BITCOIN'S WAVY COURSE: RECORDS AND UNCERTAINTY
Bitcoin (#BTC) is trading at around $97,142 as of December 22, 2024, and has slightly declined from recent highs. On December 16, Bitcoin broke a historic record by exceeding $107,000. This rise occurred after US President Donald Trump announced the creation of a national strategic Bitcoin reserve (FN London, 2024).
Bitcoin rose to $108,135 with this news, but fell below $99,000 with a 9.2% decrease. However, it quickly recovered and reached $100,000 again.
Technical analysis is currently in a neutral to slightly bearish trend. The RSI indicator is in the range of 30-70, which does not give an overbought or oversold signal. The 50-day moving average is sloping upward and can act as support below the price. On the other hand, the 200-day moving average is fluctuating, indicating uncertainty in the long term.
According to experts' estimates, Bitcoin's long-term outlook is positive. For 2025, prices are expected to fluctuate between $125,000-155,000. According to some analyzes, the price may rise to $200,000 (MarketWatch, 2024).
Conclusion: Bitcoin's future direction will be shaped by the volatile structure of the market and economic-political developments. Regular monitoring of market data is critical for conscious investments.
- The information contained in this article is never investment advice, but is for accurate and up-to-date information purposes. STAY TUNED❗️ Be sure to do your own research❗️
Sources:
• FN London
• MarketWatch
• CoinDCX
