Bitcoin (BTC) Crypto News Today
Bitcoin (BTC) was invented by a pseudonymous individual or group named Satoshi Nakamoto in 2008 and is the world’s first enduring cryptocurrency that succeeded where decades of digital cash experiments failed.
Bitcoin’s monetary policy is enforced through a unique blend of software, cryptography, and financial incentives rather than the whim of trusted third parties. The Bitcoin network is powered by a cryptographically secure, verifiable database called the blockchain, itself a technological phenomenon.
The Bitcoin ecosystem consists of a global network of stakeholders, including the miners that secure the network and drive the issuance of the Bitcoin currency, the traders who speculate on this radically market-driven asset, and the builders working to onboard people to the cryptocurrency paradigm.
At Cointelegraph, we are chronicling the ongoing story of Bitcoin and the rise of a borderless, permissionless financial system. What has changed since Satoshi wrote the Bitcoin white paper? How is Bitcoin trading developing over the years, what are the best ways of investing in Bitcoin, and how do Bitcoin futures influence blockchain adoption? How will industry stakeholders work to make Bitcoin a mainstay in people’s lives, and will incumbent and legacy systems accept or fight this change?
Stay tuned.
Key facts today:
Bitcoin demand surged, gaining 228,000 BTC since late September. Available supply is at a four-year low, and OTC desk inventory fell by 26,000 BTC in 2024, indicating strong institutional interest.
Bitcoin Overview
- Our real-time BTC to USD price update shows the current Bitcoin price as $97,504 USD.
- Our most recent Bitcoin price forecast indicates that its value will increase by 8.13% and reach 105433.62 by December 23, 2024.
- Our technical indicators signal about the bearish bullish 48% market sentiment on Bitcoin, while the Fear & Greed Index is displaying a score of 73 (greed).
- Over the last 30 days, Bitcoin has had 16/30 (53%) green days and 3.14% price volatility.
Bitcoin (BTC) Technical Overview
When discussing future trading opportunities for digital assets, it is essential to pay attention to market sentiments.
Bitcoin (BTC) Price Prediction For Today, Tomorrow and Next 30 Days
- DatePriceChangeDecember 22, 202499723.382.28%December 23, 2024102585.675.21%December 24, 2024105433.628.13%December 25, 2024106532.119.26%December 26, 2024107623.8110.38%December 27, 2024108305.0411.08%December 28, 2024108956.8911.75%December 29, 2024108433.7211.21%December 30, 2024107920.0910.68%December 31, 2024107690.4610.45%January 01, 2025107532.9210.29%January 02, 2025109076.5511.87%January 03, 2025110612.0913.44%January 04, 2025111989.8314.86%January 05, 2025113313.5516.21%January 06, 2025113742.0316.65%January 07, 2025114199.0217.12%January 08, 2025115065.8018.01%January 09, 2025115990.0718.96%January 10, 2025117642.4020.65%January 11, 2025118975.9022.02%January 12, 2025116706.5519.69%January 13, 2025114573.0717.51%January 14, 2025113823.0616.74%January 15, 2025113133.9416.03%January 16, 2025113008.1215.9%January 17, 2025113014.6415.91%January 18, 2025114141.0517.06%January 19, 2025115080.9618.03%January 20, 2025114568.9117.5%
Bitcoin Historical
According to the latest data gathered, the current price of Bitcoin is $69,824.68, and BTC is presently ranked No. 1 in the entire crypto ecosystem. The circulation supply of Bitcoin is $1,375,660,239,109.04, with a market cap of 19,701,634 BTC.
In the past 24 hours, the crypto has increased by $1,277.79 in its current value.
For the last 7 days, BTC has been in a good upward trend, thus increasing by 12.82%. Bitcoin has shown very strong potential lately, and this could be a good opportunity to dig right in and invest.
During the last month, the price of BTC has increased by 5.49%, adding a colossal average amount of $3,833.37 to its current value. This sudden growth means that the coin can become a solid asset now if it continues to grow.
How low can the Bitcoin price go?
This drop has led to questions on whether this level is the local top for BTC price and, if so, how low can Bitcoin go over the next few days.
December 2023 Bitcoin fractal hints at $88,000
Between December 2023 and January 2024, the BTC/USD trading pair exhibited a rounded accumulation pattern, consolidating within a rectangular range ($39,000–$46,000).
After a brief correction following a local high, Bitcoin broke out of the range and rallied sharply to $66,000 by March 2024.
The current pattern demonstrates similar price action, with Bitcoin consolidating between $88,000 and $102,000. As of Dec. 20, BTC price could be undergoing a correction toward the channel’s lower boundary zone defined by the $88,000–$90,000 range.
If history repeats, Bitcoin may initially dip toward $88,000 in December, only to rebound toward the $102,000 resistance and beyond thereafter.
Popular trader Follis says $120,000 is the breakout target if this happens.
Will Bitcoin copy the 30% crash in November ’21?
However, a Bitcoin fractal on a weekly timeframe indicates that a broader price correction could be in play. BTC’s price now exhibits signs of bearish divergence, reminiscent of its 2021 market top.
The divergence is highlighted by the relative strength index (RSI) forming lower highs despite BTC/USD reaching higher highs, signaling weakening bullish momentum and a potential price correction ahead.
The 2021 bearish divergence preceded a significant drop from Bitcoin’s then-all-time high near $69,000, with the price eventually bottoming near $15,000 in late 2022.
A similar divergence appears now as BTC failed to maintain its position above $100,000.
Thus, on longer time frames, the key support to watch lies at the 50-week EMA, which will be around $66,600 by January 2025. If that fails to hold, the next support is at $57,000, which is the 0.786 Fibonacci retracement level.
