Bitcoin Price Prediction: BTC Sets A New ATH Above $106K As This PEPE Derivative ICO Heads For $25 Million
Release: 2024/12/16 16:34 Reading: 364
Bitcoin Price Surges, Could Average $500,000 in 2025
The Bitcoin price has surged 3% in the last 24 hours to trade at $103,676 as of 11:19 p.m. EST with a trading volume that has increased by 56% to $85.8 billion.
The price surge took Bitcoin to a new all-time high (ATH) of $106,352 before it pared gains. According to PlanB, the creator of the stock-to-flow model, the BTC price could average around $500,000 in 2025, potentially even reaching $1 million.
Technical Indicators Show Continued Uptrend
The BTC/USD chart shows a strong bullish trend that began after the consolidation phase in October-November 2024. This accumulation zone led to a breakout from the $60,500 support level.
Currently, Bitcoin is trading within a rising channel pattern, indicating a consistent upward trajectory. The price is above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the trend.
The Relative Strength Index (RSI) is at 65.16, reflecting bullish momentum but not yet overbought.
BTC Price Prediction
If Bitcoin breaks above the $105,000–$106,000 resistance zone, it could rally towards $110,000. If it falls below the channel support ($98,000) and the 50-day SMA ($89,297), it could trigger a correction towards the $85,000–$89,000 range.
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Investors are also interested in Wall Street Pepe (WEPE), a new Pepe alternative. WEPE has raised over $24.8 million in 12 days and aims to level the investment playing field for small investors by offering trading strategies and insider tips.
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