{"id":659005,"date":"2024-12-08T05:00:38","date_gmt":"2024-12-08T05:00:38","guid":{"rendered":"https:\/\/ktsl888.com\/?p=659005"},"modified":"2024-12-07T12:40:07","modified_gmt":"2024-12-07T12:40:07","slug":"bitcoin-price-prediction-analyst-releases-bullish-end-of-year-forecast-despite-failure-at-100000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-prediction-analyst-releases-bullish-end-of-year-forecast-despite-failure-at-100000\/","title":{"rendered":"Bitcoin Price Prediction: Analyst Releases Bullish End Of Year Forecast Despite Failure At $100,000"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Bitcoin price seems to be facing somewhat of a price failure <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-hits-historic-104000-key-factors\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">since it crossed above <\/span><\/a><span style=\"font-weight: 400\">the $100,000 price level. In the few hours after crossing above this psychological threshold, the Bitcoin price faced rejection and corrected until it reached $94,000.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/market-expert-not-long-on-xrp-youre-disrespecting-yourself\/\" target=\"_blank\" rel=\"noopener \">Market Expert: Not Long On XRP? You\u2019re \u2018Disrespecting\u2019 Yourself<\/a><\/div>\n<p><span style=\"font-weight: 400\">However, this correction <\/span><a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-market-at-a-crossroads-are-long-term-holders-signaling-a-correction-or-a-rally\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">does not necessarily signal a bleak<\/span><\/a><span style=\"font-weight: 400\"> outlook for the world\u2019s largest cryptocurrency, especially as investor sentiment continues to hover in the extreme greed zone. According to technical analysis, the Bitcoin price is still open to climbing well above $100,000 by the end of December 2024.\u00a0<\/span><\/p>\n<h2><b>Record Bitcoin Liquidations Shake The Market<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Bitcoin\u2019s broader market dynamics and investor sentiment suggest that Bitcoin\u2019s failure at $100,000 could be a temporary pause rather than a long-term reversal. Interestingly, a <\/span><a href=\"https:\/\/www.tradingview.com\/chart\/BTCUSDT\/P16qsoeN-Bitcoin-BTC-price-movement-forecast-by-the-end-of-2024\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">detailed analysis posted<\/span><\/a><span style=\"font-weight: 400\"> on the TradingView platform supports this outlook and offers a bold prediction for the year\u2019s end.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The analysis highlighted December 5, 2024, as <\/span><a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-flash-crash-710-crypto-long-liquidations\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">a historic day for cryptocurrency liquidations. <\/span><\/a><span style=\"font-weight: 400\">Total liquidations reached a staggering $1.1 billion, surpassing the previous record of $950 million set on August 5, 2024. The breakdown included $820 million in liquidated long positions and $280 million in liquidated short positions. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Although price data from Coinmarketcap and CoinGecko shows a bottom around $93,600, the Bitcoin price dipped to $89,000\u2013$90,000 depending on the exchange.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the analysis, such a dramatic move is described as a \u201chelicopter\u201d on the BTCUSDT chart, and it reflects a cooling-off period due to overheating from all technical indicators.\u00a0<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/vzT9zxpB\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">BTC is currently trading at $99,560. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Despite the correction and crazy liquidations, the analyst maintained that Bitcoin&#8217;s uptrend remains intact. This is because the Fear and Greed Index, a popular sentiment indicator, remained in the \u201cgreed\u201d zone at 71 despite Bitcoin\u2019s sharp drop. At the time of writing, the Fear and Greed Index has increased to the &#8220;extreme greed&#8221; zone at 82, suggesting that market participants are still optimistic about Bitcoin\u2019s future trajectory.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-659006\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_68c5b6.png?resize=632%2C289\" alt=\"\" width=\"632\" height=\"289\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_68c5b6.png?w=632 632w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_68c5b6.png?w=460 460w\" sizes=\"auto, (max-width: 632px) 100vw, 632px\"><\/p>\n<h2><b>Bold Year-End Price Prediction<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Interestingly, the altcoin market barely reacted to the Bitcoin price reaction, which also creates the possibility of another wave downwards before a broader market recovery.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The analyst outlined a scenario for the Bitcoin price probably going on another decline and break below $90,000. The forecast suggests Bitcoin could drop further to the $84,000\u2013$85,000 range before rallying to $110,000.