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Bullish
Bitcoin Price Prediction: Analyst Predicts Bullish Year End Despite $100,000 Failure
Since breaking $100,000, Bitcoin seems to be failing. Bitcoin was rejected and adjusted to $94,000 in the hours after reaching this psychological barrier.
This drop does not necessarily mean the end for the world's biggest cryptocurrency, particularly while investor attitude remains excessive greed. Technical research suggests Bitcoin might reach $100,000 by December 2024.
Record Bitcoin Liquidations Shake Market
Investor attitude and Bitcoin's market dynamics imply that its $100,000 failure may be a short halt rather than a long-term reversal. Interestingly, a comprehensive TradingView analysis confirms this perspective and predicts a bold year-end performance.
The research called December 5, 2024, a historic bitcoin liquidation day. At $1.1 billion, liquidations broke the previous record of $950 million established on August 5, 2024. There were $820 million in liquidated long holdings and $280 million in short positions.
Despite Coinmarketcap and CoinGecko showing a bottom at $93,600, Bitcoin fell around $89,000–$90,000 depending on the exchange.
The BTCUSDT chart shows a “helicopter” move, indicating a cooling-off phase owing to overheating from all technical indicators.
Bitcoin's rise persists, the expert said, despite the pullback and frantic liquidations. Despite Bitcoin's dramatic decrease, the Fear and Greed Index, a popular attitude indicator, stayed in the “greed” zone at 71. The Fear and Greed Index is now in the “extreme greed” zone at 82, indicating that market participants remain confident about Bitcoin's future.
Bold Year-End Price Prediction
Interestingly, the altcoin market hardly responded to the Bitcoin price movement, suggesting another wave lower before a market rebound.
The expert predicted another Bitcoin price drop below $90,000. Bitcoin may fall below $84,000–$85,000 before rising to $110,000.
#BTCBreaking100KAgain? #AltcoinMarketWatch #CryptoHistoricMoment #CryptoMarketHype $BTC
Since breaking $100,000, Bitcoin seems to be failing. Bitcoin was rejected and adjusted to $94,000 in the hours after reaching this psychological barrier.
This drop does not necessarily mean the end for the world's biggest cryptocurrency, particularly while investor attitude remains excessive greed. Technical research suggests Bitcoin might reach $100,000 by December 2024.
Record Bitcoin Liquidations Shake Market
Investor attitude and Bitcoin's market dynamics imply that its $100,000 failure may be a short halt rather than a long-term reversal. Interestingly, a comprehensive TradingView analysis confirms this perspective and predicts a bold year-end performance.
The research called December 5, 2024, a historic bitcoin liquidation day. At $1.1 billion, liquidations broke the previous record of $950 million established on August 5, 2024. There were $820 million in liquidated long holdings and $280 million in short positions.
Despite Coinmarketcap and CoinGecko showing a bottom at $93,600, Bitcoin fell around $89,000–$90,000 depending on the exchange.
The BTCUSDT chart shows a “helicopter” move, indicating a cooling-off phase owing to overheating from all technical indicators.
Bitcoin's rise persists, the expert said, despite the pullback and frantic liquidations. Despite Bitcoin's dramatic decrease, the Fear and Greed Index, a popular attitude indicator, stayed in the “greed” zone at 71. The Fear and Greed Index is now in the “extreme greed” zone at 82, indicating that market participants remain confident about Bitcoin's future.
Bold Year-End Price Prediction
Interestingly, the altcoin market hardly responded to the Bitcoin price movement, suggesting another wave lower before a market rebound.
The expert predicted another Bitcoin price drop below $90,000. Bitcoin may fall below $84,000–$85,000 before rising to $110,000.
#BTCBreaking100KAgain? #AltcoinMarketWatch #CryptoHistoricMoment #CryptoMarketHype $BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.