CryptoQuant analysts predict a sharp rise in bitcoin prices in December

The CEO of the analytical blockchain platform CryptoQuant, Ki Young Ju, has revised his previous forecast for a decline in the bitcoin rate BTC $96,206.29 Bitcoin -0.35% Market capitalization $1.91 trillion VOL. 24 hours $0.91 billion .

According to him, by the end of 2024, the price of the first cryptocurrency could reach $ 112,000. He emphasized that the positive momentum for bitcoin has not yet been exhausted.

However, Kee Young-Joo warned investors about possible corrections, as the futures market is now over-leveraged.

«The outlook for bitcoin has been revised. Stay optimistic in the long run, but be careful with leverage if you are a trader. We are in a bull market, and bitcoin will continue to grow,» said Joo.

It is noted that earlier it was expected that the liquidation of long positions with borrowed funds could put more pressure on the price of bitcoin, reducing its value. But now the situation has changed.

The expert noted that cryptocurrency exchanges are currently experiencing a significant inflow of stablecoins, which may be due to Donald Trump’s victory in the US presidential election.

Therefore, investors are currently expecting changes in regulatory policy towards the cryptocurrency industry.

At the time of writing, bitcoin’s price reached $ 90.871, its market capitalization is $ 1.80 trillion, and daily sales have stopped at $ 55.25 billion.

As a reminder, ARK Invest CEO Katie Wood believes that the value of bitcoin could reach $ 650,000 by 2030, even under a conservative scenario for the crypto market. In the optimistic case, the cryptocurrency can exceed $ 1.5 million if most large investment funds integrate BTC into their portfolios.