Is there a chance for Bitcoin to break through 100,000?

Since Bitcoin first broke through the psychological barrier of 100,000 USD on the 5th, it has remained below 100,000 USD since the 19th. The market is concerned about when Bitcoin will return to this significant level. Ryan Lee, the chief analyst of Bitget Research, believes that Bitcoin may exceed 105,000 USD after the Christmas holiday when liquidity rebounds.

Ryan Lee analyzed that the recent downward trend of Bitcoin is a typical phenomenon of insufficient holiday liquidity.

Vetle Lunde, the head of K33 Research, previously stated that based on previous bull market cycles, the average duration from the first historical high to the last historical high for Bitcoin in each bull market is 318 days. Moreover, if previous market capitalization is taken as a reference, Bitcoin may reach a maximum of 212,500 USD in this cycle.

Elon Musk's Doge appeared in a tweet by the old horse this Christmas, highly visible and well-loved. Even if the old horse doesn't push it, there is strong capital and community backing. This bull market has at least 1 billion as a foundation!

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