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Bitcoin Today 01/09/2025: models indicate when BTC will reach US$ 1 million
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For the third consecutive day, the Top 10 of cryptocurrencies recorded heavy casualties arising from the recent correction. According to CoinGecko, the Bitcoin (BTC) lost 2.6% and fell to $93,511. With this drop, the cryptocurrency has already accumulated a drop of 3.3% in the week and 4.4% in January.
The biggest devaluation was Cardano (ADA), whose price fell 8.8%and Dogecoin (DOGE) had losses of 5.9%. THE Ethereum (ETH), in turn, depreciated 0.9% and its price opened the day at US$3,313. In the Top 100, the memecoin AI16Z also continued to fall sharply and led the day’s losses, falling more than 19%.
Already the settlements of the market had a reduction, but still added US$491 million in closed positions. The majority ($343 million) came from long positions, of which Bitcoin alone accounted for $142 million. ETH liquidated $88 million and occupied the second position.
With the new corrections, traders’ optimism about the appreciation of BTC also decreased, reflecting the nine-point drop in the Crypto Fear & Greed Indexwhich went from 78 to 69. In other words, it left the “extreme greed” and dropped to “greed“. And some models are already betting that significant appreciation of Bitcoin will not occur in 2025.
Bitcoin worth $1 million… in nine years
THE arrival of Bitcoin at US$ 100 thousand in 2024 raised expectations in relation to 2025 – perhaps exaggeratedly. Many analyzes went beyond optimism and predicted that BTC would reach US$1 million this cycle.
Even now, with the market down, more bold and extravagant price predictions are shared in the market. Some increase the sentiments of cryptocurrency enthusiasts and others spread the fear of a fall. However, Quantile attempted to estimate when BTC will reach $1 million. And, according to them, this will not happen in 2025.
The new Quantile Bitcoin model rules out such overly optimistic predictions. His statistical perspective states that the possibility of BTC reaching $1 million by 2025 is “extremely low“.
The findings recognize the BTC price performance and its exponential growthbut they also question the feasibility of this six-figure goal. For Quantile, BTC will only be able to reach this mark after the year 2030, with a greater probability of this happening in 2034.
According to the company, quantile regression analysis considers the Bitcoin’s adherence to power law trends (an analysis of more than ten decades). She suggests the path to $1 million requires appreciation at the level of 2017, when the price rose more than 1,300%.
While this is not outside of Bitcoin’s track record, Quantile says this scenario would characterize a “strong bubble movement“. As a result, there could be a major correction given the unsustainability of such appreciation in a very short period.
Bitcoin Today 01/09/2025: models indicate when BTC will reach US$ 1 million
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Bitcoin Today 01/09/2025: models indicate when BTC will reach US$ 1 million
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Bitcoin Today 01/09/2025: models indicate when BTC will reach US$ 1 million
