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Bitcoin is currently experiencing a period of consolidation, with its price trading around $95,500 as of December 3, 2024. Analysts highlight bullish momentum following significant events, such as ETF approvals earlier this year and the impact of the April halving. These factors have driven Bitcoin's recent surge to an all-time high of nearly $99,575 in November.
Short-Term Outlook
The price is expected to test the $100,000 resistance level in December, with a potential high of $105,000 under strong bullish conditions. However, a bearish rejection could push the price toward support around $92,000.
Daily predictions suggest incremental price increases throughout December, with Bitcoin potentially ending the year at $108,918 to $110,000, supported by institutional demand and improving market sentiment.
Long-Term Perspective
Analysts project Bitcoin to exceed $190,000 by the end of 2025 as institutional adoption grows and the full effects of the halving manifest.
By 2030, Bitcoin could potentially reach valuations as high as $2.6 million, driven by global adoption and more robust regulatory frameworks.
While Bitcoin remains a strong investment option, its volatility requires careful risk management. Short-term resistance and support levels are key areas to monitor for immediate trading decisions.$BTC
