Bitcoin continued to rise after experiencing brief fluctuations this morning (23rd). At the time of writing, it exceeded US$64,600, which is only one step away from the record of US$65,000 set in mid-August.
As the market seems to be stimulated by the Federal Reserve's interest rate cuts, well-known trader analyst Titan of Crypto expressed a bullish view on the X platform over the weekend, saying that Bitcoin prices are expected to rise by about 35% by the end of the year, and set a medium-term target of 85,000 Dollar. He pointed out:
"A weekly RSI breakout means Bitcoin will have an explosive trend before the end of the year."
He also added: "Historical data shows that when September closes in the green, the fourth quarter usually shows a strong upward trend. If Bitcoin can close above $59,000 this month, a bull market at the end of the year can be expected."
The Bitcoin-to-gold ratio may rise sharply, with analysts predicting a 400% increase
In addition to the price trend of Bitcoin, Peter Brandt, a veteran analyst and founder of Factor Trading who successfully predicted the Bitcoin crash in 2018, is also extremely bullish on the ratio of Bitcoin to gold. He posted on the X platform that according to the technical analysis of the inverted head and shoulders pattern (IH&S), the ratio of Bitcoin to gold is expected to rise by more than 400% in 2025.
He predicted that the price of 1 BTC could reach 123 ounces of gold as early as 2025, which would be a more than fourfold increase compared to 24 ounces on September 22, 2024.
Ethereum active addresses fall to lowest point of the year
In contrast, although the price of Ethereum (ETH) also continues to rise, the number of active accounts on the network has dropped to its lowest point during the year, about 385,000, according to data reported by The Block. This number has been the lowest since December 2023. lowest value since.
Recently, Bitwise Chief Information Officer Matt Hougan pointed out: "No one likes Ethereum right now" and described it as a possible "contrarian investment" opportunity.
