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As the market approaches the end of 2024, the cryptocurrency landscape is buzzing with speculation and anticipation. A recent report from data aggregator CoinGecko provided a comprehensive analysis of what investors can expect in 2025.
With the market witnessing great revisionmany industry participants are left wondering what their next steps are. However, CoinGecko’s insights point to a promising path ahead.
The broader signs of the cryptocurrency market point to significant growth
One of the highlights Predictions Centered around Bitcoin (BTC), the leading cryptocurrency. The report indicates that Bitcoin is in a positive position within the logarithmic analysis of the monthly chart, revealing a steady upward movement within an ascending channel.
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currently, Bitcoin The price is approaching a pivot point within this channel, which reflects patterns observed during previous bullish cycles. Optimistically, the analysis predicts that Bitcoin will rise to $250,000, reflecting a staggering 154% increase.
This prediction is closely aligned with historical trends observed after Bitcoin halving events, where supply constraints often lead to higher prices. Such an achievement will not only boost Bitcoin dominance in the cryptocurrency market but is also attracting a wave of new investors.
The broader cryptocurrency market is also showing signs of significant growth. The total market cap is currently moving in a rising wedge pattern, which has historically been a precursor to significant bullish rallies.
Altcoin season on the horizon?
In a more detailed look at the market, the report highlights the total market capitalization of cryptocurrencies outside the top ten.
This sector has reportedly formed a classic “cup and handle” pattern on the monthly chart. Currently, it is testing a crucial resistance level of $370 billion.
A break above this limit could result in a significant 317% spike, which could push the total cap to $1.6 trillion. Such a move would signal the beginning of what many are calling a “strong altcoin season,” where less popular altcoins operate Cryptocurrencies You could see big gains.
Several key milestones from 2024 are expected to drive this projected growth. The Bitcoin halving event, which historically leads to supply constraints, is expected to play a crucial role.
In addition, approvals are expected for Exchange-traded funds According to the report, ETFs for currencies like XRP, Litecoin or Solana could increase the legitimacy of Bitcoin and other cryptocurrencies in the eyes of mainstream investors.
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CoinGecko also points to political factors, such as pro-digital asset policies pursued by influential figures such as President-elect Donald Trump, which may also create an environment conducive to growth. As cryptocurrencies begin to integrate more deeply into economic frameworks, their adoption is likely to rise.
At the time of writing, the total cryptocurrency market cap is $3.22 trillion. Bitcoin, which is trading at $94,456, recorded losses of 1.8% and 3% on the 24 and seven-day time frames, respectively.
Featured image of DALL-E, chart from TradingView.com
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