Cryptonews Price Analysis

Exec Declares Bitcoin the Most Reliable Money Ever – $1 Million BTC Possible?

Bitcoin

Cryptocurrency

Crypto Writer

Arslan Butt

Crypto Writer

Arslan Butt

About Author

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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Last updated:

January 7, 2025

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Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Bitcoin Price Analysis

After a turbulent year-end crash in 2024, Bitcoin (BTC) is regaining its momentum as 2025 unfolds, sparking optimism across the cryptocurrency market. Altcoins have followed suit, bolstering confidence in the broader crypto ecosystem.

BTC’s recovery is driven by key developments, including institutional adoption, macroeconomic shifts, and technological milestones.

Bitcoin’s Milestone Achievements

$19 Trillion Processed in 2024

In 2024, Bitcoin’s network processed over $19 trillion in transactions, more than double the $8.7 trillion in 2023. Pierre Rochard, Vice President of Research at Riot Platforms, highlighted this milestone, calling Bitcoin “the most reliable monetary system in the world for savings and payments.”

Bitcoin is engineered to be the most reliable monetary system in the world for savings and payments.
— Pierre Rochard (@BitcoinPierre) January 5, 2025

This achievement underscores Bitcoin’s dual role as a store of value and a medium of exchange, despite recent market turbulence.

Institutional Adoption and ETF Approval

The U.S. approval of Bitcoin exchange-traded funds (ETFs) marked a turning point for the asset. Institutional inflows surged, expanding Bitcoin’s appeal among mainstream investors.

These ETFs provided a seamless avenue for large-scale investment, boosting liquidity and stabilizing market sentiment.

The Bitcoin network finalized more than $19 trillion worth of BTC transactions in 2024, decisively proving that bitcoin is both a store-of-value and a medium-of-exchange. pic.twitter.com/NqPI8Db1We
— Pierre Rochard (@BitcoinPierre) January 4, 2025

Key Drivers of Bitcoin’s Performance

Halving and Scarcity

April 2024 saw Bitcoin’s halving event, which reduced mining rewards by 50%. This built-in scarcity mechanism strengthened Bitcoin’s long-term value proposition, intensifying demand among investors seeking inflation-resistant assets.

Geopolitical Dynamics: The “Trump Pump”

The U.S. presidential election fueled speculation about Bitcoin’s potential inclusion in a national strategic reserve. This “Trump pump” amplified global interest, prompting other nations to explore similar Bitcoin-based strategies, cementing its role in economic policy discussions.

Market Volatility: Peaks and Dips

Bitcoin surged to a record $108,000 in 2024, but its inherent volatility brought the price down to $91,000 by year-end. The correction served as a reminder of Bitcoin’s unpredictable nature, even amid bullish macro trends.

Daily Technical Outlook: January 7, 2025

Bitcoin is trading at $100,861, up 1.36% over the past 24 hours, signaling a steady recovery. On the 4-hour chart, BTC has climbed above its 50-day EMA of $98,020, indicating a bullish bias.

However, the price remains capped below the critical resistance of $102,523.

Resistance Levels: $102,523, $105,801
Support Levels: $98,020, $97,324, $94,758
Momentum Indicators: RSI remains neutral, suggesting consolidation.

A decisive breakout above $102,523 could propel BTC toward $105,801, while a failure to sustain momentum may test lower support levels.

$BEST Wallet: Web3 Simplified, $6.6M Raised in Presale

Best Wallet is transforming the Web3 experience with its revolutionary platform, supporting thousands of cryptocurrencies across 50+ major blockchains, including Bitcoin and Ethereum. Users can securely buy, sell, and swap assets seamlessly within and across chains, all without KYC verification.

The $BEST token presale has now raised an impressive $6.6M, with just 15 hours and 40 minutes remaining until the next price increase. Currently priced at $0.0235, $BEST offers exclusive rewards and early access to ecosystem projects.

Why Invest in $BEST?

Utility-Driven: Designed for seamless use in DeFi, staking, and token claims.
Early-Mover Advantage: Gain access to presale perks and exclusive project launches.
Expanding Ecosystem: Rapidly growing community with partnerships on trending platforms like Pepe Unchained.

Best Wallet continues to attract attention, as reflected by active engagement on its Twitter and Telegram channels.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.