Bitcoin's current price is around $82,000, having reached a new all-time high of $82,471 recently. The cryptocurrency's rally is largely attributed to Donald Trump's victory in the US presidential election and the Federal Reserve's interest rate cut. Here are some key updates and targets:
*Short-term Targets:*
- *Potential Pullback:* $78,777 (4% decline from current position)
- *Upside Target:* $83,062 (161.8% Fibonacci extension level)
- *New All-Time High:* $89,089 (projected target based on weekly chart analysis)
*Market Sentiment:*
- *Bullish Momentum:* Strong bullish sentiment driven by institutional demand and Trump's pro-Bitcoin stance
- *Technical Indicators:* Weekly chart suggests continued bullish rally, while daily chart indicates potential short-term pullback
*Expert Predictions:*
- *$180,000 Target:* Macro guru Dan Tapiero predicts Bitcoin could reach $180,000 by the end of 2025 or early next year, representing a 112% increase from current prices
- *Historical Performance:* Bitcoin has delivered strong returns in November, with an average gain of 44.24% ¹ ² ³$BTC