runs.
A little further out, some experts believe that 2025 might be a great year for Bitcoin. High-end estimates say prices could reach $168,459, based on how prices have moved in the past and how half Bitcoin prices typically move. It looks like the market is “Bullish” and there is “Extreme Greed” right now.
But watch out. numbers range from a low of $69,971 to a high of $168,459. This shows how rough these numbers are. Bitcoin’s price has changed 4.47% in the last 30 days, which shows how changeable it is. This makes it even harder to guess what will happen. Investors trust each other a lot, which makes it more possible that the market will go down.
