December, where is Bitcoin headed? #BTC☀
The direction of Bitcoin has always been a focal point for cryptocurrency players, as it is the leader of this ship, moving the entire body with a single touch. Especially recently, with Bitcoin rebounding after hitting a low, this ship seems to be getting back on track, accelerating forward towards the vast ocean, seeking that unique path to wealth.
From an external analysis:
The rise in Bitcoin's price is also supported by the cryptocurrency environment. The election of this crypto president was accompanied by statements about appropriately relaxing regulations and possibly establishing a national Bitcoin reserve, which he proposed a few months before the election.
Moreover, institutions are providing strong support from behind. For example, the top-ranked industry is ETFs, which already hold 5.97% of Bitcoin. BlackRock alone has captured 40% of the entire Bitcoin ETF market share, holding nearly 500,000 Bitcoins, making it the largest buyer of Bitcoin this year.
Recently, MicroStrategy, which has been buying frequently, now holds 386,700 Bitcoins, more than the US government's holdings.
Secondly, on a higher level, major countries are also gradually increasing their Bitcoin holdings. The United States is undoubtedly in the lead, followed by China, with reports indicating they hold 200,000 Bitcoins.
All these external factors indicate that the recognition of Bitcoin is increasing. Additionally, global economic uncertainty and changes in monetary policy are also important factors driving the price increase.
From a market trend analysis:
Looking back, throughout November, Bitcoin accumulated a rise of 38.83%. The price rose along with Trump's presidency, soaring from 66,800 to a historic high of 99,600, with an increase of up to 30,000 points in less than 20 trading days. Currently, it can be said that morale is high, and the momentum is unstoppable. Last week, although it retraced from a high of 99,600 to a price of 90,800, it did not affect the overall upward trend. After completing the correction, it returned to the right track.
From the market perspective, last week it touched the 947 line twice and rebounded, indicating that this position serves as a short-term double-bottom support. The next level is the 956 line. From the 4-hour chart, it has touched 956 three times without falling further. Therefore, considering these two points, it is prepared to ambush a trend at this position, using 940 as a dividing line for long and short layouts. Fans, please act according to your capabilities and strictly control your risk ratio! $BTC $ETH
