Bitcoin falls below $42,000, nearly 2% drop

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Last Updated on 17 December 2023 by CryptoTips.eu

Since Bitcoin’s latest high of $44,700, this coin has been witnessing significant resistance, and today, the coin has re-recorded a drop below $42,000. However, most traders are speculating that this coin is still going to end the year higher than the latest ATH.

For weeks, BTC has been on a steady climb after the coin traded in a narrow range for months. The sudden short-term ranging that’s currently happening triggered a significant spike in liquidation.

Even though BTC keeps hovering below $42,000 and bouncing back, most investors still believe this coin’s bull run is not done yet.

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Can Bitcoin reach $100,000 in 2 weeks?

BTC has rallied more than 80% since the year started. And with such a massive surge, it’s surpassed most investors’ expectations and other crypto assets. In fact, the entire crypto industry is overly excited with the new peak of BTC.

But is an all-time high of $100,000 possible in the next two weeks? If that were to happen, this coin would have recorded a new breaking record, surpassing its previous ATH of around $69,000.

The current bullish trend and optimism surrounding this crypto is because the FED has finally reached the end of the tightening cycle with their interest rates. That means investors now have more money to spend on speculative assets such as Bitcoin.

On top of that, the Fed officials are optimistic about this crypto, and we might see the first Bitcoin ETF being approved soon. And with the pending approval of the ETFs on the horizon, we could witness a significant increase in Bitcoin adoption, further pumping the coin’s price even higher.

But is that enough to take this coin’s price to $100,000? Unfortunately, it’s less likely to happen, at least not in two weeks. However, it could happen next year. If you look at Bitcoin’s price movement, there still isn’t enough momentum to pump the coin all the way to $100,000 in such a short time.

Will Bitcoin reach $100,000 in 2025?

Recently, Standard Chartered Bank raised its prediction for BTC’s price to range between $100,000 and $1,200,000 by the end of 2024. The bank cited that miners will likely profit more from the price change.

Other banks predict this cryptocurrency will reach $1 million in five years. And with all the positive news around BTC, $100,000 in 2025 seems more likely.

Also Twitter influencers seem to be optimistic about the future of Bitcoin.

Overall, BTC’s future is bright, and we have yet to see how high this coin can go.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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