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Bitcoin Price to hit $100K by December! But, The First a Dip is on the Way

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Bitcoin (BTC) appeared to be on its way to reclaiming its prior all-time highs after scaling up to a relative high of around $53,000 just over two weeks ago. However, due over the last week, the flagship crypto by total market capitalization has lost about 13% of its value.

Despite Bitcoin’s recent struggles, a price target of $100,000 appears to be a reasonable target for BTC according to popular trader Tone Vays.

According to the veteran trader, Bitcoin (BTC) likely finish its recent fall soon, before launching a rapid climb to six figures.

Vays claims that BTC’s latest price behavior resembles that of July when the flagship cryptocurrency plummeted to a yearly low under $29,000 before recovering strongly to $52,000 in less than six weeks.

“I would like to see a spike down tomorrow or the next day, taking us into that $43,000 range with a big follow through to the upside then after.”

According to Vays, Bitcoin is likely to sink lower for a short period of time, giving traders the opportunity to buy BTC near the $40,000 level.

Also Read : Top Reasons Why Bitcoin(BTC) Price Could Breakout But Is $100K Feasible Target?

BTC Price to hit $100K by December!

Vays lays out a route to $100,000 BTC by the start of 2022, assuming Bitcoin bounces from the $40,000 support zone.

He goes on to say, a $40,000 low is expected either next week or later in the week. BTC price will break $50,000. By early November, the token will surpass $65,000, and by the end of December, it will be hovering around $100,000. 

“So I’m sticking to my prediction that we’ll hit $100,000 in December.”

At the time of writing, BTC is trading at $46,690 up by 4.6% in the last 24 hours. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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