Bitcoin concludes 2024 at a robust level, priced at $92,000, even after a 13.2% retracement from the all-time high of $106,000 recorded in December. With an accumulated appreciation of 110% for the year, the cryptocurrency maintains its position as one of the most profitable investments in the financial market, solidifying itself as a strategic asset in diversified portfolios.
For Israel Buzaym, communications director at Grupo Bity, Bitcoin’s performance in 2024 reflects its resilience, even in a challenging global economic scenario marked by high inflation and rising interest rates. “Although these conditions have led many investors to prefer more predictable assets, Bitcoin has proven that it continues to attract strong institutional interest and maintains its relevance in the market,” he highlights.
The correction observed at the end of the year reflects not only the natural adjustment of a bull cycle but also profit-taking by large investors who entered the market in 2023 and 2024. For Buzaym, this movement is healthy: “The market is maturing, and it’s natural to see fluctuations as regulatory infrastructure and institutional adoption evolve. These corrections are opportunities for technical strengthening.”
In the short term, the market is closely monitoring the technical support at $90,000. If lost, prices could retreat to levels such as $86,000 or even $73,000. However, Grupo Bity’s director highlights the potential for recovery: “If there is a rebound and the asset breaks through $100,000 again, the scenario for new highs will be strengthened, especially with the halving expected in 2025.”
Buzaym also emphasizes that Bitcoin’s fundamentals remain strong: “The asset is increasingly integrated as a store of value in large portfolios, along with growing institutional adoption and regulatory advancements in key markets. These elements, combined with the reduced supply after the halving, could catalyze a new appreciation cycle.”
Despite the fluctuations, Bitcoin ends 2024 with an impressive performance, reinforcing its position as a resilient and standout asset in the global market. “Looking ahead to 2025, the focus should be on continuing to build a more mature and accessible market, capable of sustaining upward trends more consistently,” concludes Buzaym.
