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« on: December 02, 2024, 10:25:39 AM »
Bitcoin is entering an exciting phase, with traders predicting "insane long opportunities" in the coming months. According to analyst Daan Crypto Trades, Bitcoin has begun its price discovery phase, having traded above its previous all-time high for almost a month. This phase is crucial in determining the asset's fair market price through buyer-seller interactions.
Historically, Bitcoin's price discovery phase has led to significant gains. In 2017, the asset surged 1,600%, while in 2021, it rose 245%. If Bitcoin replicates even half of its 2021 performance, its price could reach around $150,000.
Other experts, like Charles Edwards, founder of Capriole Fund, predict that the next few months will bring "insane long opportunities" for Bitcoin ¹. December has historically been a bullish month for the asset, with average gains of 10%.