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3 reasons why Bitcoin can still reach $ 100,000 in December

 


Bitcoin at $ 100,000 - historical data speaks for it

The fact that Bitcoin should rise sharply in the next few weeks can be seen very well from the historical data of the Bitcoin price development that we are in the end phase of a bullish cycle. These cycles ended at the end of 2013 and 2017. 

Based on the course developments at the respective turn of the year, we can recognize clear patterns. From this data, we can clearly see that Bitcoin will approach $ 100,000 in the next few weeks and will very likely surpass it in December as well.

Bitcoin forecast model predicts value over $ 100,000

In addition to the data from the historical bull markets, we can use forecast models that can predict the price of Bitcoin in the next few weeks. One of these models is the stock-to-flow model, which has so far been able to predict price development with great accuracy. According to this model, Bitcoin should rise above $ 100,000 in December. According to this model, the peak is at $ 135,000.

Other forecast models also see Bitcoin in the range of over 100,000 dollars. Some even assume that the most important cryptocurrency could even surpass $ 200,000. In both cases, we will see a massive rally in the next few weeks.

Blockchain fundamentals are still excellent

The fundamentals of the Bitcoin blockchain continue to show clear signs. Bitcoin should continue to increase in value over the next few weeks. The liquid supply has been falling steadily since March of last year. This means that more and more Bitcoins are in the hands of mainly large investors.

A lower supply leads to a greater scarcity which, from a market economy point of view, should increase the price. Overall, according to these figures, Bitcoin is still severely undervalued and should rise to at least $ 100,000 in this cycle.

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