Navigating through the rest of Bull Run
2024-12-01

In 2024, we have witnessed significant developments in Bitcoin and the cryptocurrency industry. Regulatory frameworks, such as Bitcoin and Ethereum ETFs and the Blockchain Integrity Act, indicate a clear progression toward market maturity.
In the realm of Bitcoin mining, the industry continues to expand with a growing number of miners, institutional investments like Deutsche Telekom's Bitcoin mining initiatives, and increased public investment in mining operations. At the same time, public pressure for eco-friendly practices is driving a transition toward renewable energy-powered mining. The industry's sustainability challenges intersect with regulatory and societal demands for environmentally responsible practices.
Cryptocurrencies have also emerged as tools of economic diplomacy, playing a role in geopolitical influence. The concept of Bitcoin as a strategic national asset is gaining traction, underscoring its significance in international economic strategies. Aligned regulatory policies further highlight this trend, as seen in initiatives like the Global AML Alignment between the U.S. and South Korea (June 2024). Efforts to harmonize global anti-money laundering (AML) standards are fostering international collaboration and compliance.
Decentralized finance (DeFi) platforms continue to innovate, offering new financial tools. However, they are also facing increased regulatory scrutiny. Meanwhile, the testing and development of Central Bank Digital Currencies (CBDCs) reflect governments' efforts to introduce state-backed digital currencies. While CBDCs could provide stability, they may stifle innovation in decentralized systems.
Additionally, projects like the Visa Tokenized Asset Platform are pushing the boundaries of digital currencies, extending tokenization into traditional finance and beyond.

Bitcoin has experienced substantial growth in 2024, nearing the $100,000 mark. This surge has been primarily driven by the BTC Halving, Bitcoin ETFs, and favorable momentum following the U.S. Presidential Election outcome, with potential regulatory support under the new administration.
Following this rally, there is uncertainty about whether the price will continue to climb to new all-time highs (ATH) or enter a phase of consolidation and pullbacks. One possibility is that the price could reach Target 1 before pulling back. However, a more likely scenario involves price consolidation around the current zone or a correction to the next support zone at $77,000–$84,000, where consolidation could occur.
If this support zone breaks down, the subsequent support zone at $62,500–$69,300 presents an opportunity for buying more BTC. Consolidation in this zone is possible but may not exceed three weeks. After a period of consolidation or correction, the price could move toward the following targets:
Target 1: $105,000–$111,500
Target 2: $118,500–$124,000
Target 3: $136,000–$143,100
Target 4: $150,000–$155,000
In the event of a significant price drop or market turbulence (an outcome that cannot be ruled out given the current political, geopolitical, and economic landscape) lower support zones may be tested:
Support Zone 2: $51,100–$55,100
Support Zone 3: $40,000–$44,500
My trading plan is as follows:
Sell 20% of my BTC holdings at Target 1 ($105,000–$111,500).
Sell 35% of my BTC holdings at Target 2 ($118,500–$124,000) and 3 ($136,000–$143,100).
Sell 10% of my BTC holdings at Target 4 ($150,000–$155,000).
If the price moves to support zones before reaching Targets 2, 3, and 4, I plan to accumulate more BTC in these zones.