Bitcoin Price Today Hits ATH After Trump’s BTC Reserve Promise, $150K Next?
Bitcoin price today trades at $103,758.0 on 12 PM after hitting a daily high of $106,352.0 today after a 0.63% move on December 16. Will BTC continue its ascent to set up new highs? Will profit-taking tirgger a correction?
Bitcoin Price Today: Why is BTC up?
Regardless of the recent crashes, Bitcoin price today is up 0.63% and trades at $103,758.0. The reason behind this uptick is President-elect Donald Trump’s BTC reserve promise as seen on Sunday during a CNBC interview. Trump emphasized that US should be the center for all things Bitcoin and crypto. During this conversation the President-elect mentioned his plans about BTC reserve. As a result, Bitcoin price shot up nearly 4% on Sunday and hit a new ATH of $106,727.
But is this enough to propel Bitcoin price to $150,000? What does technical analysis have to say about this? Does BTC’s on-chain metrics support this uptrend? Let’s find out.
Let’s find out.
*bitcoin price updated as of 12 PM.
Value of BTC trades at $103,758.0, bringing the year-to-date gain from 56% on October 20 to roughly 148% as of December 16. The YTD performance has slumped due to the recent BTC crash. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands around 73%, and is well below BTC.
Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009.
Can BTC Price To End 2024 on Bullish Note?
Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end 2024 on a positive note. Many even expect this six-digit target for BTC to sustained without crashes in 2025. This bullishness can be attributed to the historical returns, whihc shows that Bitcoin has always performed massively in the fourth and first quarters .
With that said, Bitcoin’s market capitalization, which stands at $2,055.0 billion, could finally hit the $2 trillion mark.
Bitcoin’s Market Capitalization
While Bitcoin’s market cap hovers around $2,055.0 billion, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization. Despite the seven-month consolidation, Bitcoin’s $1.93 trillion market cap remains strong, anticipating it reaching $2 trillion before 2025.
BTC: A composition of 24-hour Trading Volume
Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at $91.4 billion. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance.
Notable Bitcoin Blockchain Upgrades
With a market cap of $1.93 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly.
Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.
Key Bitcoin Blockchain Upgrades Since 2009
Here are some key milestone upgrades to the Bitcoin network over the past decade.
2020-2024:
- Taproot Upgrade (2021): Improved Bitcoin’s smart contract functionality, allowing for more complex transactions and enhanced privacy.Muir Glacier Upgrade (2020): Delayed the “ice age” that would have slowed down the network, ensuring the continued smooth operation of Bitcoin.
2017-2019:
- Segregated Witness (SegWit) Upgrade (2017): Increased the block size limit, allowing for more transactions to be processed on the network, and improved the overall scalability of Bitcoin.
- Schnorr/Tapscript Upgrade (proposed): Aims to further improve the efficiency and scalability of Bitcoin transactions, but has not yet been activated.
- SegWit2x (canceled): A proposed upgrade that aimed to increase the block size limit, but was ultimately canceled due to lack of consensus.
2015-2016:
- Bitcoin Core 0.12.0 Upgrade (2016): Introduced several improvements, including better wallet management and enhanced security features.
- BIP66 Upgrade (2015): Standardized the way Bitcoin transactions are verified, improving the overall security and reliability of the network.
2013-2014:
- Bitcoin Core 0.9.0 Upgrade (2014): Introduced a new wallet format and improved the overall performance of the Bitcoin client.
- BIP0016 Upgrade (2013): Enabled the use of payment protocol, allowing for more efficient and secure transactions.
2010-2012:
- Pay-to-Script-Hash (P2SH) Upgrade (2012): Introduced a new type of transaction that allows for more complex payment scenarios, improving the overall flexibility of the Bitcoin network.
- Bitcoin Core 0.6.0 Upgrade (2011): Introduced several improvements, including better wallet management and enhanced security features.
2009-2010:
- Bitcoin Core 0.3.0 Upgrade (2009): One of the earliest upgrades to the Bitcoin network, introducing several key features and improvements.
