Bitcoin maintains $ 48,000 in the last Wall Street session and BTC gains 60% so far this year

Bitcoin (BTC) has lost its last profit on December 31 in the last 2021 trading session on Wall Street.

Candlestick chart of 1 for the BTC / USD pair (Bitstamp). Source: TradingView

Bitcoin gains 60% so far this year

Data of Cointelegraph Markets Pro Y TradingView They tracked the BTC / USD pair as it moved around the $ 48,000 mark, having hit multi-day highs of $ 48,550 hours earlier.

The rally coincided with the December expiration of Bitcoin options, which is by far the biggest date on the options calendar, at nearly $ 6 billion. Striking purchases were recorded on the American professional exchange Coinbase Pro in the run-up to the event.

With stocks soaring in Asia, all eyes were on the possibility of one last flourish in a context of concern about inflation in 2022.

The S&P 500 hit its 70th all-time high for the year on December 30, at 4,806 points, but next year could be very different for equities thanks to the Federal Reserve. For Jim Paulsen, chief investment strategist at the Leuthold Group, the future is bright, at least for the first half of 2022.

“A lot of people think we could give some of this back as we enter the new year,” He said a Bloomberg.

“That could happen, but I think maybe we will exceed 5,000 during the first half of the year because of the excitement that we may finally be turning COVID from a pandemic to an epidemic and because of the realization that inflation is moderating.”

The BTC / USD pair looked like it was going to end the year at around $ 19,000 above its starting position. Walking away, Scott Melker, the popular trader and podcast host known as The Wolf of All Streets, argued that the long-term BTC / USD pair spoke for itself.

“Want to widen and feel bullish? Take a look at BTC’s yearly chart. Just up”, He said as part of the comments on Twitter on December 31st.

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BTC / USD (Bitstamp) 1-month candlestick chart. Source: TradingView

At least $ 100,000 by December 2022

For its part, PlanB, the quant analyst known for its long-standing but increasingly controversial Bitcoin pricing models, is also celebrating.

On reflection, he pointed that Bitcoin was up 60% in dollar terms in 2021, while stocks were up 27% and gold lagged -4%.

Despite not being anywhere near where I expected, the BTC / USD pair remains true to the allowable deviation of the stock-to-flow, and is therefore in line to reach its predicted average price of $ 100,000 in 2024.

A poll conducted earlier this week, which got almost 180,000 responses, revealed that Most respondents believe that within a year, Bitcoin will trade between $ 100,000 and $ 200,000.

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Bitcoin survey on Twiiter. Source: Twitter

Keep reading:

  • The price of Bitcoin has risen between 7% and 36% in the first week of January of every year since 2018
  • Dec 31 Price Analysis: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE
  • 10,000 BTC leaves Coinbase in a single day
  • Bloomberg Strategist Claims Bitcoin Is More Likely To Return To $ 60,000 Than $ 20,000
  • Will the price of Bitcoin keep dropping?
  • Ether will always be second to Bitcoin, says Shark Tank’s Kevin O’Leary
  • Estonia’s new anti-money laundering laws are poised to clamp down on the cryptocurrency sector

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Bitcoin maintains $ 48,000 in the last Wall Street session and BTC gains 60% so far this year

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