What Can Help Bitcoin To Break $95,000 On Path To $100,000

So why is this happening? There are some factors that I would look out for. Basically it is the transaction over 7-day MA (Moving Average), active addresses and new addresses on the Bitcoin network.

If we looked at how Bitcoin price have been moving, we can see that transactions was above 700k when we saw Bitcoin price went to a new highs in September, October and also November.

But we are seeing the transactions moving near 500k, so if we saw transactions start to move towards and above 700k, then we could be seeing $95,000 in sight.

We are seeing signs of new address picking up on the Bitcoin network, but the amount is still not enough to garner enough interest and volume to push the Bitcoin price higher, so I am expecting new addresses to near 400k or cross it.

That will be time when we can see Bitcoin breaking towards $95,000.

Broader positive sentiment in the cryptocurrency market have many analysts foresee a bullish trend for Bitcoin in the last quarter of 2024.

I think Bitcoin has managed to overcome the bearish sentiments in the short term with a significant percentage of BTC supply in profit, it is near the previous high in March 2024.

Bitcoin’s price has been consolidating near the upper resistance line of this wedge pattern, suggesting a critical juncture.

I would see this consolidation phase as a possible breakout leading to a substantial upside rally, but we could experience a sideway movement around $90,000.

Bitcoin need another catalyst to power it beyond $95,000, as we have seen CPI up 0.2%, so will investors turn defensive or adopt a wait-and-see attitude before putting Bitcoin as one of the defensive assets.

I am holding to MARA because I believe there is much more potential for this miner.

These stocks should be able to give us considerable returns for the long term as Bitcoin continue to move higher.

Appreciate if you could share your thoughts in the comment section whether you think Bitcoin would be able to break the consolidation phase to try $95,000.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.