Bitcoin Price Outlook For Next 30 Days
| Date | Price | Change |
|---|---|---|
| December 16, 2024 | 101996.29 | -0.77% |
| December 17, 2024 | 103753.60 | 0.94% |
| December 18, 2024 | 105780.65 | 2.91% |
| December 19, 2024 | 107856.59 | 4.93% |
| December 20, 2024 | 109496.01 | 6.53% |
| December 21, 2024 | 109589.23 | 6.62% |
| December 22, 2024 | 109531.40 | 6.56% |
| December 23, 2024 | 109837.46 | 6.86% |
| December 24, 2024 | 110115.12 | 7.13% |
| December 25, 2024 | 110032.85 | 7.05% |
| December 26, 2024 | 109806.09 | 6.83% |
| December 27, 2024 | 110286.44 | 7.3% |
| December 28, 2024 | 112152.29 | 9.11% |
| December 29, 2024 | 114315.42 | 11.22% |
| December 30, 2024 | 115208.29 | 12.08% |
| December 31, 2024 | 115196.63 | 12.07% |
| January 01, 2025 | 114853.77 | 11.74% |
| January 02, 2025 | 114767.62 | 11.66% |
| January 03, 2025 | 115142.11 | 12.02% |
| January 04, 2025 | 115935.81 | 12.79% |
| January 05, 2025 | 116364.61 | 13.21% |
| January 06, 2025 | 116303.31 | 13.15% |
| January 07, 2025 | 116031.61 | 12.89% |
| January 08, 2025 | 115805.44 | 12.67% |
| January 09, 2025 | 115890.81 | 12.75% |
| January 10, 2025 | 114559.05 | 11.45% |
| January 11, 2025 | 114184.66 | 11.09% |
| January 12, 2025 | 114355.88 | 11.26% |
| January 13, 2025 | 114658.51 | 11.55% |
| January 14, 2025 | 116677.82 | 13.51% |
Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $108,918 as of December 31. While there may be a brief correction, BTC’s trend remains bullish. Bitcoin Price Forecast Between 2025 and 2029
Bitcoin Price Outlook Between 2025 & 2029
| January | $101,861.10 | $115,330.75 | $108,595.92 |
74.7% |
| February | $101,725.91 | $115,453.21 | $108,589.56 |
74.7% |
| March | $101,590.71 | $115,575.67 | $108,583.19 |
74.6% |
| April | $101,455.52 | $115,698.13 | $108,576.83 |
74.6% |
| May | $101,320.33 | $115,820.59 | $108,570.46 |
74.6% |
| June | $101,185.14 | $115,943.06 | $108,564.10 |
74.6% |
| July | $101,049.94 | $116,065.52 | $108,557.73 |
74.6% |
| August | $100,914.75 | $116,187.98 | $108,551.36 |
74.6% |
| September | $100,779.56 | $116,310.44 | $108,545 |
74.6% |
| October | $100,644.37 | $116,432.90 | $108,538.63 |
74.6% |
| November | $100,509.17 | $116,555.36 | $108,532.27 |
74.6% |
| December | $100,373.98 | $116,677.82 | $108,525.90 |
74.6% |
| All Time | $101,117.54 | $116,004.29 | $108,560.91 |
74.6% |
| January | $103,172.57 | $118,519.67 | $113,104.08 |
81.9% |
| February | $105,971.15 | $120,361.52 | $117,682.25 |
89.3% |
| March | $108,769.74 | $122,203.37 | $122,260.43 |
96.6% |
| April | $111,568.32 | $124,045.21 | $126,838.60 |
104% |
| May | $114,366.91 | $125,887.06 | $131,416.78 |
111.4% |
| June | $117,165.49 | $127,728.91 | $135,994.95 |
118.7% |
| July | $119,964.08 | $129,570.76 | $140,573.13 |
126.1% |
| August | $122,762.66 | $131,412.61 | $145,151.30 |
