Bitcoin Hits $100K, Creates New Millionaires; Analysts Predict Continued Bullish Trend
December 20, 2024Santana advises that any potential price dips to these support levels should be seen as buying opportunities, although such chances may be infrequent.
Looking ahead, Santana predicts that 2025 will usher in a significant bull market for Bitcoin, fueled by institutional investments and accumulation strategies among major investors.
Despite facing minor bearish movements and speculative news, Bitcoin's resilience is evident as it continues to trade above the $100,000 threshold.
Santana encourages traders to focus on long-term trends rather than short-term fluctuations, reinforcing the notion that Bitcoin's bullish trend is intact.
Bitcoin's recent surge past the $100,000 mark has created 14,211 new millionaires and four new billionaires, underscoring its wealth-generating potential.
Currently trading at approximately $97,947.02, Bitcoin experienced a minor correction of 3.23%, which analyst Alan Santana views as insignificant 'chart noise' within a broader bullish trend.
The bullish trend for Bitcoin remains strong, with significant support levels identified at $80,000, $90,000, and $100,000 for daily and weekly trends.
On a daily basis, the main support level for Bitcoin is $100,000, while $90,000 and $80,000 serve as critical benchmarks on weekly and monthly frames, respectively.
In addition to Bitcoin, altcoins are also showing growth, with many gaining three to five times from their market lows, indicating further potential for development.
The primary strategy among large investors remains accumulation, reflecting long-term optimism for Bitcoin and the overall cryptocurrency market.
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Crypto News Flash • Dec 20, 2024
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