Price Analysis

Is Bitcoin Price Programmed To Hit $250K In Q1 Of 2022?

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Highlights

    Traders and hodlers from the crypto town are actively anticipating a major rally as December nears.

    Industry proponents continue to be optimistic with BTC price chugging towards the 5-digit landmark.

The crypto town is now nearing the final leg of the fourth quarter, as December is right around the block. Folks from the industry are now spirited, as they pin high hopes on the twelfth month of the year. Consecutively, veterans from the business are anticipating BTC price to head a bullish trot to the 5-digit milepost. Which Bitcoiners have been for anxiously?

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A protagonist from the crypto town edifies on the massive bull run of the star crypto. While hinting at a major cascading fall in the second quarter of 2022. On the trot, veterans are hopeful of BTC price conquering the $100,000 milestone by the EOY.

Are Bitcoin Bulls Burning The Midnight Oil?

The market continues to traverse along the lengthening cycle, which is now being referred to as the Supercycle. The market capitalization of the industry is currently up by 1.5% at $2,749,150,441,197. While the volumes for 24-hours are at $170,243,823,638. The dominance of the market chief is at 39.5%

The popular protagonist from the market is anticipating another bull cycle with Bitcoin price running to cliffs above $250,000. Howbeit, he also expects a standard 80% correction paving the way to a bottom around May of 2021.

Another analyst from the crypto street mentions that the floor model $98,000 November close will probably be the first miss. Post nailing the previous 3-months. He further cites that the SRF model is not affected and that it is indeed on track towards the $100,000.

This Is How BTC Price Is Faring On The Charts!

BTC price at press time is trading at $57,549.10 with negligible gains of 0.1%. The market cap of the digital coin is hovering around $1,086,722,196,563. While the trade volumes for 24-hours are at $32,119,836,182. BTC price has been traversing along with the bandwidth from $57,313.69 to $59,445.12.

The price of the market leader brushing close to the $60,000, has reinstated hope for a bullish move amongst Bitcoiners. However, $60,000 remains crucial for the digital asset to make a move towards greater highs. This is imminent as traders have been accumulating the dips. Moreover, about 81.6% of Bitcoin supply not on exchanges is currently in possession of long-term holders. Previous phases of long-term holder supply have set the stage for subsequent bull runs.

Collectively, BTC prices might break through the short-term barriers in the near time. While netizens have been impending the star crypto to hit $100,000 by the end of the year. Hopefully, the Christmas season brings fortunes to the industry.

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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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