133.5% |
| September | $125,561.25 | $133,254.46 | $149,729.48 |
140.8% |
| October | $128,359.83 | $135,096.30 | $154,307.65 |
148.2% |
| November | $131,158.42 | $136,938.15 | $158,885.83 |
155.6% |
| December | $133,957 | $138,780 | $163,464 |
162.9% |
| All Time | $118,564.78 | $128,649.83 | $138,284.04 |
122.4% |
| January | $139,801.17 | $144,684.75 | $169,276.92 |
172.3% |
| February | $145,645.33 | $150,589.50 | $175,089.83 |
181.6% |
| March | $151,489.50 | $156,494.25 | $180,902.75 |
191% |
| April | $157,333.67 | $162,399 | $186,715.67 |
200.3% |
| May | $163,177.83 | $168,303.75 | $192,528.58 |
209.7% |
| June | $169,022 | $174,208.50 | $198,341.50 |
219% |
| July | $174,866.17 | $180,113.25 | $204,154.42 |
228.4% |
| August | $180,710.33 | $186,018 | $209,967.33 |
237.7% |
| September | $186,554.50 | $191,922.75 | $215,780.25 |
247.1% |
| October | $192,398.67 | $197,827.50 | $221,593.17 |
256.4% |
| November | $198,242.83 | $203,732.25 | $227,406.08 |
265.8% |
| December | $204,087 | $209,637 | $233,219 |
275.1% |
| All Time | $171,944.08 | $177,160.88 | $201,247.96 |
223.7% |
| January | $212,511.67 | $218,298 | $243,655 |
291.9% |
| February | $220,936.33 | $226,959 | $254,091 |
308.7% |
| March | $229,361 | $235,620 | $264,527 |
325.5% |
| April | $237,785.67 | $244,281 | $274,963 |
342.3% |
| May | $246,210.33 | $252,942 | $285,399 |
359% |
| June | $254,635 | $261,603 | $295,835 |
375.8% |
| July | $263,059.67 | $270,264 | $306,271 |
392.6% |
| August | $271,484.33 | $278,925 | $316,707 |
409.4% |
| September | $279,909 | $287,586 | $327,143 |
426.2% |
| October | $288,333.67 | $296,247 | $337,579 |
443% |
| November | $296,758.33 | $304,908 | $348,015 |
459.8% |
| December | $305,183 | $313,569 | $358,451 |
476.5% |
| All Time | $258,847.33 | $265,933.50 | $301,053 |
384.2% |
| January | $317,150.58 | $326,144.33 | $372,391.92 |
499% |
| February | $329,118.17 | $338,719.67 | $386,332.83 |
521.4% |
| March | $341,085.75 | $351,295 | $400,273.75 |
543.8% |
| April | $353,053.33 | $363,870.33 | $414,214.67 |
566.2% |
| May | $365,020.92 | $376,445.67 | $428,155.58 |
588.7% |
| June | $376,988.50 | $389,021 | $442,096.50 |
611.1% |
| July | $388,956.08 | $401,596.33 | $456,037.42 |
633.5% |
| August | $400,923.67 | $414,171.67 | $469,978.33 |
655.9% |
| September | $412,891.25 | $426,747 | $483,919.25 |
678.4% |
| October | $424,858.83 | $439,322.33 | $497,860.17 |
700.8% |
| November | $436,826.42 | $451,897.67 | $511,801.08 |
723.2% |
| December | $448,794 | $464,473 | $525,742 |
745.6% |
| All Time | $382,972.29 | $395,308.67 | $449,066.96 |
622.3% |
In the next year, aka 2025, Bitcoin price is likely to stay well above the six-digit territory and shows no signs of correction below it. Coingape’s Bitcoin price prediction data reveals a peak of $104,280.26 in February 2025.
