Bitcoin holds $ 48,000 in the last Wall Street session and BTC is up 60% so far this year

Bitcoin (BTC) lost its last profits on December 31st in the last trading session of 2021 on Wall Street.

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

Bitcoin Gains 60% So Far This Year

Data from Cointelegraph Markets Pro and TradingView tracked the BTC / USD pair as it hovered around the $ 48,000 mark after hitting multi-day highs of $ 48,550 hours earlier.

The rally coincided with the Bitcoin options expiring in December, which at nearly $ 6 billion is by far the biggest date on the options calendar. Significant purchases were made on the US trade exchange Coinbase Pro in the run-up to the event.

Bitcoin holds $ 48,000 in the last Wall Street session and BTC is up 60% so far this year
Bitcoin holds $ 48,000 in the last Wall Street session and BTC is up 60% so far this year

With stocks soaring in Asia, all eyes were on the possibility of another boom amid inflation worries in 2022.

The SP 500 hit its 70th all-time high of the year at 4,806 on December 30, but next year it could look very different thanks to the Federal Reserve for stocks. For Jim Paulsen, chief investment strategist of the Leuthold Group, the future looks bright, at least for the first half of the year.

“A lot of people think we can give some of that back into the New Year,” he told Bloomberg.

“That could happen, but I think we might cross the 5,000 mark in the first half of the year because we’re so excited that we’re finally turning COVID from pandemic to epidemic and realizing that inflation is slowing.” . “.

The BTC / USD pair looked like it would end the year around $ 19,000 above its starting position. As he walked away, Scott Melker, the popular trader and podcast host known as the wolf of the streets, argued that the long-term BTC / USD pair spoke for itself.

“Do you want to expand and feel bullish? Look at BTC’s yearly chart. Just up.” He said as part of the comments on Twitter on December 31st.

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

At least $ 100,000 by December 2022

PlanB, the quantitative analyst known for its enduring but increasingly controversial bitcoin pricing models, is also lucky too.

As i think pointed out Bitcoin is up 60% in US dollars in 2021, while stocks are up 27% and gold is -4% behind.

While the BTC / USD pair is nowhere near where you expected it to be, it remains true to the allowable deviation from stock-to-flow and will therefore hit its expected median price of $ 100,000 in 2024.

A poll that was conducted earlier this week, the to get Nearly 180,000 responses showed that the majority of respondents believe Bitcoin will trade between $ 100,000 and $ 200,000 within a year.

Bitcoin survey on Twitter. Source: Twiiter

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