#NFT市场回暖
Bitcoin: After a 39% surge in November, can it reach $140,000 in December?
Bitcoin surged by 39.72% last month.
An analyst predicts that based on previous situations, Bitcoin might rise to $140,000 in December.
After the U.S. presidential election, Bitcoin skyrocketed from a low of $6,600 to a new high of $99,800.
However, after reaching this high, Bitcoin fell back down and is now back to $90,742. This volatility in price has led to differing opinions among cryptocurrency analysts. Some believe Bitcoin can continue to rise, surpassing $100,000; others think it might fall.
Among them, an analyst named Ali Martinez is quite optimistic, believing that Bitcoin will see significant gains in December following the U.S. presidential election.
Bitcoin's Previous Performance
Martinez stated that Bitcoin has performed very well in December after the U.S. presidential elections in the past.
He noted that BTC has seen considerable increases in the last two instances. In 2020, BTC rose from $17,570 to $29,300, an increase of 66.84%.
In 2016, BTC rose from $740 to $981, an increase of 32.56%.
However, historically, Bitcoin has also experienced declines in December after U.S. presidential elections.
Therefore, according to historical patterns, BTC could see significant gains in December. Martinez predicts that Bitcoin might rise to between $125,000 and $140,000.
Although Bitcoin has dropped from its peak, the overall trend is still upward. The current situation suggests that Bitcoin may continue to rise.
For instance, Bitcoin's NVT golden cross has risen from -0.13 to 1.1. This increase in the indicator signifies that there is confidence in Bitcoin's long-term growth.
Investors believe that Bitcoin's value has already surpassed the current on-chain activity, regardless of trading volume, and they see growth potential.
Additionally, the rise in MVRV long/short difference also confirms the long-term confidence of investors.
The increase in this indicator indicates that holders of long positions are becoming more confident, even though they are already in profit.
Finally, Bitcoin's stock-to-flow ratio has risen from a low of 105 to 494. This surge in the indicator shows that BTC is currently scarce with low supply.
