Bitcoin (BTC) $96,276.81Will not enter a negative market process during the year 2024. The CEO of Cryptoquant, Crypto Money Analysis, foresee that the rise would continue by evaluating price movements and cost foundations. Bitcoin’s cost levels were examined according to different investor groups. In the light of historical data, it was emphasized that there was a strong support in the current price range.
Bitcoin’s cost foundations and price dynamics
In the analysis by Cryptoquant, the cost averages of Bitcoin investors were discussed. The cost level of Bitcoin assets in ETF and storage wallets was calculated as $ 89,000. For stock market users, this was determined by an average of $ 59,000 and approximately $ 57,000 for mining companies.
When these cost levels were fell below, the market was confirmed with past data that followed a negative course. In addition, the cost level of former investor groups was 25,000 dollars. However, Bitcoin has never declined to this level before. Corporate investor Microstrategy’s average Bitcoin cost was reported to be $ 65,033. It was evaluated that these levels shape Bitcoin price movements.
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Bitcoin price movements and future expectations
According to instant data, Bitcoin is traded at $ 95,930. In the last 24 hours, an increase of more than 2 %was recorded, while a slight retreat on a weekly basis. The highest level of all time is about 12 %low than $ 108,786.
Cryptoquant CEO, Young Ju, said Bitcoin could move in a large price range for 2025. However, based on past data, he said there would be no decrease in 2024. In his opinion, he said that Bitcoin could maintain a rise trend, even if he declined by 30 %from the summit of the entire time.
The general dynamics of the market, the positions of corporate investors and the cost foundations have a significant impact on Bitcoin’s price movements. Investors continue to follow market trends considering historical cycles.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
