After approaching $99,690, BTC suffered a 4% retracement, but there was a recovery over the weekend. As a result, Bitcoin (BTC) price today trades at $98,146.0 on 12 PM. BTC price hit a daily high of $98,882.0 today after a 1.28% move on November 25.
Bitcoin Price Today Is Rallying After Weekend Crash, Why?
Bitcoin price today is up 1.28% and currently auctions around $98,146.0. Despite the recent drop, BTC has recovered and trades around $98,000, with investors eager to see it cross $100,000, a historic six-digit level. While some altcoins are shooting up, most are waiting for BTC to cool off.
*bitcoin price updated as of 12 PM.
Value of BTC trades at $98,146.0, bringing the year-to-date gain from 56% on October 20 to 131% as of November 25. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands at 45%, and is well below BTC.
Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009.
Bitcoin Price Eyes Bullish End to 2024
Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end November 2024 on a positive note. Many even expect a six-digit target for BTC by the end of November, and this is due to the historical returns. History shows that Bitcoin has always performed massively in the fourth quarter.
With that said, if Bitcoin price hits a new ATH in November or December, Bitcoin’s market capitalization, which stands at $1,940.2 billion, could finally hit the $2 trillion mark.
Bitcoin: The Largest Cryptocurrency
While Bitcoin’s market cap hovers around $1,940.2 billion, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization. Despite the seven-month consolidation, Bitcoin’s $1.93 trillion market cap remains strong, anticipating it reaching $2 trillion before 2025.
BTC’s 24-hour Trading Volume
Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at $58.7 billion. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance.
Bitcoin Blockchain Upgrades
With a market cap of $1.93 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly.
Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.
Bitcoin Network Upgrades Since 2009
Here are some key milestone upgrades to the Bitcoin network over the past decade.
2020-2024:
- Taproot Upgrade (2021): Improved Bitcoin’s smart contract functionality, allowing for more complex transactions and enhanced privacy.Muir Glacier Upgrade (2020): Delayed the “ice age” that would have slowed down the network, ensuring the continued smooth operation of Bitcoin.
2017-2019:
- Segregated Witness (SegWit) Upgrade (2017): Increased the block size limit, allowing for more transactions to be processed on the network, and improved the overall scalability of Bitcoin.
- Schnorr/Tapscript Upgrade (proposed): Aims to further improve the efficiency and scalability of Bitcoin transactions, but has not yet been activated.
- SegWit2x (canceled): A proposed upgrade that aimed to increase the block size limit, but was ultimately canceled due to lack of consensus.
2015-2016:
- Bitcoin Core 0.12.0 Upgrade (2016): Introduced several improvements, including better wallet management and enhanced security features.
- BIP66 Upgrade (2015): Standardized the way Bitcoin transactions are verified, improving the overall security and reliability of the network.
2013-2014:
- Bitcoin Core 0.9.0 Upgrade (2014): Introduced a new wallet format and improved the overall performance of the Bitcoin client.
- BIP0016 Upgrade (2013): Enabled the use of payment protocol, allowing for more efficient and secure transactions.
2010-2012:
- Pay-to-Script-Hash (P2SH) Upgrade (2012): Introduced a new type of transaction that allows for more complex payment scenarios, improving the overall flexibility of the Bitcoin network.
- Bitcoin Core 0.6.0 Upgrade (2011): Introduced several improvements, including better wallet management and enhanced security features.
2009-2010:
- Bitcoin Core 0.3.0 Upgrade (2009): One of the earliest upgrades to the Bitcoin network, introducing several key features and improvements.
