Zinger Key Points
- Crypto trader Joe McCann expects Q1 2025 to be structurally bullish, with Bitcoin potentially reaching $150,000.
- Capriole Investments' Charles Edwards warns of possible 20-40% corrections, despite strong institutional support.
Bitcoin BTC/USD continues to struggle between $90,000 and $100,000, but prominent analysts and traders remain upbeat about its prospects in the first quarter of 2025.
What Happened: Veteran crypto trader and Asymmetric Fund CEO Joe McCann shared his “tactical short-term bearish” outlook for the cryptocurrency market in an appearance on the Blockworks macro podcast on Jan. 9.
While acknowledging short-term bearish trends, McCann remains optimistic about Q1 as a seasonally profitable period, driven by a combination of macroeconomic factors and crypto-specific catalysts.
"The market is telling you something. You can either deny what you're seeing or embrace it and manage your risk appropriately," McCann explained, pointing to Bitcoin's rejection at key resistance levels and reduced ETF flows as reasons for near-term caution.
Q1 Is The Time For Profits…
Despite his short-term bearish stance, McCann anticipates a structurally bullish Q1, with Bitcoin potentially hitting $150,000 after a pullback to the $75,000 range.
He aims to follow more defensive strategies in Q2 and Q3 as markets adjust to macro changes, including Trump’s presidency.
"I think Q1 is probably the time to make the most money this year," McCann stated, adding that while the “easy money” phase of 2024 may be over, significant opportunities remain for traders who manage risk effectively.
…But 20%-40% Corrections Still Possible
Charles Edwards, founder of Capriole Investments, echoed McCann's optimism during a discussion with crypto trader Alex Krüger.
Edwards highlighted institutional buying activity and ETF inflows as stabilizing factors for Bitcoin, even after its recent dip below $100,000.
"$100,000 is really the level we want to stay above to keep the bull market in full swing," Edwards explained.
In a seperate podcast recorded on Jan. 6, he remained optimistic about 2024 overall but cautioned that 20-40% corrections are possible, influenced by factors such as Federal Reserve policies, Trump's economic plans and MicroStrategy's Bitcoin purchases.
"Broadly, 2024 should be a really positive year," Edwards said, but he urged caution, noting that major corrections could occur before new highs are achieved.
What's Next: Both McCann and Edwards agree on the importance of managing risk and timing trades carefully in the evolving crypto landscape.
With strong institutional support and the maturation of the market, Q1 is shaping up to be a promising period, though volatility may persist.
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