Bitcoin Price Outlook Between 2030 and 2050
2030
2031
2032
2033
2040
2050
| January | $465,154.42 | $481,462.17 | $546,469.67 |
779% |
| February | $481,514.83 | $498,451.33 | $567,197.33 |
812.3% |
| March | $497,875.25 | $515,440.50 | $587,925 |
845.6% |
| April | $514,235.67 | $532,429.67 | $608,652.67 |
879% |
| May | $530,596.08 | $549,418.83 | $629,380.33 |
912.3% |
| June | $546,956.50 | $566,408 | $650,108 |
945.7% |
| July | $563,316.92 | $583,397.17 | $670,835.67 |
979% |
| August | $579,677.33 | $600,386.33 | $691,563.33 |
1012.3% |
| September | $596,037.75 | $617,375.50 | $712,291 |
1045.7% |
| October | $612,398.17 | $634,364.67 | $733,018.67 |
1079% |
| November | $628,758.58 | $651,353.83 | $753,746.33 |
1112.4% |
| December | $645,119 | $668,343 | $774,474 |
1145.7% |
| All Time | $555,136.71 | $574,902.58 | $660,471.83 |
962.3% |
| January | $667,167.08 | $691,240.58 | $802,526.58 |
1190.8% |
| February | $689,215.17 | $714,138.17 | $830,579.17 |
1235.9% |
| March | $711,263.25 | $737,035.75 | $858,631.75 |
1281.1% |
| April | $733,311.33 | $759,933.33 | $886,684.33 |
1326.2% |
| May | $755,359.42 | $782,830.92 | $914,736.92 |
1371.3% |
| June | $777,407.50 | $805,728.50 | $942,789.50 |
1416.4% |
| July | $799,455.58 | $828,626.08 | $970,842.08 |
1461.5% |
| August | $821,503.67 | $851,523.67 | $998,894.67 |
1506.7% |
| September | $843,551.75 | $874,421.25 | $1,026,947.25 |
1551.8% |
| October | $865,599.83 | $897,318.83 | $1,054,999.83 |
1596.9% |
| November | $887,647.92 | $920,216.42 | $1,083,052.42 |
1642% |
| December | $909,696 | $943,114 | $1,111,105 |
1687.1% |
| All Time | $788,431.54 | $817,177.29 | $956,815.79 |
1439% |
| January | $946,061.92 | $979,838.83 | $1,150,786.08 |
1751% |
| February | $982,427.83 | $1,016,563.67 | $1,190,467.17 |
1814.8% |
| March | $1,018,793.75 | $1,053,288.50 | $1,230,148.25 |
1878.6% |
| April | $1,055,159.67 | $1,090,013.33 | $1,269,829.33 |
1942.4% |
| May | $1,091,525.58 | $1,126,738.17 | $1,309,510.42 |
2006.3% |
| June | $1,127,891.50 | $1,163,463 | $1,349,191.50 |
2070.1% |
| July | $1,164,257.42 | $1,200,187.83 | $1,388,872.58 |
2133.9% |
| August | $1,200,623.33 | $1,236,912.67 | $1,428,553.67 |
2197.7% |
| September | $1,236,989.25 | $1,273,637.50 | $1,468,234.75 |
2261.6% |
| October | $1,273,355.17 | $1,310,362.33 | $1,507,915.83 |
2325.4% |
| November | $1,309,721.08 | $1,347,087.17 | $1,547,596.92 |
2389.2% |
| December | $1,346,087 | $1,383,812 | $1,587,278 |
2453% |
| All Time | $1,146,074.46 | $1,181,825.42 | $1,369,032.04 |
2102% |
| January | $1,387,378.67 | $1,426,572.58 | $1,647,465.92 |
2549.9% |
| February | $1,428,670.33 | $1,469,333.17 | $1,707,653.83 |
2646.7% |
| March | $1,469,962 | $1,512,093.75 | $1,767,841.75 |
2743.5% |
| April | $1,511,253.67 | $1,554,854.33 | $1,828,029.67 |
2840.3% |
| May | $1,552,545.33 | $1,597,614.92 | $1,888,217.58 |
2937.1% |
| June | $1,593,837 | $1,640,375.50 | $1,948,405.50 |
3033.9% |
| July | $1,635,128.67 | $1,683,136.08 | $2,008,593.42 |
3130.7% |
| August | $1,676,420.33 | $1,725,896.67 | $2,068,781.33 |
3227.5% |
| September | $1,717,712 | $1,768,657.25 | $2,128,969.25 |
3324.3% |
| October | $1,759,003.67 | $1,811,417.83 | $2,189,157.17 |
3421.1% |
| November | $1,800,295.33 | $1,854,178.42 | $2,249,345.08 |
3517.9% |
| December | $1,841,587 | $1,896,939 | $2,309,533 |
3614.7% |
| All Time | $1,614,482.83 | $1,661,755.79 | $1,978,499.46 |
3082.3% |
| January | $1,912,592.58 | $1,975,978.17 | $2,362,093.25 |
3699.3% |
| February | $1,983,598.17 | $2,055,017.33 | $2,414,653.50 |
