Bitcoin ATH at a new level

Bitcoin reached a new all-time high (ATH) in November 2024, breaking the $93,400 mark. This news was a landmark event for the cryptocurrency market, especially considering that the previous big rise to ATH in 2021 was around $69,000. $BTC has been sparked by several factors this year, including politicians' support for cryptocurrencies, increased interest in digital assets, and the trend toward further integration of cryptocurrencies into the traditional financial system. And now that the price is back at its peak, the question of whether to lock in positions is particularly relevant.

Why did the price of bitcoin rise?

Bitcoin's rise in 2024 has been driven by several key developments:

• Institutional interest factor: more and more institutional investors see bitcoin as a long-term asset, which is driving demand. Investment companies and funds are actively buying up $BTC, which keeps demand high and strengthens the market.
• Political support: individual leaders and government officials have expressed interest in supporting the cryptocurrency market, which has boosted confidence among private and institutional investors. One such case is Donald Trump's victory in the US presidential election, after all, supports cryptocurrencies.
• Limited supply: bitcoin is limited to 21 million coins, making it a deflationary asset. With each new halving, the supply of BTC shrinks, which supports its value in the face of rising demand.

With these factors in mind, many traders are wondering whether bitcoin should lock in profits on the back of the ATH achieved, or whether growth will continue.

Profit taking opportunities on ATH

Profit taking when ATH is reached is a popular practice among traders and long-term investors. It allows you to fix a part of your capital, especially if the BTC price starts to correct later on. For such cases, Quickex platform offers a convenient way to exchange bitcoin to USDT stablecoin without KYC and registration. This is a convenient solution for those who want to transfer their assets into a stable form and minimize risks.

Analysts' predictions for the end of 2024

Analysts' opinions on the further growth of bitcoin until the end of the year are divided, but most agree on predictions for continued growth:

1. Optimistic scenario: some experts believe that with favorable market conditions and continued support from large investors, bitcoin could reach the $100,000 mark by the end of 2024. The main argument is the continuation of the trend of institutional capital injection and the limited supply of $BTC, which stimulates further appreciation of the asset.
2. Conservative forecast: some analysts believe that the current level of about $87,000 may become a short-term maximum, after which there will be a natural correction. In this scenario, bitcoin could stabilize in the range of $70,000 to $90,000. Some traders use such corrections as an opportunity to re-enter the market.
3. Negative scenario: if unexpected factors such as harsh regulatory measures or economic crises appear, a short-term correction below the current level is possible. In such a case, experts suggest, the price could fall to $65,000-$70,000. However, given the current trends and institutional interest, the probability of such a fall remains low.

Risks and opportunities ahead of 2025

As 2025 approaches, more and more experts are paying attention to factors that could affect the bitcoin price in the long term. Institutional interest, support from tech giants and limited supply make $BTC an attractive asset, but investors must also consider the risks.

Against the backdrop of significant rate fluctuations, profit taking at current highs may be a smart move for those looking to reduce risk. Moving into $USDT stablecoin, especially without the need for registration and identity verification, allows assets to be protected from potential volatility.

Quickex is a platform that offers just such a tool, making it a convenient option for traders and long-term investors. The convenience and anonymity of exchanging bitcoin for $USDT allows users to quickly lock in the current value and prepare for potential fluctuations in the future.

Conclusion

Bitcoin's current growth and reaching a new ATH raises important questions for every market participant. Analysts differ in their assessments, but many expect either continued growth or a moderate correction until the end of 2024. With the current volatility, locking in profits and moving funds into a stable asset such as $USDT is a rational decision.

Using Quickex, it is possible to exchange BTC to USDT without registration and KYC, which simplifies the process and helps to quickly lock in profits. This is especially important against the background of expected volatility and possible market changes, because a successful asset management strategy implies readiness for any development of events.