30/12/24 Weekly outlook
2024-12-30
Category: None

Last weeks high: $99,988.07
Last weeks low: $92,529.54
Midpoint: $96,258.81

As the year comes to an end, we have a split week with new years day landing on Wednesday. The yearly candle starts @ $42,300, blasted past the previous ATH @ $69,000 and is now $90,000-100,000 a huge climb in the second straight green year for Bitcoin, all eyes on the yearly close!

Historically the yearly close can be fairly uneventful as some portfolio rebalancing & tax implications are taken into account in some countries around the world, so for BTC to close around the current price would be very positive. 

Going into 2025, history suggests that the 3rd year of a Bullrun is the final year and so part of planning for 2025 will include some sort of exit strategy. Now I do believe that crypto is here to stay long term and this year has proven that with mainstream ETFs, government acceptance and in some case embrace, also businesses adding BTC to their balance sheet and more and companies accepting crypto as payment. All extremely positive for the space cementing cryptos mass adoption. 

For this week if we do see any move of note I believe it will be later in the week once the bigger players return to work, but I'm also conscious of January 20th when the presidential inauguration takes place. After that date there really shouldn't be too much holding back the continuation of the Bullrun. 

