- Bitcoin’s recent surge shows strong investor confidence, but volatility remains high.
- Support at $96,000 and resistance near $104,000 could shape Bitcoin’s price moves.
- BTC’s price in December 2024 may fluctuate between $95,440 and $107,264.
Bitcoin’s breach of the $100K mark reaped substantial gains to early investors, but then it also raises concerns for those considering entering the market now. In fact, as Bitcoin reaches new price highs, skeptics like Peter Schiff warn of the potential risks for future buyers. Back in 2019, Schiff dismissed the idea of Bitcoin ever reaching $100,000—a claim that now seems misplaced, as the cryptocurrency even traded over $101,000 for a brief period.
Bitcoin’s Surge and the Market Sentiment
Bitcoin’s rapid rise goes beyond just price; it reflects a broader shift in market sentiment. At $101,593.20, the cryptocurrency has experienced a 5.79% daily increase, demonstrating a growing interest from buyers.
Moreover, Bitcoin’s market capitalization reached an impressive $2.01 trillion, which signals strong buying momentum. The surge saw a substantial 124.21% increase in 24-hour trading volume, amounting to $135.53 billion. These figures point to increasing investor confidence in Bitcoin, even as questions about its sustainability linger.
Bitcoin Support and Resistance Levels: Key Technical Indicators
The price of Bitcoin has reached significant milestones, but shows volatility. Immediate support appears around the $96,000 level, where Bitcoin consolidated in the past. Secondary support could emerge at $95,000, as shown by previous low points on the chart.
Read also: Breaking $100K: Bitcoin Draws Parallels to Global Economic Indicators
On the other hand, resistance is expected near $104,000, a level where Bitcoin has struggled to break through in recent sessions. A successful push beyond this barrier could signal further price hikes toward $110,000.
Bitcoin’s Future in December 2024
Looking ahead, Bitcoin’s future price movement remains uncertain. Changelly blog predicted that Bitcoin’s price could fluctuate between $95,440.78 and $107,264.36 in December 2024. While these projections suggest a stable range, the cryptocurrency market is known for its unpredictability.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
