30s Summary

Bitcoin’s future lies in the balance of optimism and pessimism with its performance close to the $100,000 mark. Potential rate cuts by China’s central bank and the European Central Bank could drive investment into riskier markets, possibly pushing Bitcoin to break new records. Sygnum Bank reports suggest Bitcoin may see a “demand shock” by 2025 due to increased institutional involvement. Bitcoin’s December 12 resistance was $101,900 but it is likely to rise if it crosses $104,088. If the price drops below $96,916, it may slide to $90,000 and shift the short-term trend towards buyers.

Full Article

Bitcoin is locked in a struggle between the optimists and pessimists near the $100,000 mark. It’s promising that the positive camp hasn’t given in much, hinting at a potential increase.

Jag Kooner, the derivative honcho at Bitfinex, believes that rate slashes from China’s central bank (November 21st) and the European Central Bank (December 12th) could drive investment into riskier markets, including cryptocurrencies. If the U.S. Federal Reserve follows by cutting their rates during the December 18th meeting, Bitcoin could break new records by year’s end.

Expectations are high that Bitcoin’s growth will continue into 2025. According to a report by crypto-focused asset manager, Sygnum Bank, Bitcoin could experience a “demand shock” in 2025 due to increased institutional involvement, causing the price to skyrocket. However, the report added that other cryptocurrencies (altcoins) would only join the rally if the U.S. passes laws promoting crypto adoption.

Let’s see how Bitcoin kickstarts the next wave of growth, driving buying in altcoins, or if the recovery stalls. We’ll do this by looking at the charts of the top 10 cryptocurrencies.

Bitcoin Price Analysis:

Bitcoin went beyond the resistance mark $101,900 on December 12th, although it wasn’t able to stay at that level. If sellers want to remain dominant, they’ll have to push the price beyond $104,088. By doing so, the Bitcoin price could skyrocket to $113,331 and then to $125,000.

On the other hand, if the price dips and breaks below the 20-day exponential moving average ($96,916), it implies that the sellers are losing their grip. Bitcoin’s price may slide to $90,000, which will likely lure in buyers. The short-term trend will shift towards the buyers if they pull the price down below the 50-day simple moving average ($87,267).

If you want to get a more detailed analysis of other cryptocurrencies like Ether, XRP, Solana, BNB, Dogecoin, Cardano, Avalanche, Chainlink and Shiba Inu – keep reading or check out the original article. It provides a really thorough breakdown of price predictions and market analysis for all these digital currencies.