Bitcoin Price Forecast For Next 30 Days
| Date | Price | Change |
|---|---|---|
| November 25, 2024 | 98611.18 | 1.98% |
| November 26, 2024 | 103203.32 | 6.73% |
| November 27, 2024 | 105674.76 | 9.29% |
| November 28, 2024 | 106669.62 | 10.32% |
| November 29, 2024 | 106734.99 | 10.39% |
| November 30, 2024 | 106309.19 | 9.95% |
| December 01, 2024 | 106159.91 | 9.79% |
| December 02, 2024 | 106416.81 | 10.06% |
| December 03, 2024 | 106711.29 | 10.36% |
| December 04, 2024 | 106853.41 | 10.51% |
| December 05, 2024 | 107375.32 | 11.05% |
| December 06, 2024 | 108051.19 | 11.75% |
| December 07, 2024 | 107927.32 | 11.62% |
| December 08, 2024 | 108065.01 | 11.76% |
| December 09, 2024 | 109566.14 | 13.31% |
| December 10, 2024 | 110100.14 | 13.87% |
| December 11, 2024 | 109596.91 | 13.35% |
| December 12, 2024 | 108919.20 | 12.65% |
| December 13, 2024 | 108493.16 | 12.2% |
| December 14, 2024 | 108531.60 | 12.24% |
| December 15, 2024 | 106625.24 | 10.27% |
| December 16, 2024 | 106193.08 | 9.83% |
| December 17, 2024 | 107031.31 | 10.69% |
| December 18, 2024 | 108771.64 | 12.49% |
| December 19, 2024 | 110780.75 | 14.57% |
| December 20, 2024 | 112692.53 | 16.55% |
| December 21, 2024 | 113330.85 | 17.21% |
| December 22, 2024 | 113352.50 | 17.23% |
| December 23, 2024 | 113376.78 | 17.26% |
| December 24, 2024 | 113847.52 | 17.74% |
Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $110,724 in the coming month. While there may be a brief correction, BTC’s trend remains bullish. Bitcoin Price Forecast Between 2025 and 2029
Bitcoin Price Prediction From 2025 to 2029
| January | $101,998.70 | $112,679.35 | $107,339.03 | 72.6% |
| February | $101,917.37 | $111,511.18 | $106,714.27 | 71.6% |
| March | $101,836.03 | $110,343.01 | $106,089.52 | 70.6% |
| April | $101,754.69 | $109,174.84 | $105,464.77 | 69.6% |
| May | $101,673.35 | $108,006.67 | $104,840.01 | 68.6% |
| June | $101,592.02 | $106,838.50 | $104,215.26 | 67.6% |
| July | $101,510.68 | $105,670.33 | $103,590.51 | 66.6% |
| August | $101,429.34 | $104,502.16 | $102,965.75 | 65.6% |
| September | $101,348 | $103,333.99 | $102,341 | 64.6% |
| October | $101,266.67 | $102,165.82 | $101,716.25 | 63.6% |
| November | $101,185.33 | $100,997.65 | $101,091.49 | 62.6% |
| December | $101,103.99 | $99,829.48 | $100,466.74 | 61.6% |
| All Time | $101,551.35 | $106,254.42 | $103,902.88 | 67.1% |
| January | $103,841.74 | $103,075.36 | $105,716.51 | 70% |
| February | $106,579.49 | $106,321.23 | $110,966.28 | 78.5% |
| March | $109,317.24 | $109,567.11 | $116,216.06 | 86.9% |
| April | $112,054.99 | $112,812.99 | $121,465.83 | 95.4% |
| May | $114,792.74 | $116,058.86 | $126,715.60 | 103.8% |
| June | $117,530.50 | $119,304.74 | $131,965.37 | 112.3% |
| July | $120,268.25 | $122,550.62 | $137,215.14 | 120.7% |
| August | $123,006 | $125,796.49 | $142,464.91 | 129.1% |
| September | $125,743.75 | $129,042.37 | $147,714.69 | 137.6% |
| October | $128,481.50 | $132,288.25 | $152,964.46 | 146% |
| November | $131,219.25 | $135,534.12 | $158,214.23 | 154.5% |
| December | $133,957 | $138,780 | $163,464 | 162.9% |
| All Time | $118,899.37 | $120,927.68 | $134,590.26 | 116.5% |
| January | $139,801.17 | $144,684.75 | $169,276.92 | 172.3% |
| February | $145,645.33 | $150,589.50 | $175,089.83 | 181.6% |
| March | $151,489.50 | $156,494.25 | $180,902.75 | 191% |
