{"id":656153,"date":"2024-12-01T15:00:19","date_gmt":"2024-12-01T15:00:19","guid":{"rendered":"https:\/\/ktsl888.com\/?p=656153"},"modified":"2024-12-01T08:15:40","modified_gmt":"2024-12-01T08:15:40","slug":"bitcoin-set-to-hit-140000-target-in-december-heres-why","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-set-to-hit-140000-target-in-december-heres-why\/","title":{"rendered":"Bitcoin Set To Hit $140,000 Target In December – Here\u2019s Why"},"content":{"rendered":"

Bitcoin (BTC) experienced a rather turbulent end to November, reaching a local bottom of $90,796 on Tuesday. <\/span>Notably, the market bulls have shown some resilience in the past few days producing a market gain of 5.9% to move the digital asset back above $96,000. <\/span>Interestingly, as December begins, popular market analyst Ali Martinez has backed BTC to resume its uptrend reaching a potential price target of $140,000.
\n<\/span><\/p>\n

Related Reading: Bitcoin Funding Rates Surge 20% On Major Exchanges \u2014 What\u2019s Happening?<\/a><\/div>\n

Prepare For Bullish December – Analyst<\/strong><\/h2>\n

In an X post on November 30<\/a>, Martinez predicted Bitcoin is likely to maintain a positive performance going into the last month of 2024.\u00a0<\/span><\/p>\n

So far, the crypto market leader has captured significant investor interest in Q4 2024, gaining by 10.76% in October and 37.99% in November. <\/span>The BTC market has been strongly bullish, driven by several factors including the recent Fed rate cut in November<\/a>, Donald Trump\u2019s electoral victory, and high market inflows into the spot Bitcoin ETFs. <\/a>
\n<\/span><\/p>\n

Moving forward, December historically presents itself as a two-phased month for Bitcoin proven by an average return of 5.45% and a median return of -3.59% over the past 11 years.\u00a0<\/span><\/p>\n

However, Martinez explains that Bitcoin has traditionally surged in any December following the US Presidential elections, as evidenced by gains of 30.80% and 46.92% in 2016 and 2020, respectively.\u00a0 <\/span>If the premier cryptocurrency mirrors this similar pattern from these previous bull cycles, the analyst predicts Bitcoin to trade between $125,000 – $140,000 before 2024 runs out.<\/span><\/p>\n

According to data from the BTC weekly chart, the asset\u2019s 100-day simple moving average (SMA) remains far above its price signaling an uptrend continuation in agreement with Martinez\u2019s projection.\u00a0 However, a relative strength index (RSI) of 75.56 indicates Bitcoin has been overbought and is vulnerable to sudden price falls.<\/p>\n

 <\/p>\n

\"Bitcoin\"
Source: ali_charts on X<\/figcaption><\/figure>\n
Related Reading: Bitcoin Flows To Binance Hit Historic Lows\u2014Is Market Confidence Soaring?<\/a><\/div>\n

Investors Withdraw $5 Billion Bitcoin From Exchanges\u00a0<\/strong><\/h2>\n

In more positive news for the Bitcoin community, over 55,000 Bitcoins, valued at $5.34 billion, have been moved from crypto exchanges over the last three days. <\/span>This development<\/a> is largely interpreted as bullish as it reduces available Bitcoin supply on exchanges, potentially decreasing selling pressure. Moreover, it signifies investors’ anticipation of immediate price gains by BTC.\u00a0<\/span><\/p>\n

At the time of writing, BTC trades at $96,203 following a 0.43% loss in the past 24 hours. In any further ascent, Bitcoin will encounter minor resistance at $97,300, which should provide no major opposition as the premier cryptocurrency is largely tipped to break above $100,000<\/a> sooner or later.<\/span><\/p>\n

Meanwhile, BTC\u2019s daily trading volume, valued at $31.98 billion, is down by 41.27% indicating a decline in traders’ participation and general market activity.<\/p>\n

