December 12, 2024
Monthly Chart Reveals BTC’s Bull Market Target

Bitcoin (BTC) price today trades at $97,072.0 on 11 AM. BTC price hit a daily high of $97,086.0 today after a 2.11% move on November 29.

Why Bitcoin Price Today Is Rising?

As mentioned, Bitcoin price today is up 2.11% after BTC crashed 8.88% and currently auctions around $97,072.0. Despite the recent drop, BTC shows signs of recovery and trades around $97,072.0. Many were seen preemptively celebrating Bitcoin hitting $100,000 on Friday, but the recent crash has revealed that BTC has other plans. Regardless, one thing is clear – investors are eager to see Bitcoin cross the historic six-digit level. While some altcoins are shooting up, most are waiting for BTC to cool off.

From the looks of it, Bitcoin price looks ready to recover and is showing signs of forming a local bottom.

*bitcoin price updated as of 11 AM.

Value of BTC trades at $97,072.0, bringing the year-to-date gain from 56% on October 20 to 120% as of November 29. 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 at 45%, 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.

BTC Price to Finish 2024 on Bullish Note

Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end November 2024 on a positive note. Many even expect a six-digit target for BTC by the end of November, and this is due to the historical returns. History shows that Bitcoin has always performed massively in the fourth quarter.

Historical Bitcoin Price PerformanceHistorical Bitcoin Price Performance
Historical Bitcoin Price Performance

With that said, if Bitcoin price hits a new ATH in November or December, Bitcoin’s market capitalization, which stands at $1,921.0 billion, could finally hit the $2 trillion mark.

Bitcoin’s Market Capitalization

While Bitcoin’s market cap hovers around $1,921.0 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 $43.3 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.

Key Bitcoin Blockchain Updates

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.

Bitcoin Network 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 Month

Date Price Change
November 29, 2024 95079.43 -0.96%
November 30, 2024 99951.93 4.11%
December 01, 2024 102517.29 6.78%
December 02, 2024 103513.09 7.82%
December 03, 2024 103545.88 7.86%
December 04, 2024 103098.45 7.39%
December 05, 2024 102958.93 7.24%
December 06, 2024 103288.35 7.59%
December 07, 2024 103557.43 7.87%
December 08, 2024 103769.55 8.09%
December 09, 2024 104328.52 8.67%
December 10, 2024 105068.12 9.44%
December 11, 2024 104699.12 9.06%
December 12, 2024 105285.35 9.67%
December 13, 2024 106648.93 11.09%
December 14, 2024 107159.25 11.62%
December 15, 2024 106381.42 10.81%
December 16, 2024 105688.02 10.09%
December 17, 2024 105434.33 9.82%
December 18, 2024 104885.54 9.25%
December 19, 2024 102977.95 7.26%
December 20, 2024 103018.41 7.31%
December 21, 2024 104452.43 8.8%
December 22, 2024 106422.71 10.85%
December 23, 2024 108520.56 13.04%
December 24, 2024 110410.34 15.01%
December 25, 2024 110503.83 15.1%
December 26, 2024 110463.12 15.06%
December 27, 2024 110721.77 15.33%
December 28, 2024 111035.98 15.66%

Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $110,724 in the coming month. 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 $113,073.12 $110,070.62 $111,571.88

79.5%

February $111,917.25 $109,105.27 $110,511.26

77.8%

March $110,761.38 $108,139.91 $109,450.65

76%

April $109,605.51 $107,174.55 $108,390.04

74.3%

May $108,449.64 $106,209.19 $107,329.42

72.6%

June $107,293.78 $105,243.84 $106,268.81

70.9%

July $106,137.91 $104,278.48 $105,208.20

69.2%

August $104,982.04 $103,313.12 $104,147.58

67.5%

September $103,826.17 $102,347.76 $103,086.97

65.8%

October $102,670.30 $101,382.41 $102,026.36

64.1%

November $101,514.43 $100,417.05 $100,965.74

62.4%

December $100,358.56 $99,451.69 $99,905.13

60.7%

All Time $106,715.84 $104,761.16 $105,738.50

70.1%

January $103,158.43 $102,729.05 $105,201.70

69.2%

February $105,958.30 $106,006.41 $110,498.28

77.7%

March $108,758.17 $109,283.77 $115,794.85

86.2%

April $111,558.04 $112,561.13 $121,091.42

94.8%

May $114,357.91 $115,838.49 $126,387.99

103.3%

June $117,157.78 $119,115.85 $131,684.57

111.8%

July $119,957.65 $122,393.20 $136,981.14

120.3%

August $122,757.52 $125,670.56 $142,277.71

128.8%

September $125,557.39 $128,947.92 $147,574.28

137.4%

October $128,357.26 $132,225.28 $152,870.86

145.9%

November $131,157.13 $135,502.64 $158,167.43

154.4%

December $133,957 $138,780 $163,464

162.9%

All Time $118,557.72 $120,754.52 $134,332.85

116.1%

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 Prediction 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 Price Analysis: BTC Likely to Hit $200,000

The short-term Bitcoin price chart, like 1-hour, 1-day, shows noise. Charles Edward of Capirole Fund illustrated this in his recent X post. In this tweet, Edward suggested that Bitcoin’s monthly chart has a massive upside potential. According to his thesis, a monthly candlestick close above the previous all-time high (ATH) often leads to four-to-seven-month consecutive up-close monthly candlesticks. This bullish thesis makes sense despite the limited data, considering that BTC consolidated for seven months. 

According to Edwards, Bitcoin is “just warming up,” and “at least 4 massive monthly candles” could follow.

BTC/USD 1-month chartBTC/USD 1-month chart
BTC/USD 1-month chart

Supporting this outlook and showcasing that the bull run has just begun is the Google Trends result for the “Crypto” keyword. The search volume for crypto is just above the March 2024 levels, which is well below the 2021 peak.

Crypto Google TrendCrypto Google Trend
Crypto Google Trend

With retail investors yet to arrive, Bitcoin forecasting at least four bullish monthly candlesticks suggests that $100,000 is just the beginning. During peak bull run, BTC could hit $200,000.  This cycle top could form around October 2025, as the Mars Vesta Bitcoin cycle thesis noted.

To add more credence to this outlook, Charles Edwards notes how Gold’s market capitalization increased by $3.8 trillion in just 16 weeks. Comparing Gold’s massive uptick with Bitcoin, Edwards added, “It wouldn’t be surprising to see $200K Bitcoin in 4-12 weeks.”

The founder of Capriole Fund goes on to note that this target is contingent on Bitcoin price producing “a strong $100K breakout.” To conclude, Edwards compares how Bitcoin is superior to Gold in aspects like liquidity, and fungibility and how BTC is a divisible asset that trades 24/7.

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