Bitcoin price is possibly gearing up for a sharp price surge in the coming 1-2 months, according to CryptoQuant research. The report finds a rare “golden cross” signal in the SOPR Ratio indicator. The indicator reportedly appears only once or twice during a bull market, which could push Bitcoin price to new heights by early 2025. Bitcoin price set to rise in 1-2 months Bitcoin price is expected to rise sharply within the next 1-2 months , according to research by CryptoQuant . According to analyst Crypto Dan, the “golden cross” signal of the SOPR Ratio indicator has appeared. The ratio indicates a bull market and tracks profits and losses in Bitcoin transactions. The analyst explains, “This signal occurs only once or twice in the entire upward cycle, and it is the second positive signal in the current upward cycle that started in January 2023.” Historically, Bitcoin price surged within two months of the signal appearance. Since this is the second time this signal has appeared in the current market cycle, the rise could be steep. Strong rise in #Bitcoin is expected within 1-2 months “This signal occurs only once or twice in the entire upward cycle, and it is the second positive signal in the current upward cycle that started in January 2023.” – By @DanCoinInvestor Full post 👇 https://t.co/pFpGEAnAOh pic.twitter.com/cvZnXCs4Fh — CryptoQuant.com (@cryptoquant_com) December 2, 2024 The analyst says that in the later stages, the price increases tend to become larger and corrections are shorter. If the surge happens as predicted, more money and new investors would help with the price rise . Which in turn can reportedly push Bitcoin to its peak price by late 2024 or early 2025. Meanwhile, another signal will make the investors optimistic about Bitcoin price. The amount of Bitcoin held on exchanges, given by exchange reserves, is at a record low while the BTC price is at a record-high range. BTC exchange flows signal Bitcoin price rise | Source:CryptoQuant The charts show the 7-day moving average has been decreasing over time. These figures haven’t been seen in between 2022 and 2024 until now. In simple terms, the SMA hints at fewer Bitcoins for investors. Since there is a supply shortage, less BTC will be available for trading or selling on these exchanges. Bumper Q4 for Bitcoin Bitcoin price has been consistently rising in Q4 2024 and almost inched to breach the $100,000 level. With prices going up and exchange reserves going down, the demand for Bitcoin is a strong bullish indicator. This also means that people might be buying and moving their Bitcoins off exchanges to ‘ hodl .’ The weekly asset flow report by CoinShares revealed strong inflows since early September. Bitcoin only recently lost its momentum briefly . The report says that investors have withdrawn $457 million in the last week, likely an indicator of profit-taking. The Bitcoin Relative Strength Index (RSI) also indicates the momentum since September. By the end of October, the RSI started rising above 70, signaling an overbought market condition. After reaching the peak of around 84, the RSI began to fall. However, 14 close average remains around 70 at the time of writing. This again indicates resilient demand. There are macro factors also behind this surge. In a recent piece, Dr Thomas Gift from UCL Political Science stated , “Aside from politicians’ promises, a number of other reasons explain why many bitcoiners are poising themselves for a Trump-fuelled bull run.” He circles on continued money printing by the Fed, expected crypto clarity through Trump’s election victory and institutional adoption as reasons for Bitcoin price rise. While some investors have already taken profits, the market is unhinged and even more fueled, setting the stage for Bitcoin to reach its peak in this cycle. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