| April | $157,333.67 | $162,399 | $186,715.67 | 200.3% |
| May | $163,177.83 | $168,303.75 | $192,528.58 | 209.7% |
| June | $169,022 | $174,208.50 | $198,341.50 | 219% |
| July | $174,866.17 | $180,113.25 | $204,154.42 | 228.4% |
| August | $180,710.33 | $186,018 | $209,967.33 | 237.7% |
| September | $186,554.50 | $191,922.75 | $215,780.25 | 247.1% |
| October | $192,398.67 | $197,827.50 | $221,593.17 | 256.4% |
| November | $198,242.83 | $203,732.25 | $227,406.08 | 265.8% |
| December | $204,087 | $209,637 | $233,219 | 275.1% |
| All Time | $171,944.08 | $177,160.88 | $201,247.96 | 223.7% |
| January | $212,511.67 | $218,298 | $243,655 | 291.9% |
| February | $220,936.33 | $226,959 | $254,091 | 308.7% |
| March | $229,361 | $235,620 | $264,527 | 325.5% |
| April | $237,785.67 | $244,281 | $274,963 | 342.3% |
| May | $246,210.33 | $252,942 | $285,399 | 359% |
| June | $254,635 | $261,603 | $295,835 | 375.8% |
| July | $263,059.67 | $270,264 | $306,271 | 392.6% |
| August | $271,484.33 | $278,925 | $316,707 | 409.4% |
| September | $279,909 | $287,586 | $327,143 | 426.2% |
| October | $288,333.67 | $296,247 | $337,579 | 443% |
| November | $296,758.33 | $304,908 | $348,015 | 459.8% |
| December | $305,183 | $313,569 | $358,451 | 476.5% |
| All Time | $258,847.33 | $265,933.50 | $301,053 | 384.2% |
| January | $317,150.58 | $326,144.33 | $372,391.92 | 499% |
| February | $329,118.17 | $338,719.67 | $386,332.83 | 521.4% |
| March | $341,085.75 | $351,295 | $400,273.75 | 543.8% |
| April | $353,053.33 | $363,870.33 | $414,214.67 | 566.2% |
| May | $365,020.92 | $376,445.67 | $428,155.58 | 588.7% |
| June | $376,988.50 | $389,021 | $442,096.50 | 611.1% |
| July | $388,956.08 | $401,596.33 | $456,037.42 | 633.5% |
| August | $400,923.67 | $414,171.67 | $469,978.33 | 655.9% |
| September | $412,891.25 | $426,747 | $483,919.25 | 678.4% |
| October | $424,858.83 | $439,322.33 | $497,860.17 | 700.8% |
| November | $436,826.42 | $451,897.67 | $511,801.08 | 723.2% |
| December | $448,794 | $464,473 | $525,742 | 745.6% |
| All Time | $382,972.29 | $395,308.67 | $449,066.96 | 622.3% |
In the next year, aka 2025, Bitcoin price is likely to stay well above the six-digit territory and shows no signs of correction below it. Coingape’s Bitcoin price prediction data reveals a peak of $104,280.26 in February 2025.
How Will Bitcoin Price Fare between 2030 and 2050
2030
2031
2032
2033
2040
2050
| January | $465,154.42 | $481,462.17 | $546,469.67 | 779% |
| February | $481,514.83 | $498,451.33 | $567,197.33 | 812.3% |
| March | $497,875.25 | $515,440.50 | $587,925 | 845.6% |
| April | $514,235.67 | $532,429.67 | $608,652.67 | 879% |
| May | $530,596.08 | $549,418.83 | $629,380.33 | 912.3% |
| June | $546,956.50 | $566,408 | $650,108 | 945.7% |
| July | $563,316.92 | $583,397.17 | $670,835.67 | 979% |
| August | $579,677.33 | $600,386.33 | $691,563.33 | 1012.3% |
| September | $596,037.75 | $617,375.50 | $712,291 | 1045.7% |
| October | $612,398.17 | $634,364.67 | $733,018.67 | 1079% |
| November | $628,758.58 | $651,353.83 | $753,746.33 | 1112.4% |
| December | $645,119 | $668,343 | $774,474 | 1145.7% |
| All Time | $555,136.71 | $574,902.58 | $660,471.83 | 962.3% |
| January | $667,167.08 | $691,240.58 | $802,526.58 | 1190.8% |
| February | $689,215.17 | $714,138.17 | $830,579.17 | 1235.9% |
