Bitcoin Price Forecast: Will BTC Hit $233K by Q1 2025?
Technically, Bitcoin is expected to reach $233,000, which might happen as early as the first quarter of 2025. Bitcoindata21, an analytics account, forecasted six figures for the price of bitcoin/USD using the relative strength index (RSI). Although the price of bitcoin is now settling around $65,000, the market could undergo a revolution in the upcoming months.
According to Bitcoindata21, the peak of the present bull market might be worth almost a quarter of a million dollars when the standard deviation is applied to the monthly RSI. By comparing monthly RSI readings to historical highs, which correlate to blow-off peaks on the BTC/USD exchange rate, this is made possible.
The top of the trend channel for monthly RSI is around 88.6 in Q1 2025. If you are expecting it NOT to get hit, then you believe this time is different.
Bitcoindata21
RSI Indicator Points to Bitcoin Breakout: Could BTC Hit $233K Soon?
The prediction points out that Bitcoin’s prior bull markets had quick rises near macro peaks, so such a short timeframe is not unusual in and of itself.
There is plenty of apathy and disbelief in the market right now after a long consolidation. Perfect time for price to rip higher, further than the hive mind believes. Last cycle price went from 10k to 67k in 7 months, largely driven by Grayscale buying 400k bitcoin. Now we have trillions of trad-fi dollars waiting to fomo after price discovery, and after they realise its not a triple top.
Bitcoindata21
According to Cointelegraph, traders searching for Bitcoin price breakouts commonly utilize RSI as a forward-looking signal. On shorter timeframes, TradingView and Cointelegraph Markets Pro data show that on October 15, the daily RSI was at roughly 62.7. Though not quite beyond the overbought 70 level, this was above the crucial 50 midpoint.
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