By the end of the year, bitcoin's price may reach $125,000–$150,000
Bitcoin has often increased in December after US presidential elections, according to historical tendencies, which crypto expert Ali Martinez emphasized, adding to the euphoric attitude.
According to Martinez, if Bitcoin's 30% and 46% advances in the past two cycles are any indication, the cryptocurrency might end the year between $125,000 and $140,000.
In addition, Martinez brought out the fact that, since Bitcoin's price increased from $62,000 to $99,000, long-term holders have been cashing out. This profit-taking is normal in bull markets, he said, so don't see it as a signal to sell the asset.
According to the expert, long-term holders often benefit from price increases, which might lead to volatility in the near term but does not always mean a change in the market direction as a whole.
Bitcoin is now selling around $96,500, down 0.3% over the last 24 hours and over 2% over the last week.
