Interesting Data in Bitcoin, Which Has Lived Its Strongest 4th Month: $100,000 Could Come Today! - Coin Bulletin

With a 36% increase in November, Bitcoin approaches the psychological level of $100,000, and analysts predict that the current bull market is reminiscent of the fourth quarter of 2020 and that the upward trend may continue.

Bitcoin, which recorded a 36% increase in November, is showing one of the strongest performances of the year and is only 4% away from the $100,000 threshold.

According to CoinGlass data, Bitcoin's 36% increase in November was the strongest quarterly performance since October 2021. This increase is compared to a 44% increase in February 2024, a 40% increase in January 2023, and again a 40% increase in October 2021. Analysts attribute this remarkable increase in November to Donald Trump's victory in the US presidential election, and note that surpassing the $100,000 threshold is only a matter of time.

Bitcoin's current market structure is similar to the bull market seen in the last quarter of 2020. During that period, Bitcoin climbed from $10,000 to $60,000, showing strong increases in October and November. Glassnode data suggests that periods when Bitcoin's short-term holders are trading above the realized price (STHRP) are often the beginning of bull markets. It is predicted that this support level could play a critical role in Bitcoin reaching $100,000.

Historical data of $100,000 in Bitcoin attracts attention

Analyst Caleb Franzen, stating that Bitcoin's momentum has not yet overheated, expressed that price increases could continue in the coming months. Franzen added that a decreasing RSI trend was observed in each past bull market, and the current momentum still leaves room for further growth.

Bitcoin's historical performance is also noteworthy. Bitcoin, which reached $1,000 on November 27, 2013, saw $10,000 four years later on November 28, 2017. Now, exactly seven years and one day later, the prospect of reaching $100,000 is creating excitement among market participants.

During a period when Bitcoin traded around $96,000, the expiration of the $9 billion large term in the options market contributed to a short-term rise.

Bitcoin continues to attract the attention of investors with its historical achievements and market structure as December approaches, and how this momentum will shape up is a matter of great curiosity.