The entire market witnessed a bullish weekend, with the world’s largest cryptocurrency, Bitcoin (BTC), reaching a new all-time high. BTC surged all the way to a high of $107,780.58 on Monday. In addition to this, the king coin also reached a new peak against gold. All of these factors highlight the potential uptick that Bitcoin could record over the next couple of days.
Also Read: Dogecoin: New Price Forecast Predicts Doge To Claim $3 – Here’s How?
How High Is Bitcoin Currently Trading?
At press time, the king coin was trading 1.28% below its latest all-time high. The asset was priced at $106,472, with a 1.41% rise over the past 24 hours. Amidst this price spike, Bitcoin’s market cap rose to a high of $2.13 trillion.
The largest cryptocurrency was related to the US government. Adding to the fervor of cryptocurrency bulls, President-elect Donald Trump restated his intention to establish a strategic reserve of BTC in the country, akin to its strategic oil reserve. Tony Sycamore, an analyst at IG, spoke about BTC’s potential surge and said,
“We’re in blue sky territory here. The next figure the market will be looking for is $110,000. The pullback that a lot of people were waiting for just didn’t happen, because now we’ve got this news.”
Also Read: Ethereum Hits $4,000 Again: Will ETH Reclaim Its All-Time High?
December Price Prediction
It seems like this Christmas is bringing immense joy to the cryptocurrency community. Bitcoin is expected to continue its uptrend and record new peaks over the next couple of days. According to data from CoinCodex, the king coin is expected to trade at $112,395. This translated to a 5.33% uptick from its current price level.
The market is all set to experience a major rise. Along with Bitcoin, the rest of the industry’s assets could also record an increase over the next couple of days.
Also Read: Walmart is Yahoo’s Company of the Year: What’s It’s Stock Future?
