Bitcoin: How You Can Hit $ 98,000 Before December

Bitcoin: How You Can Hit $ 98,000 Before December

More reasons to keep climbing. It is the incentive that moves Bitcoin right now. At this time, in which the portfolios begin to move towards the end of the year, the cryptocurrency with the most value in the market shows in recent sessions a moderate profit taking, so normal and natural after the maximums reached on the 10th of this month above $ 68,990.

And it is that we are going to maximums per month as it is clear from the levels that Bitcoin handles right now. A progression, which without being as stratospheric as other virtual currencies present, yes it comes accompanied, as we have been counting with greater push in its “legitimation” by the big players in the market and especially the funds, which have poured in with the value.

Thus, from the lows of the last full year just a year ago, at $ 15,795, the value recovers above 300% nothing less, while in its somewhat more recent evolution we see how Bitcoin advances 5.3% in the last five closed sessions, 2.66% is what it gains in the last month, it advances 35% in the quarter and so far this year it has earned 121.5% to reach a 294% revaluation from November 2020.

Bitcoin asset annual price

Right now a good part of the eyes are on in Plan B and its Stock-To-Flow (SF2) prediction model that puts the price of Bitcoin at $ 98,000 per asset before the end of November. A unique model for this cryptocurrency that would mean a 54% advance over current levels. Putting on the table his prediction does not reach 40% of the total, in a survey of 242,000 participants, who believe that it will reach levels of 100,000 by the end of the year.

But the estimates from Plan B, that have been fulfilled numerous times, project much more: $ 135,000 at the end of the year, as we see in the graph that it includes. This model, started in March 2019, is based on the relationship between the production of its supply and the current stock of Bitcoin, assessing that its scarcity in the market drives its price.

Bitcoin Plan B projections for the asset

The truth is that the strength of Bitcoin by capitalization is also gaining strength of its own. We have seen it in the classification that CompaniesMarketCap has established placing the asset as the eighth by capitalization, beating Tesla and Meta and behind silver, in a ranking led by gold and, as far as companies are concerned, on the podium, with Microsoft, Apple and Aramco, all three above two trillion dollars in market value . That leadership of the gold, in fact, quadruples the capitalization of the global cryptocurrency market as a whole.

Bitcoin global capitalization with respect to securities and assets

The increase in its price in the last week, with new highs, the seconds in just a month, they have dethroned Tesla, plagued again by Elon Musk’s own actions and also surpassing Meta, the old Facebook, which however is not diminished by the bad press in the market.

The premium indicators prepared by Investment Strategies place Bitcoin, in bullish mode and with an improvement of two points, the total score of the asset in 8.5 points out of 10 possible for the value. On the negative side, the business volume in the medium term stands out, which is decreasing as well as the increasing volatility, also in the medium term.

Among the best, The upward trend stands out in its two aspects, in the medium and long term. The total slow moment that is positive for the value, both slow and fast, as well as the volume of business and the long-term volatility in both cases that is, respectively, increasing and decreasing.

If you want to know the most bullish values ​​of the stock market, register for free in Investment Strategies.

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