Follow Us @
Bitcoin Today 12/16/2024: BTC renews maximum and targets US$ 120,000
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
The last 24 hours have been exciting for Bitcoin, although the Top 10 cryptocurrencies have not been as lucky. Among them all, only BTC and Ethereum (ETH) recorded appreciations above 1%.
Bitcoin saw a strong rally over the weekend, rising 2.4% according to CoinGecko. As a result, cryptocurrency reached US$105,000, renewing its all-time high once again. In the last seven days, BTC has seen gains of more than 6%.
On the other hand, ETH appreciated 1.9% and opened Monday (16) worth US$ 3,942. In the last seven days, it was practically stable, with a slight increase of 1.9%. The biggest daily drop was 1.5% for XRP, whose price opened at US$2.38.
Now that Bitcoin has surpassed the US$105,000 mark, analysts are once again speculating whether this movement is sustainable in the long term. For some of them, the BTC could reach the $120,000 mark as its next appreciation target.
Could Trump’s ‘Rally’ Extend Bitcoin Price?
For legendary trader Peter Brandt, Bitcoin’s bull rally is not over yet. In this sense, the trader states that BTC could reach a maximum of US$ 120 thousand still in December. According to Brandt, this seems achievable amid the pro-cryptocurrency statements made by United States President-elect Donald Trump.
With Donald Trump set to take command of the White House next month, analysts are hopeful of a favorable regulatory landscape for cryptocurrencies. The new president has already named several pro-cryptocurrencies names in key sectors for regulating the sector in the country.
Furthermore, Trump confirmed that the US will build a strategic Bitcoin reserve under his administration. Last week, during a speech at the New York Stock Exchange (NYSE), Donald Trump announced plans for cryptocurrencies without revealing many details about it.
Last week, MicroStrategy reached a significant milestone by joining the Nasdaq 100 Index, which could lead to several ETFs having exposure to BTC through the company. Over the past four years, MicroStrategy has transformed into a leveraged Bitcoin investment vehicle with a reserve of 420,000 BTC.
According to data from Saylor Tracker, which tracks purchases made by MicroStrategy, company holds 423,650 BTC on its balance sheetwhose value, at current Bitcoin prices, is US$44.58 billion. For the past five consecutive weeks, Saylor has been purchasing Bitcoin for his company every Monday and shows no signs of stopping.
Legendary trader Peter Brandt shared a chart showing Bitcoin’s price break above the $101,435 level. According to Brandt, this level marked a new resistance breakout which increased the earning potential of the cryptocurrency.
Bitcoin Today 12/16/2024: BTC renews maximum and targets US$ 120,000
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
Bitcoin Today 12/16/2024: BTC renews maximum and targets US$ 120,000
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Bitcoin Today 12/16/2024: BTC renews maximum and targets US$ 120,000
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Bitcoin Today 12/16/2024: BTC renews maximum and targets US$ 120,000
