Bitcoin Price Prediction December 2024: Data Suggests All-Time High With Gains Over 30%
What is the price forecast for Bitcoin in December 2024? Historical data suggests that December could be a very positive month for the largest cryptocurrency on the market.
Today, November 30, renowned cryptocurrency analyst Ali Martinez shared a chart showing Bitcoin’s developments since 2013. The expert noted that the asset’s historic price rise has been influenced by the US presidential election in recent years. This year was no different, with the largest cryptocurrency beginning a bullish rally following the victory of crypto-supporter Donald Trump, reaching a new all-time high of $99.645,39 on the 22nd. This month, Bitcoin’s price has increased by almost 34%.
As per the data shared by the expert, in 2016 and 2020, Bitcoin recorded returns of 30.8% and 46.92%, respectively. The analyst suggested that by December 2024, BTC could mirror the pattern and rise above 30%.
But what will the price of Bitcoin be in December 2024? According to Martinez, if history repeats itself, Bitcoin could see a bullish breakout towards new all-time highs between an impressive $125.000–$140.000.
“Historically, Bitcoin $BTC has surged in December following the US presidential election, with gains of 30% and 46% over the last two cycles. If history repeats itself, we could see $BTC closing the year in the $125.000–$140.000 range!” wrote ".
Source: Ali Martinez
The survey also revealed that the average return in recent years in December is 5.45%. Interestingly, since 2013, the highest monthly return in December was recorded in 2020, when the current US president, Democrat Joe Biden, defeated now president-elect Donald Trump.
At the time of publication, the price of Bitcoin was quoted at US$96.571,56, down 0.5% in the last 24 hours.
Bitcoin Signals Beginning of Parabolic Phase; What’s Next?
A renowned analyst observed in his recent technical analysis that Bitcoin may have entered a parabolic phase, estimating the imminence of strong increases in its price. The market expert known as Rekt Capital highlighted that Bitcoin recently gave the 'first signal' to start its parabolic phase.
Bitcoin’s move breaking above its resistance zone formed near the 2021 cycle high, below the $70 level, is “essentially the first signal to kick off the parabolic phase,” the analyst emphasized in his technical analysis shared on YouTube.
Based on historical patterns, the analysis highlighted that the largest cryptocurrency could experience several months of rising prices, extending over a period of between nine and twelve months.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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