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Bitcoin experienced a significant 37.3% rise in November, driven by Donald Trump’s U.S. Presidential election victory, and experts predict the rally will continue in December. With Bitcoin currently trading around $96,922, analysts forecast a potential 30-46% surge, pushing prices up to $141,000 by the end of the year.
Blockchain analytics firm Spot On Chain highlights that historical data shows Bitcoin often surges by 30-46% post-elections. If this pattern holds, a jump to $115,000 is expected, with a possible high of $141,000. Popular analyst Ben Armstrong (BitBoy) predicts BTC will surpass the $100,000 mark within the next 48 hours.
Additionally, Bitcoin reserves on exchanges are rapidly depleting, with significant inflows into Bitcoin ETFs and long-term holders retaining their assets. This supply shock is driving up demand, creating a favorable environment for Bitcoin’s continued growth into December.
