Bitcoin Analysis and Forecast (December 2024)
Currently, Bitcoin (BTC) is heading towards new record highs after surpassing the $100,000 mark, with signs of continued bullish momentum. Here is a summary of the forecasts and influencing factors:
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Current Performance Analysis
Recent Rally: The coin has surpassed the $100,000 level, with expectations of targeting $105,000 and $111,000 in the near term.
Institutional Demand: Bitcoin-backed ETFs have seen massive inflows, pushing the price higher.
Whale Activity: Large portfolios have added huge amounts of Bitcoin, reflecting the optimism of large investors.
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December 2024 Forecast
1. Positive Scenario:
Institutional Demand Continues.
If the resistance level at $105,000 is broken, the coin could reach $111,000 or higher.
2. Negative scenario:
If selling pressure increases, the price may return to test support levels near $100,000 or even $98,000 before resuming the rise.
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Factors affecting the market
Halving economics: with less supply after the bonus cuts (what happened previously contributes to gradually raising the price).
Government regulations: New laws and legislation may affect the market, either positively or negatively.