Bitcoin set for ‘insane long opportunities’ as it enters price discovery: Traders

In December 2024, Bitcoin entered a new price discovery phase, trading above its previous all-time high for nearly a month. Analyst Daan Crypto Trades highlighted that during prior cycles, Bitcoin experienced significant gains in similar phases—1,600% in 2017 and 245% in 2021. Even achieving half of the 2021 increase could propel Bitcoin's price to around $150,000.

Capriole Fund founder Charles Edwards noted that each cycle typically includes 4-7 months of substantial returns during price discovery. He identified November 2024 as the first month of this phase, during which Bitcoin surged 40% and set new monthly records. Edwards anticipated "insane long opportunities" in the ensuing months.

Historically, December has been a bullish month for Bitcoin, especially in halving years, with average returns of +28%. Analysts suggest that if these trends continue, Bitcoin could reach prices between $140,000 and $150,000 in the near future.

These developments indicate a period of significant growth and opportunity for Bitcoin investors as the cryptocurrency navigates its current price discovery phase.