As of December 25, 2024, Bitcoin (BTC) is trading at approximately $98,193, reflecting a significant increase over the past year.
Recent developments have influenced Bitcoin's price trajectory. The re-election of President Donald Trump, known for his pro-crypto stance, has bolstered market optimism, contributing to Bitcoin surpassing the $100,000 mark earlier this month. Additionally, the approval of spot Bitcoin ETFs has further stimulated investor interest.
However, Bitcoin's inherent volatility persists. After reaching a peak of $99,830 on November 22, it experienced an 8% decline to a low of $91,377. The options market indicates increased demand for protective puts, suggesting that some investors anticipate potential short-term declines.
Technical analyses present mixed signals. Short-term indicators suggest a buy, while long-term indicators lean towards a sell. This divergence underscores the importance of considering both immediate market trends and longer-term patterns.
Given these factors, it's crucial to assess your individual investment goals, risk tolerance, and time horizon before making decisions. Consulting with a financial advisor can provide personalized guidance tailored to your specific circumstances.