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-around-200000-achievable-by-2025-end-standard-chartered-says\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Adding to the bullish narrative<\/span><\/a><span style=\"font-weight: 400\"> is the upcoming Federal Open Market Committee (FOMC) meeting, which is scheduled to take place on December 18. Market expectations point to a 0.25% rate cut by the Federal Reserve, a move that could inject further momentum into Bitcoin\u2019s price recovery much like the September and November rate cuts.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/dogecoin-days-at-the-top-numbered-cardano-set-to-take-over-analyst\/\" target=\"_blank\" rel=\"noopener \">Dogecoin Days At The Top Numbered? Cardano Set To Take Over \u2014 Analyst<\/a><\/div>\n<p><span style=\"font-weight: 400\">At the time of writing, the Bitcoin price is trading at $99,450 and is about to break above $100,000 again. On-chain data shows that Bitcoin whales have taken advantage of the price decline to load up more BTC. Particularly, addresses holding between 100 and 1,000 BTC have <\/span><a href=\"https:\/\/x.com\/ali_charts\/status\/93153467\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">increased their collective holdings <\/span><\/a><span style=\"font-weight: 400\">by 20,000 BTC in the past 24 hours, valued at $2 billion.\u00a0<\/span><\/p>\n<p><em>Featured image from Pixabay, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin price seems to be facing somewhat of a price failure since it crossed above the $100,000 price level. In the few hours after crossing above this psychological threshold, the Bitcoin price faced rejection and corrected until it reached $94,000. Related Reading: Market Expert: Not Long On XRP? You\u2019re \u2018Disrespecting\u2019 Yourself However, this correction does not necessarily signal a bleak outlook for the world\u2019s largest cryptocurrency, especially as investor sentiment continues to hover in the extreme greed zone. According to technical analysis, the Bitcoin price is still open to climbing well above $100,000 by the end of December 2024.\u00a0 Record Bitcoin Liquidations Shake The Market Bitcoin\u2019s broader market dynamics and investor sentiment suggest that Bitcoin\u2019s failure at $100,000 could be a temporary pause rather than a long-term reversal. Interestingly, a detailed analysis posted on the TradingView platform supports this outlook and offers a bold prediction for the year\u2019s end. The analysis highlighted December 5, 2024, as a historic day for cryptocurrency liquidations. Total liquidations reached a staggering $1.1 billion, surpassing the previous record of $950 million set on August 5, 2024. The breakdown included $820 million in liquidated long positions and $280 million in liquidated short positions. Although price data from Coinmarketcap and CoinGecko shows a bottom around $93,600, the Bitcoin price dipped to $89,000\u2013$90,000 depending on the exchange. According to the analysis, such a dramatic move is described as a \u201chelicopter\u201d on the BTCUSDT chart, and it reflects a cooling-off period due to overheating from all technical indicators.\u00a0 Despite the correction and crazy liquidations, the analyst maintained that Bitcoin&#8217;s uptrend remains intact. This is because the Fear and Greed Index, a popular sentiment indicator, remained in the \u201cgreed\u201d zone at 71 despite Bitcoin\u2019s sharp drop. At the time of writing, the Fear and Greed Index has increased to the &#8220;extreme greed&#8221; zone at 82, suggesting that market participants are still optimistic about Bitcoin\u2019s future trajectory. Bold Year-End Price Prediction Interestingly, the altcoin market barely reacted to the Bitcoin price reaction, which also creates the possibility of another wave downwards before a broader market recovery.\u00a0 The analyst outlined a scenario for the Bitcoin price probably going on another decline and break below $90,000. The forecast suggests Bitcoin could drop further to the $84,000\u2013$85,000 range before rallying to $110,000.\u00a0 Adding to the bullish narrative is the upcoming Federal Open Market Committee (FOMC) meeting, which is scheduled to take place on December 18. Market expectations point to a 0.25% rate cut by the Federal Reserve, a move that could inject further momentum into Bitcoin\u2019s price recovery much like the September and November rate cuts. Related Reading: Dogecoin Days At The Top Numbered? Cardano Set To Take Over \u2014 Analyst At the time of writing, the Bitcoin price is trading at $99,450 and is about to break above $100,000 again. On-chain data shows that Bitcoin whales have taken advantage of the price decline to load up more BTC. Particularly, addresses holding between 100 and 1,000 BTC have increased their collective holdings by 20,000 BTC in the past 24 hours, valued at $2 billion.\u00a0 Featured image from Pixabay, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":659012,"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":[428,679,1119,1144,6664],"class_list":["post-659005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Prediction: Analyst Releases Bullish End Of Year Forecast Despite Failure At $100,000<\/title>\n<meta name=\"description\" content=\"The Bitcoin price seems to be facing somewhat of a price failure since it crossed above the $100,000 price level. 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