#BTCNextMove As of December 20, 2024, Bitcoin (BTC) is trading at approximately $96,417, reflecting a 4.81% decrease from the previous close.
This decline follows a recent peak above $107,000 on December 15, 2024, driven by optimism surrounding President-elect Donald Trump's proposal for a U.S. bitcoin strategic reserve.
Market sentiment appears divided regarding Bitcoin's next move. A recent poll indicates that over 60% of participants anticipate a further decline to $85,000, while others expect a rebound to $105,000.
Analysts suggest that Bitcoin's price could reach around $110,000 by the end of 2024 and potentially touch $200,000 in 2025.
However, it's important to note that the cryptocurrency market is highly volatile, and predictions should be approached with caution.
In the options market, there's increased demand for protective puts, indicating that some investors are hedging against potential declines.
Given the rapidly changing dynamics of the cryptocurrency market, it's advisable to stay informed through reliable financial news sources and consider consulting financial advisors before making investment decisions.