Last November, Bitcoin made history with an unforgettable milestone: an impressive increase of 26,400 USD in just one month. What led to this record figure, and will December continue this remarkable growth?
Notable Figures of November
Closing price: ~96,400 USD (the highest price ever recorded).
Monthly growth: ~37.29%.
Compared to previous months: This is the second largest price increase month in 2024, only behind February with a 43.55% increase.
👉 Highlights: November not only brought an impressive monthly candle but also confirmed Bitcoin's position as a leading asset in the current growth cycle.
December: Could It Be a Brilliant Final Stretch?
History shows that December is often a positive period for Bitcoin. Past data brings optimistic signals:
Average growth for December: ~5.11% (according to data from Coinglass).
Effects from the election year and Halving:
2016: Bitcoin increased by 30.8% in December after the US election.
2020: Bitcoin surged by 46.92% after the election.
👉 Forecast: If history repeats itself, December 2024 could witness a significant price increase, pushing Bitcoin closer to ambitious targets.
Can Bitcoin Reach 140,000 USD Before the Year Ends?
The goal of 140,000 USD by the end of 2024 sounds ambitious, but in reality, the following factors are supporting this scenario:
1️⃣ Momentum from the Halving cycle: Reduced supply has been and is creating strong upward price pressure.
2️⃣ FOMO Effect: Bitcoin's record high price is stimulating the fear of missing out among both retail and institutional investors.
3️⃣ Macroeconomic factors:
The loose monetary policy in the US drives funds into decentralized assets like Bitcoin.
The Bitcoin ETF fund continues to attract institutional capital, increasing liquidity and Bitcoin's appeal.
👉 Feasible scenario: With all these factors, the goal of 140,000 USD before the end of 2024 is by no means far-fetched.
Where Do You Think Bitcoin Will Stop?
We are in a strong growth cycle, but the big question remains: How high will Bitcoin reach before 2024 closes?
🔘 Under 90,000 USD
🔘 From 90,000 to 100,000 USD
🔘 From 100,000 to 110,000 USD
🔘 Over 110,000 USD
Summary
November 2024 has left a historical mark, and now all eyes are on December – a crucial month that will determine the future of the current growth cycle.
Although the goal of 140,000 USD is challenging, with the current momentum, Bitcoin has the potential to reach new heights.
Keep a close watch and prepare for an exciting phase in Bitcoin's history! 🌟