| March | $711,263.25 | $737,035.75 | $858,631.75 | 1281.1% |
| April | $733,311.33 | $759,933.33 | $886,684.33 | 1326.2% |
| May | $755,359.42 | $782,830.92 | $914,736.92 | 1371.3% |
| June | $777,407.50 | $805,728.50 | $942,789.50 | 1416.4% |
| July | $799,455.58 | $828,626.08 | $970,842.08 | 1461.5% |
| August | $821,503.67 | $851,523.67 | $998,894.67 | 1506.7% |
| September | $843,551.75 | $874,421.25 | $1,026,947.25 | 1551.8% |
| October | $865,599.83 | $897,318.83 | $1,054,999.83 | 1596.9% |
| November | $887,647.92 | $920,216.42 | $1,083,052.42 | 1642% |
| December | $909,696 | $943,114 | $1,111,105 | 1687.1% |
| All Time | $788,431.54 | $817,177.29 | $956,815.79 | 1439% |
| January | $946,061.92 | $979,838.83 | $1,150,786.08 | 1751% |
| February | $982,427.83 | $1,016,563.67 | $1,190,467.17 | 1814.8% |
| March | $1,018,793.75 | $1,053,288.50 | $1,230,148.25 | 1878.6% |
| April | $1,055,159.67 | $1,090,013.33 | $1,269,829.33 | 1942.4% |
| May | $1,091,525.58 | $1,126,738.17 | $1,309,510.42 | 2006.3% |
| June | $1,127,891.50 | $1,163,463 | $1,349,191.50 | 2070.1% |
| July | $1,164,257.42 | $1,200,187.83 | $1,388,872.58 | 2133.9% |
| August | $1,200,623.33 | $1,236,912.67 | $1,428,553.67 | 2197.7% |
| September | $1,236,989.25 | $1,273,637.50 | $1,468,234.75 | 2261.6% |
| October | $1,273,355.17 | $1,310,362.33 | $1,507,915.83 | 2325.4% |
| November | $1,309,721.08 | $1,347,087.17 | $1,547,596.92 | 2389.2% |
| December | $1,346,087 | $1,383,812 | $1,587,278 | 2453% |
| All Time | $1,146,074.46 | $1,181,825.42 | $1,369,032.04 | 2102% |
| January | $1,387,378.67 | $1,426,572.58 | $1,647,465.92 | 2549.9% |
| February | $1,428,670.33 | $1,469,333.17 | $1,707,653.83 | 2646.7% |
| March | $1,469,962 | $1,512,093.75 | $1,767,841.75 | 2743.5% |
| April | $1,511,253.67 | $1,554,854.33 | $1,828,029.67 | 2840.3% |
| May | $1,552,545.33 | $1,597,614.92 | $1,888,217.58 | 2937.1% |
| June | $1,593,837 | $1,640,375.50 | $1,948,405.50 | 3033.9% |
| July | $1,635,128.67 | $1,683,136.08 | $2,008,593.42 | 3130.7% |
| August | $1,676,420.33 | $1,725,896.67 | $2,068,781.33 | 3227.5% |
| September | $1,717,712 | $1,768,657.25 | $2,128,969.25 | 3324.3% |
| October | $1,759,003.67 | $1,811,417.83 | $2,189,157.17 | 3421.1% |
| November | $1,800,295.33 | $1,854,178.42 | $2,249,345.08 | 3517.9% |
| December | $1,841,587 | $1,896,939 | $2,309,533 | 3614.7% |
| All Time | $1,614,482.83 | $1,661,755.79 | $1,978,499.46 | 3082.3% |
| January | $1,912,592.58 | $1,975,978.17 | $2,362,093.25 | 3699.3% |
| February | $1,983,598.17 | $2,055,017.33 | $2,414,653.50 | 3783.8% |
| March | $2,054,603.75 | $2,134,056.50 | $2,467,213.75 | 3868.4% |
| April | $2,125,609.33 | $2,213,095.67 | $2,519,774 | 3952.9% |
| May | $2,196,614.92 | $2,292,134.83 | $2,572,334.25 | 4037.4% |
| June | $2,267,620.50 | $2,371,174 | $2,624,894.50 | 4122% |
| July | $2,338,626.08 | $2,450,213.17 | $2,677,454.75 | 4206.5% |
| August | $2,409,631.67 | $2,529,252.33 | $2,730,015 | 4291.1% |
| September | $2,480,637.25 | $2,608,291.50 | $2,782,575.25 | 4375.6% |
| October | $2,551,642.83 | $2,687,330.67 | $2,835,135.50 | 4460.1% |
| November | $2,622,648.42 | $2,766,369.83 | $2,887,695.75 | 4544.7% |
| December | $2,693,654 | $2,845,409 | $2,940,256 | 4629.2% |
| All Time | $2,303,123.29 | $2,410,693.58 | $2,651,174.63 | 4164.3% |
