The current trade price of Bitcoin ($BTC), the top Cryptocurrency by market cap, is $97,957. This price level is 2.6% down over the last 24-hour period.
The current trade price of Bitcoin is $97.95k pic.twitter.com/rwCuDK4NYo
— Bitcoinik (@Bitcoinikdotcom) December 19, 2024
The sharp downfall in the trade price of Bitcoin is showing a very big picture, some experts predicted. Currently, wise minds are rapidly buying Bitcoin to enjoy the incoming big wave of bull run.
On 19 Dec 2024, A publicly traded company, Marathon Digital Holdings (MARA), purchased 15,574 bitcoin for $1.53 billion. With investment in Bitcoin, MARA has achieved an impressive BTC yield of 22.5% quarter-to-date (QTD) and 60.9% year-to-date (YTD).
BREAKING: 🇺🇸 Publicly traded MARA buys 15,574 bitcoin for $1.53 billion. pic.twitter.com/c1kyLwGYvH
— Bitcoin Magazine (@BitcoinMagazine) December 19, 2024
On the other hand, Hut 8 ($HUT) purchased 990 BTC worth $100 million. Now Hut 8 holds more than 10,000 BTC.
Hut 8 today announced the purchase of approximately 990 Bitcoin for approximately $100 million, or an average of approximately $101,710 per Bitcoin. Combined with the Bitcoin held prior to this purchase, Hut 8’s strategic Bitcoin reserve now totals more than 10,000 Bitcoin with a… pic.twitter.com/BhgCNMMEJu
— Hut 8 (@Hut8Corp) December 19, 2024
It is worth it to note that MARA purchased these new stakes of Bitcoin at an average trade price of $98,529/BTC and Hut 8 purchased at an average price of $101,710/BTC.
Yesterday, Bitcoin was struggling, but this news acted as a catalyst to pump Bitcoin by 5%; unfortunately, today, the trade price of Bitcoin again collapsed badly. Trade volume in the Bitcoin market surged nearly 25%.
A popular crypto analyst shared his analysis on the Bitcoin market and predicted that the next all-time high price level of Bitcoin will be $113,000/BTC.
#Bitcoin $113,000 Soon? 🚀#BTC bullish momentum remains strong, forming a clear sequence of higher highs and higher lows.Price has tagged the daily fair value gap and the reload zone.➡️ Next target: the 100% Fibonacci extension at $113,000, imo. pic.twitter.com/RoyKOusWfK
— Titan of Crypto (@Washigorira) December 19, 2024
Furthermore, he added that ups & downs are only a natural part of the volatile money market, but here, the majority of the investors will win.
#Bitcoin Market SentimentIt’s the same story every time, and it never changes. Markets aren’t designed for the majority to win.Corrections are a natural part of bull markets. pic.twitter.com/rcDzbhdC1D
— Titan of Crypto (@Washigorira) December 19, 2024
Read also: Bad News For Bitcoin! MicroStrategy may stop buying Bitcoin: Report
