Bitcoin is no stranger to impressive gains, but its latest rally – which reached $90,000 in November – has got people talking. Many are wondering: is this spike a reflection of the explosive returns BTC has delivered in the past, or are we just getting started? With high expectations of even greater returns, let’s take a look at Bitcoin’s journey and what could come next.
An impressive rally, but history has seen it bigger
Certainly, this month of November was big: Bitcoin rose about 40% since mid-October, rising from $66,800 to $90,200. The profit alone is enough to keep any investor glued to the screen. But interestingly, Bitcoin’s profit-taking this time around is only about half of what it was at all-time highs, showing that traders are hanging in there and perhaps anticipating even bigger moves. According to Glassnode, “realized profit volumes” have averaged around $1.56 billion per day since the first crypto reached its previous peak. That’s about half of what we saw in previous rallies, suggesting this rally may be just heating up.
In early 2013, BTC achieved quarterly returns of over 539% – a pace not seen in recent memory. While the current quarterly gains of 36% in Q4 2024 are notable, they pale in comparison to the past. Interestingly, Bitcoin’s profit-taking this time around is only about half of what it was at all-time highs. This shows that traders are holding on and possibly anticipating even bigger moves.
Bitcoin makes a new record
On November 11, BTC posted another daily gain, rising $8,400. Renewed interest following the last US presidential election has partly fueled this increase.
The excitement is much like that seen during Bitcoin’s 2017 rise, which left traders wondering how high it could go. But unlike the past, institutions, governments and seasoned investors are now filling today’s market, making crypto less wild than before. In the past, Bitcoin’s peaks have often been quick and dramatic, with realized gains during those big bull runs reaching $3 billion per day – twice what we see now.
Author of the famous book “Rich Dad Poor Dad”, Robert Kiyosaky in his X message shared his plan to continue buying BTC until it reaches $100k.
What to expect
Will Bitcoin break its previous records and deliver triple-digit returns again? Although predicting is difficult, it is clear that Bitcoin is no longer the underdog. Talks of a US Bitcoin reserve and more institutional support mean Bitcoin is growing out of its ‘volatile asset’ phase into a more respected role in the financial world. Yet there are always surprises lurking with Bitcoin.
For those paying close attention, Bitcoin’s evolution from a speculative gamble to a legitimate financial instrument feels more real than ever. Whether the price continues to rise or retreats, Bitcoin’s potential is one to keep an eye on.