Bitcoin’s Record ATH Surge: Key Factors Behind the Rise and Future Predictions

Quick Summary:

Analysts anticipate more expansion since higher lows and the development of bullish patterns indicate a long-term upward trend.  Related Reading: Bitcoin Price Moves Similarly To The Elliot Wave Count From 2017, Why Price Can Jump Another 80% Bitcoin Price Prediction After reaching a high of $107,756.83 on December 17, Bitcoin is currently rising, rising 1.74% in the previous day and 10.83% in the last week.

Reasons Behind the Rise The price surge of Bitcoin has been largely driven by institutional investment, as evidenced by the large purchases of Bitcoin by companies such as MicroStrategy and Riot Platforms, which have increased market confidence.

Earlier this month, it reached a record high of $100,000 and had an 18.41% increase over the previous 30 days.  Chart illustrating BTC reaching an all-time high of $107,756.83 on December 17, 2024, based on TradingView.com According to analysts, BTC’s surge to a new ATH was driven by a series of short liquidations.

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Article Details

Author / Journalist: Desmond Hodin

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin chart Btc Crypto news Bitcoin Bitcoin news Cryptocurrency Market News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-18 @ 12:29:17 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 300 words

Reading Time: 2 minutes read

Sentences: 38 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 24539893

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Main Topics: Crypto

Official Website: newsbtc.com

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