Bitcoin concludes 2024 at a robust level, valued at US$ 92,000, even after a 13.2% retracement from the all-time high of US$ 106,000 recorded in December. With an accumulated appreciation of 110% this year, the cryptocurrency maintains its position as one of the most profitable investments in the financial market, establishing itself as a strategic asset in diversified portfolios.
For Israel Buzaym, communication director of the Bity Group, 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 maintain its relevance in the market," he/she/they highlights.
The correction observed at the end of the year reflects not only the natural adjustment of an upward cycle but also the 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 is natural to see fluctuations as the 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, the director of the Bity Group highlights the recovery potential: "If there is a recovery and the asset breaks above $100,000 again, the scenario for new highs will be strengthened, especially with the halving scheduled for 2025."
Buzaym also highlights that Bitcoin’s fundamentals remain solid: “The asset is increasingly integrated as a store of value in large portfolios, in addition to having growing institutional adoption and regulatory advances in key markets. These elements, combined with the reduction in issuance after the halving, could catalyze a new appreciation cycle.”
Despite fluctuations, Bitcoin ends 2024 with an impressive performance, reinforcing its position as a resilient and prominent asset in the global market. Looking ahead to 2025, the focus should be on continuing the development of a more mature and accessible market, capable of sustaining upward trends more consistently," concludes Buzaym.
