The New Year has arrived, and we need strategies and visions for the journey of the upcoming year to achieve remarkable success. So let’s analyze the long-term trend of Bitcoin in 2024.
As you can see from the chart, the Bitcoin’s explosive growth in the years 2020-2021 is partly due to the inflation of the USD. Faced with the risk of inflation, people began to shift their investments to scarce assets, with a limited supply, such as gold and Bitcoin.
However, in 2022, the price of Bitcoin experienced a decline, confirming the downtrend from T1 to L1 (corrective wave in the million-dollar pattern). Although there was a rebound in 2023, the forecast for 2024 suggests that the downward trend will continue to dominate (trending from B to C – corrective wave a-b-c).
Therefore, stay tuned for weekly updates on Bitcoin price.
Wishing all investors a breakthrough year of growth!
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