\"Bitcoin\"
BTC trading at $96,176 on the daily chart | Source: BTCUSDT chart on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Medium, chart from Tradingview<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) experienced a rather turbulent end to November, reaching a local bottom of $90,796 on Tuesday. Notably, the market bulls have shown some resilience in the past few days producing a market gain of 5.9% to move the digital asset back above $96,000. Interestingly, as December begins, popular market analyst Ali Martinez has backed BTC to resume its uptrend reaching a potential price target of $140,000. Related Reading: Bitcoin Funding Rates Surge 20% On Major Exchanges \u2014 What\u2019s Happening? Prepare For Bullish December – Analyst In an X post on November 30, Martinez predicted Bitcoin is likely to maintain a positive performance going into the last month of 2024.\u00a0 So far, the crypto market leader has captured significant investor interest in Q4 2024, gaining by 10.76% in October and 37.99% in November. The BTC market has been strongly bullish, driven by several factors including the recent Fed rate cut in November, Donald Trump\u2019s electoral victory, and high market inflows into the spot Bitcoin ETFs. Moving forward, December historically presents itself as a two-phased month for Bitcoin proven by an average return of 5.45% and a median return of -3.59% over the past 11 years.\u00a0 However, Martinez explains that Bitcoin has traditionally surged in any December following the US Presidential elections, as evidenced by gains of 30.80% and 46.92% in 2016 and 2020, respectively.\u00a0 If the premier cryptocurrency mirrors this similar pattern from these previous bull cycles, the analyst predicts Bitcoin to trade between $125,000 – $140,000 before 2024 runs out. According to data from the BTC weekly chart, the asset\u2019s 100-day simple moving average (SMA) remains far above its price signaling an uptrend continuation in agreement with Martinez\u2019s projection.\u00a0 However, a relative strength index (RSI) of 75.56 indicates Bitcoin has been overbought and is vulnerable to sudden price falls.   Related Reading: Bitcoin Flows To Binance Hit Historic Lows\u2014Is Market Confidence Soaring? Investors Withdraw $5 Billion Bitcoin From Exchanges\u00a0 In more positive news for the Bitcoin community, over 55,000 Bitcoins, valued at $5.34 billion, have been moved from crypto exchanges over the last three days. This development is largely interpreted as bullish as it reduces available Bitcoin supply on exchanges, potentially decreasing selling pressure. Moreover, it signifies investors’ anticipation of immediate price gains by BTC.\u00a0 At the time of writing, BTC trades at $96,203 following a 0.43% loss in the past 24 hours. In any further ascent, Bitcoin will encounter minor resistance at $97,300, which should provide no major opposition as the premier cryptocurrency is largely tipped to break above $100,000 sooner or later. Meanwhile, BTC\u2019s daily trading volume, valued at $31.98 billion, is down by 41.27% indicating a decline in traders’ participation and general market activity. Featured image from Medium, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":656155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[93461,428,1144,78790,17293],"class_list":["post-656153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-ali-matinez","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-december"],"acf":[],"yoast_head":"\nBitcoin Set To Hit $140,000 Target In December, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Popular market analyst Ali Martinez has backed BTC to resume its uptrend reaching a potential price target of $140,000.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.","sameAs":["https:\/\/www.linkedin.com\/in\/semilore-faleti-7a9046218","https:\/\/x.com\/https:\/\/twitter.com\/SemiloreFaleti"],"url":"https:\/\/ktsl888.com\/author\/semilorefaleti\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Set To Hit $140,000 Target In December – Here\u2019s Why","url":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-set-to-hit-140000-target-in-december-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-set-to-hit-140000-target-in-december-heres-why\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/1_aC5qahZv3KP6uoq2sIFjVg.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/1_aC5qahZv3KP6uoq2sIFjVg.jpg?fit=1024%2C575"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Semilore Faleti"}],"creator":["Semilore Faleti"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ali matinez","bitcoin","btcusd","btcusdt","december"],"dateCreated":"2024-12-01T15:00:19Z","datePublished":"2024-12-01T15:00:19Z","dateModified":"2024-12-01T15:00:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Set To Hit $140,000 Target In December – Here\\u2019s Why\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-set-to-hit-140000-target-in-december-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-set-to-hit-140000-target-in-december-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/1_aC5qahZv3KP6uoq2sIFjVg.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/1_aC5qahZv3KP6uoq2sIFjVg.jpg?fit=1024%2C575\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Semilore Faleti\"}],\"creator\":[\"Semilore Faleti\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ali matinez\",\"bitcoin\",\"btcusd\",\"btcusdt\",\"december\"],\"dateCreated\":\"2024-12-01T15:00:19Z\",\"datePublished\":\"2024-12-01T15:00:19Z\",\"dateModified\":\"2024-12-01T15:00:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/1_aC5qahZv3KP6uoq2sIFjVg.jpg?fit=1024%2C575","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/656153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/581"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=656153"}],"version-history":[{"count":5,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/656153\/revisions"}],"predecessor-version":[{"id":656184,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/656153\/revisions\/656184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/656155"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=656153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=656153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=656153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}