After a notable uptick over the $100,000 mark, Bitcoin (BTC) dipped down. The king coin surged all the way to an all-time high of $103,900.47. Currently, the cryptocurrency is seen trading nearly 5% below this peak. While its recent stumble came as a shock to the market, the community was hoping that this was a mere correction. However, the real question is whether the asset could bounce back and even rise to a high of $150,000 over the next few weeks.
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Bitcoin’s Current Price
At press time, Bitcoin was trading at $99,293.81, following a 0.23% decline over the past 24 hours. It should be noted that BTC dropped down to a low of $94,000 during the weekend. The last two days were very volatile for the king coin. After this dip, BTC rose to a high of $101,267.
Amidst this, the community has been coming up with several new predictions for the asset. According to many in the market, Bitcoin is expected to surge to a high of $124,000 or even $150,000. According to ARK Invest, a company that has invested in the king coin, a minimum year-end price of $124,000 is anticipated. They believe that adding Bitcoin to the U.S. strategic reserves would greatly increase its market value. In addition, they also noted that institutional interest in Bitcoin is expanding.
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Price Prediction
According to data from CoinCodex, the king coin is anticipated to trade between $99,765 and $114,836 by the end of the year. The asset’s average trading price is around $109,358 for December. This is a far cry from the expected $150,000 or even $124,000. This isn’t necessarily a bearish mark. This represents a spike of over 15% for Bitcoin from its current price level.
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