3783.8% |
| March | $2,054,603.75 | $2,134,056.50 | $2,467,213.75 |
3868.4% |
| April | $2,125,609.33 | $2,213,095.67 | $2,519,774 |
3952.9% |
| May | $2,196,614.92 | $2,292,134.83 | $2,572,334.25 |
4037.4% |
| June | $2,267,620.50 | $2,371,174 | $2,624,894.50 |
4122% |
| July | $2,338,626.08 | $2,450,213.17 | $2,677,454.75 |
4206.5% |
| August | $2,409,631.67 | $2,529,252.33 | $2,730,015 |
4291.1% |
| September | $2,480,637.25 | $2,608,291.50 | $2,782,575.25 |
4375.6% |
| October | $2,551,642.83 | $2,687,330.67 | $2,835,135.50 |
4460.1% |
| November | $2,622,648.42 | $2,766,369.83 | $2,887,695.75 |
4544.7% |
| December | $2,693,654 | $2,845,409 | $2,940,256 |
4629.2% |
| All Time | $2,303,123.29 | $2,410,693.58 | $2,651,174.63 |
4164.3% |
| January | $2,753,723.75 | $2,916,544.25 | $3,019,295.17 |
4756.4% |
| February | $2,813,793.50 | $2,987,679.50 | $3,098,334.33 |
4883.5% |
| March | $2,873,863.25 | $3,058,814.75 | $3,177,373.50 |
5010.6% |
| April | $2,933,933 | $3,129,950 | $3,256,412.67 |
5137.7% |
| May | $2,994,002.75 | $3,201,085.25 | $3,335,451.83 |
5264.9% |
| June | $3,054,072.50 | $3,272,220.50 | $3,414,491 |
5392% |
| July | $3,114,142.25 | $3,343,355.75 | $3,493,530.17 |
5519.1% |
| August | $3,174,212 | $3,414,491 | $3,572,569.33 |
5646.3% |
| September | $3,234,281.75 | $3,485,626.25 | $3,651,608.50 |
5773.4% |
| October | $3,294,351.50 | $3,556,761.50 | $3,730,647.67 |
5900.5% |
| November | $3,354,421.25 | $3,627,896.75 | $3,809,686.83 |
6027.7% |
| December | $3,414,491 | $3,699,032 | $3,888,726 |
6154.8% |
| All Time | $3,084,107.38 | $3,307,788.13 | $3,454,010.58 |
5455.6% |
Roughly five years from now, aka 2030, Bitcoin’s price will see an explosion to the upside, with an all-time high of $774,474 in the aforementioned year. In the same period, BTC could reach a low of $465,154.42. Based on CoinGape predictions, the average price of BTC in 2050 is between $2.9 million and $3.3 million.
Investors should note that these long-term predictions can change and, hence, should be taken with a grain of salt.
Bitcoin Technical Analysis: Can BTC Continue its Ascent?
Bitcoin price has been heading higher and set up new all-time highs since November 11. Since this point, while BTC produced higher highs, the Relative Strength Index (RSI) set up lower highs. This non-conformity is termed bearish divergence and hints at an incoming correction.
Although highly unlikely, if this correction ensues, Bitcoin could drop below $90,000 to revisit the imbalances as shown in the below image. A dip into these gaps should show a strong reaction and resume the uptrend.
Under these conditions will Bitcoin be able to hit $150,000.
But is this bearish divergence enough to kickstart such a steep a correction? Let’s take a look at the on-chain metrics to figure that out.
The daily active addresses (DAA) has slumped since the March 2024 highs and hovers under the 800,000-mark despite Bitcoin price hitting a new all-time high. This outlook means one of two things – whales are responsible for this rally and retail is not here yet. However, it could also be interpreted as a bearish divergence, which supports the bearish technical outlook.
Therefore, investors need to be cautious of a short-term correction that knocks Bitcoin below $90,000. Should this crash occur, it would be bullish for long-term investors and would be a buy-the-dip opportunity before a retest of the next key hurdle at $150,000.
https://coingape.com/wp-content/uploads/2024/12/Bitcoin-Price-Today-Hits-ATH-After-Trumps-BTC-Reserve-Promise-150K-Next_.webp
