BTC aims at $90,000. Is it still far from $100,000?
What are the driving factors of the current crypto market? How long will it take for BTC to reach the $100,000 mark?
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Bitcoin entered December, breaking through $38,000, with the potential to surge to $42,000 within the month.
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In a volatile market filled with memecoins centered around deceased diplomats and critics of Bitcoin, the leading cryptocurrency, Bitcoin, maintains resilience, surging above $38,000, as reported by CoinGecko.
BTC Reaches $38,077 in 24 Hours
Bitcoin's value reached $38,077 within a day, following a brief touch at $38,143 overnight on Wednesday. This marks Bitcoin's third breach of the $38,000 mark since the previous Friday, reaching levels not witnessed since May 2022. During that period, Bitcoin experienced a gradual decline from its all-time high of over $60,000 in October 2021 to as low as $16,500 by November 2022.
Notable Growth in the Past Month
The recent peak indicates a notable 10% surge in Bitcoin's value over the last 30 days, reflecting a remarkable 121% increase in the past year.
Bullish Sentiment Surrounds Bitcoin
Bitcoin's consistent performance has sparked optimistic discussions, fueled by ongoing reports of numerous pending Bitcoin spot ETF applications, including a new addition on Wednesday. Additionally, relatively positive feedback from The Fed adds to the optimistic outlook.
Ethereum Gains Momentum
Ethereum, a perennial second-place digital asset, is also making gains in early December, currently priced at $2,090, approaching the $2,119 observed on Black Friday. Although a significant increase, Ethereum is distant from its peak of $4,732 on November 11, 2021.
Solid Performance by Altcoins
Other cryptocurrencies, such as Solana and Dogecoin, have witnessed substantial gains over the past weeks, with current values surpassing $60 and $0.084, respectively. These represent increases of 59% and 23% over the last 30 days.
Despite the positive trends, it's essential to remain cautious, as cryptocurrency markets are known for their volatility. Investors should carefully assess the ongoing market dynamics and potential risks associated with the current bullish sentiment.
Gain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveSG
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