Bitcoin price prediction for today, December 5 – InsideBitcoins

bitcoin price prediction shows btc hit an all-time high of $104,000, indicating long-term bullish potential.

bitcoin Prediction Statistical Data:

• bitcoin Price Now – $102,486
• bitcoin market cap: $1.99 trillion
• bitcoin circulating supply: 19.79 million
• Total bitcoin supply: 19.79 million
• bitcoin Coinmarketcap Ranking – #1

Getting into cryptocurrencies early can lead to extraordinary profits, and bitcoin (btc) is the best example. On December 5, 2024, btc reached an all-time high of $103,900.47, demonstrating its incredible growth over the years. Surprisingly, in July 2010, btc was valued at just $0.04865, representing a staggering increase of +206,459,882.17% in 14 years. This means that an investment of just $10 at its lowest point would now be worth more than $20 million. btc's journey highlights the transformative power of early entry into crypto projects, proving that identifying potential at the right time can be life-changing.

btc/USD Long-Term Trend: Bullish (Daily Chart)

Key levels:

Resistance levels: $115,000, $117,000, $119,000

Support Levels: $88,000, $86,000, $84,000

bitcoin's recent rise to $103,629.86 represents a major break above the critical resistance at $98,000, reaching an all-time high of $104,000. The btc/USD pair is showing strong bullish momentum, with the price currently at $102,486.82, well above the 9-day and 21-day moving averages of $97,207.91 and $95,155.35, respectively. These moving averages are diverging upwards, indicating sustained buying pressure and reinforcing the uptrend on the daily chart.

bitcoin Price Prediction: bitcoin (btc) Prepares for More Advantages

Looking at the daily chart, bitcoin price is trading comfortably towards the upper boundary of the channel as the price establishes a new bullish signal. However, the long-term outlook arguably favors the bulls as the daily close produced a bullish candle with eyes now on the daily resistances of $115,000, $117,000 and $119,000 respectively.

In other words, any bearish move from the current level could generate critical supports below the 9-day and 21-day moving averages. Meanwhile, btc could fall and touch the support low of $97,000; Once this concentrates, the king coin may reach the support levels of $88,000, $86,000, and $84,000. In the broader context, bitcoin's long-term outlook remains positive, with paths towards $110,000 and $120,000 intact. However, the immediate market dynamics indicate the likelihood of a short-term correction.

btc/USD Medium-Term Trend: Bullish (4-hour chart)

On the 4-hour chart, bitcoin (btc) is trading at $102,614.69, above the 9-day and 21-day moving averages. The recent price action marks a significant move as btc broke above the upper boundary of the channel with a strong bullish crossover. This bullish momentum is further reinforced by the fact that the 9-day MA maintains its position above the 21-day MA, indicating continued bullish sentiment.

However, a possible move lower could occur if the bulls fail to maintain the bullish momentum, which could push the price below the 9-day moving average towards support at $98,000 or below. On the upside, if the bulls encounter resistance near $105,000 and manage to break through, btc/USD could extend its rally above the channel boundary, targeting higher resistance levels at $108,000 and beyond.

@AbsGMCrypto shared an interesting analysis with his followers on x (formerly twitter), highlighting how $btc has reached a historic milestone, surpassing $100,000 for the first time in human history. This moment marks a pivotal achievement for bitcoin, cementing its status as a revolutionary financial asset in the global market.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”7.1069182389937″>

BREAKING NEWS: <a target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc GO OVER $100,000 FOR THE FIRST TIME IN THE HISTORY OF MANKIND! pic.twitter.com/H3cVN9InRA

– Good morning crypto (@AbsGMCrypto) <a target="_blank" href="https://twitter.com/AbsGMCrypto/status/1864520258905649223?ref_src=twsrc%5Etfw”>December 5, 2024

bitcoin Alternatives

bitcoin is currently trading within an ascending channel, with support at $97,952 and resistance around $115,000. A break above $110,000 could signal further gains, while failure to sustain momentum could result in a pullback towards $98,000. Moderate trading volume indicates healthy market participation, reinforcing the bullish trend. Meanwhile, Pepe Unchained, a fast-growing crypto project, has attracted attention for its high growth potential, with expected returns of between 10 and 100 times. Having raised more than $73 million in its pre-sale, it is set to list on major stock exchanges on platforms such as Binance, Coinbase and Robinhood.

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