- Bitcoin has reached $100K after two years of growth and has gained strong traction in 2024.
- The digital asset shows resilience as it recovers from lows, drawing attention from more investors in conventional markets.
- Experts believe Bitcoin still has potential for growth, with no signals of an end to its current trend.
Bitcoin has risen above $100K as it maintains its momentum, marking the second consecutive year of over 100% growth. On December 6, 2024, the coin closed at $101,586 after reaching a high of $101,875 and a low of $92,143 during the day. This milestone reflects its ability to remain resilient in the midst of market shifts and shareholder interest.
Source:Jordi Visser
The crypto continues to recover strongly from its lowest point of $15,631, which occurred in November 2022. Over the past four years, BTC's average price has been approximately $41,350, showing its volatility and commercial potential. Bitcoin’s latest achievement has been bolstered by increased interest and concerns over traditional financial systems.
Market Expert Explains Bitcoin’s Climb
Market analyst Jordi Visser has highlighted the token's rise as part of a larger economic shift, particularly regarding concerns about currency devaluation. He noted that Bitcoin is increasingly seen as a reliable store of value and an alternative to fiat currencies.
Visser also compared Bitcoin’s current performance to the Nasdaq Composite Index during the 1990s, which grew steadily for a decade without any major corrections. He suggested that Bitcoin could follow a similar pattern, indicating that its current positive trend may still have more room to grow before reaching a peak.
From December 2020 to the present, Bitcoin’s diagram shows its seasonal movements. After hitting a peak in 2021, BTC saw a steep decline but began recovering in 2023. This upward trajectory has been accelerating throughout 2024, reaching the $100K mark, which demonstrates the desire from both retail and wealthy investors.
Debate Over Bitcoin’s Next Phase
The token's rapid rise has fueled discussions among analysts and investors about whether it is heading for another breakout or nearing a speculative peak. Some analysts believe that the current trends indicate that Bitcoin may still climb further, while others remain cautious, citing historical market corrections after such development.
Visser mentioned that signs typically seen before a market top have not yet appeared, suggesting more growth could still be possible. Many traders are optimistic that Bitcoin’s growing adoption will allow it to play a greater role in contemporary financial systems.
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