#BTCOutlook $BTC As at December 22, 2024, Bitcoin (BTC) is trading above $96,690, reflecting a slight decrease of about 1.8% from the previous close.
Could this be an upward trend or a fake out
Earlier this month, Bitcoin surpassed the $100,000 milestone, reaching an all-time high of over $107,000 on December 15. This surge was largely attributed to President-elect Donald Trump's commitment to establish a U.S. Bitcoin strategic reserve, signaling a potential shift toward more crypto-friendly policies.
In related developments, MicroStrategy, a prominent business intelligence firm and major Bitcoin holder, announced its inclusion in the Nasdaq 100 index. This inclusion is expected to increase institutional exposure to Bitcoin, as MicroStrategy holds approximately $44 billion worth of the cryptocurrency.
Analysts remain optimistic about Bitcoin's future performance, with some predicting that its price could reach $120,000 by early 2025. This optimism is fueled by expectations of favorable regulatory changes under the incoming Trump administration, which has expressed support for digital assets and proposed the creation of a strategic national Bitcoin reserve.
