A technical analysis indicator known among traders as Bitcoin Power Grid reflects that the bullish rally of bitcoin (BTC) in this cycle is far from over.
He Bitcoin Power Grid is designed for Evaluate bitcoin price rises or falls in different market cycles.
The indicator uses a scale that moves in predefined levels from 0% to 100% so that investors can detect the moments in which the price of the currency created by Satoshi Nakamoto reaches historical peaks or minimums in price.
As seen in the image shared by the technical analyst known on social networks as “CryptoCon”, the Bitcoin Power Grid It is currently at 82.5%, indicating that it has not yet reached its maximum price in this cycle.
“No maximum cycle is expected according to el Bitcoin Power Grid until reaching 100%, which would only be a ‘First Cycle Maximum’ signal. 2025 is prepared to be the best year for cryptocurrencies, as has always been said,” explained the specialist.
As seen in the graph, Every time the indicator reached 100%, the price of the asset marked an all-time high (ATH).
On December 3, the BTC price reached $108,200, its current ATH. Back then, the indicator slightly surpassed the 90% line, suggesting that if it managed to climb to 100%, bitcoin could reach a new ATH in the short term.
At the time of publication of this note, the BTC price is above $97,000.
Bullish outlook for BTC
As NoticiasVE already reported, the digital currency always reached its maximum peak in each of its cycles in the year after the halvingthe event that halves the issuance of BTC. As a consequence, there is a lower supply of the asset in the market, which generates an increase in its demand.
In other words, historically, halving attracts new investors who are interested in the scarcity and limited issuance of BTCwhich generates an upward momentum in its price.
Likewise, it should be noted that on January 20, Donald Trump will take office as president of the United States, an event that has generated enthusiasm among investors due to the promises that the Republican leader made throughout his campaign.
Specifically, he said that that country will promote friendly regulation to promote the growth of the sector and assured that it would convert the BTC seized by the government into a strategic reserve, following an example similar to that of El Salvador.
It should be remembered that Senator Cynthia Lummis presented a bill that proposes acquiring 1 million units of BTC, another factor that fuels bullish market projections.