30s Summary

Bitcoin hit a record high as Wall Street began its trading week on December 16, rising nearly $2,000 in an hour. The surge was partly due to business intelligence firm MicroStrategy adding $1.5 billion of Bitcoin to its corporate wallet, bringing its total holdings to $46.38 billion. Traders speculate that Bitcoin’s future price point could be around $150,000, and other cryptocurrencies might gain traction once Bitcoin reaches certain milestones. Bitcoin dominated the top ten cryptocurrencies in daily gains at the time of writing, with Ether leading altcoins with a 1.2% increase.

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Bitcoin stepped things up a notch as Wall Street kicked off its trading week on December 16, reaching for another record high.
According to info from Cointelegraph Markets Pro and TradingView, Bitcoin’s price shot up nearly $2,000 in just an hour. This is a change from previous weeks where market trends didn’t seem too excited. This time, the market responded positively to news that business intelligence company MicroStrategy bought even more Bitcoin for its corporate wallet. They just added $1.5 billion in Bitcoin, taking their total digital stash to $46.38 billion with 439,000 Bitcoins.
QCP Capital, a trading firm, threw in its two cents, suggesting that since MicroStrategy made it into the Nasdaq 100 index last week, they might find it easier to raise capital for future Bitcoin acquisitions.

Bitcoin’s shifting price made for an exciting week following its highest weekly close ever. Famous trader Skew pointed out that Bitcoin buyers were still interested even as prices almost reached new peaks. He suggested that we might already be seeing signs of a short-term price shift with Bitcoin sellers clustering between $108,000 and $111,000.
Stepping back a bit, whales on Kraken, a popular crypto exchange, were being watched closely for hints about where Bitcoin might stabilize in the long run. The magic number could be somewhere around $150,000.

Other traders are speculating that once Bitcoin hits its big-number target (like $130,000), other cryptocurrencies (altcoins) might start getting more attention. They noticed this same pattern when Bitcoin crossed the $40,000 mark back in 2020, sparking interest in altcoins.

At the time of writing, Bitcoin was bossing the top ten cryptocurrencies in terms of daily gains – standing out from the bunch as other altcoins were just holding steady or down overall in dollar terms. The only one bucking the trend was Ether, which was up by 1.2% to nearly $4,000.
Just a heads up, although this info is fun to follow, don’t take it as investment advice or recommendations. Every investment and trading decision is risky, and you should only dive in after doing your own research.