| January | $2,753,723.75 | $2,916,544.25 | $3,019,295.17 | 4756.4% |
| February | $2,813,793.50 | $2,987,679.50 | $3,098,334.33 | 4883.5% |
| March | $2,873,863.25 | $3,058,814.75 | $3,177,373.50 | 5010.6% |
| April | $2,933,933 | $3,129,950 | $3,256,412.67 | 5137.7% |
| May | $2,994,002.75 | $3,201,085.25 | $3,335,451.83 | 5264.9% |
| June | $3,054,072.50 | $3,272,220.50 | $3,414,491 | 5392% |
| July | $3,114,142.25 | $3,343,355.75 | $3,493,530.17 | 5519.1% |
| August | $3,174,212 | $3,414,491 | $3,572,569.33 | 5646.3% |
| September | $3,234,281.75 | $3,485,626.25 | $3,651,608.50 | 5773.4% |
| October | $3,294,351.50 | $3,556,761.50 | $3,730,647.67 | 5900.5% |
| November | $3,354,421.25 | $3,627,896.75 | $3,809,686.83 | 6027.7% |
| December | $3,414,491 | $3,699,032 | $3,888,726 | 6154.8% |
| All Time | $3,084,107.38 | $3,307,788.13 | $3,454,010.58 | 5455.6% |
Roughly five years from now, aka 2023, Bitcoin’s price will see an explosion to the upside, with an all-time high of $774,474 in the aforementioned year. In the same period, BTC could reach a low of $465,154.42. Based on CoinGape predictions, the average price of BTC in 2050 is between $2.9 million and $3.3 million.
Investors should note that these long-term predictions can change and, hence, should be taken with a grain of salt.
Why BTC Crashed 4% Before $100K?
Many investors are expecting fireworks as Bitcoin price inches closer to $100,000. This historic level will likely trigger a frenzy of capital inflow from retail investors looking to make it big. This behavior is termed FOMO or Fear Of Missing Out and often leads to massive speculation and exponential rallies in altcoins.
With so much anticipation and money on the line, a drop in BTC has caused widespread liquidations. Based on the below image, roughly $490 million worth of crypto assets faced liquidation on November 24. Over the weekend, this number stands at $975 million.
Interestingly, this outlook comes after the host of the popular Mad Money show, Jim Cramer, told investors to buy and called BTC a winner.
Bitcoin Technical Analysis: What’s Next For BTC?
Bitcoin price is close to retesting the 261.8% Fibonacci extension level of $102,164, as discussed in a previous CoinGape BTC article. The recent drop created a higher low relative to the November 21 swing low of $95,666. While this could be due to the bullish momentum, investors must be cautious of another correction.
An ideal buy zone would be the one-hour demand zone, extending from $84,032 to $95,000. A bounce here would retest the trend line connecting the string of higher lows formed since November 12 and could entice sidelined buyers to purchase BTC at a discount. A spike in buying pressure could send Bitcoin price to the next key target of $102,164 or 261.8% Fibonacci extension level.
On the other hand, BTC could continue pumping from the current level and hit the 261.8% Fibonacci extension level. This is possible due to the nature of the market outlook, which is largely bullish.
A contrary outlook could see Bitcoin price breach the uptrend line connecting swing lows formed since November 12. This move would invalidate the bullish thesis and could signal that a steeper correction is brewing. Such a development could see BTC reenter the $93,437 to $86,113 range.
Source: https://coingape.com/bitcoin-btc-price-today-25-november-2024/