bullish

Bitcoin

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>) recorded a 129% year-to-date gain, primarily driven by the outcome of the 2024 United States Presidential election and the April 2024 halving event.
According to data from ICO Analytics, Bitcoin also experienced a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-26k-record-monthly-btc-price-gain" rel="noopener noreferrer nofollow" target="null" text="null" title="null">37% gain in November 2024</a>. The ICO Analytics data measured monthly Bitcoin performance between 2011-2024 and revealed only three other years where Bitcoin experienced higher percentage gains for November.
These included 2013, with a staggering 459% gain, 2017 at 54%, and 2020, where Bitcoin recorded a 42% gain during the month.
The price performance of the decentralized, supply-capped asset is on schedule with other halving years, in which the price of Bitcoin begins to climb approximately six months after the halving event.
<figure><img alt="Bitcoin records 129% year-to-date gain seven months after halving" src="https://s3.cointelegraph.com/uploads/2024-12/01938346-8441-7696-8f6f-d68580e7bd9d" title="">
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 Bitcoin monthly performance 2011-2024. Source: <a data-ct-non-breakable="null" href="https://t.me/ico_analytic/5417" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://t.me/ico_analytic/5417">ICO Analytics</a>
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-nears-100k-defying-415-death-predictions" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin was pronounced dead 415 times, now it battles for $100K</a>
<h2 id="the-battle-for-100k-and-beyond">The battle for $100K and beyond</h2>
Analysts are patiently eyeing a $100,000 Bitcoin price point, which is an important psychological level. However, the race to $100K is proving easier said than done, with the price of Bitcoin crossing $99,000 on November 22, only to retrace back down to the $96,000-$98,000 range.
On November 29, Bitcoin futures on the Chicago Mercantile Exchange (CME) <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-cme-futures-hit-100-k-for-the-second-time-in-5-days-will-btc-spot-price-follow" rel="noopener noreferrer nofollow" target="null" text="null" title="null">reached $100,200 for the second time</a> within seven days — prompting analysts to speculate that the spot price could soon rise to that level.
Despite the rising prices of Bitcoin futures, Bitcoin dominance is falling. On November 30, 2024, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-dominance-altseason-xrp-rally-2025" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin dominance fell to 56.1%</a>. This signals that Bitcoin investors are taking profits and rotating into altcoins and the potential start of altcoin season.
<figure><img alt="Bitcoin records 129% year-to-date gain seven months after halving" src="https://s3.cointelegraph.com/uploads/2024-12/01938349-0787-70e9-bcca-8dc53f9274cc" title="">
 <figcaption style="text-align: center;">
 Bitcoin current price action. Source: <a data-ct-non-breakable="null" href="https://www.tradingview.com/chart/g7xkPkTa/?symbol=BITSTAMP%3ABTCUSD" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://www.tradingview.com/chart/g7xkPkTa/?symbol=BITSTAMP%3ABTCUSD">TradingView</a>
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CEO of Global Macro Investor Raoul Pal recently <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-liquidity-index-110k-top-january-2025" rel="noopener noreferrer nofollow" target="null" text="null" title="null">forecasted a $110,000 local top</a> for Bitcoin that he predicts will occur before the end of January 2025. Pal also predicted that the price of Bitcoin would peak sometime during the end of 2025.
Bitcoin advocate Samson Mow also told Cointelegraph that the $100,000 price level may be the point where the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-100-k-samson-mow-predicts-omega-candle-era" rel="noopener noreferrer nofollow" target="null" text="null" title="null">"Omega Candle" manifests</a>. For context, Mow's "Omega Candle" or "God Candle" refers to an incredibly rapid rise in Bitcoin's price that could take Bitcoin to $1 million or more per coin.
According to Mow, the price of Bitcoin may rise by as much as $10,000 per day during the Omega Candle era as nation-states, institutions, and retail traders pile into Bitcoin to secure a piece of the pie.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-dominance-crypto-predictions-bull-run-benjamin-cowen-hall-of-flame/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin dominance will fall in 2025: Benjamin Cowen, X Hall of Flame</a>

Bitcoin records 129% year-to-date gain seven months after halving

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Cointelegraph

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