Bitcoin: Why $130K is realistic, yet uncertain for BTC
December began shrouded in skepticism, with many forecasting a major retrace following November’s historic sector growth. However, as Bitcoin [BTC] breaks the six-figure barrier, the narrative is beginning to shift.
Contrary to the optimism, the real psychological test is just starting. Having moved past the high-FUD zone, Bitcoin is poised for intense FOMO-driven inflows.
Yet, true volatility looms in Q1 next year, as macroeconomic shifts and a new administration challenge the rally’s resilience.
If Bitcoin maintains its ground, the bullish momentum could carry into 2025. However, given crypto’s history of defying mainstream expectations, it may be too early to anticipate a meteoric run toward price discovery.
A pragmatic look at Bitcoin’s past and present
Bitcoin has seen a daily increase of over 6%, which has pushed its price to a new all-time high of $103,900. This increase is attributed to strong buying momentum in both the spot and the perpetual markets.
Or a lack of selling pressure, suggesting that investors continue to ‘HODL,’ expecting an even greater boom cycle.
Initially, this momentum was built on ‘anticipation’ that lasted exactly 30 days, fueled by the Trump-pump, which pushed Bitcoin through this psychological barrier.
Now, Bitcoin’s greatest strength lies in its limited supply. With a capped supply and substantial interest from large investors, its potential seems limitless. However, the journey to realizing that potential won’t be a smooth one.