Cryptocurrency

Bitcoin

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 <p class="paragraph">After considerable <a rel="noopener noreferrer nofollow" title="gains" href="https://thebittimes.com/tag/gains.html">gains</a>, amid which Bitcoin (BTC) reached a high of $44,000, a recent trend might show that further investor and institutional support might be needed for BTC’s price to <a rel="noopener noreferrer nofollow" title="continue" href="https://thebittimes.com/tag/continue.html">continue</a> upward.</p>
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 <p class="paragraph">The Bitcoin network has experienced a noticeable decline in growth in the last month, raising concerns about the viability of flagship crypto‘s recent surge to $44,000.</p>
 <p class="paragraph">To ensure a resilient extension of the bullish trend, it is important to observe an increase in creating new BTC addresses. This uptick is essential for supporting a <a rel="noopener noreferrer nofollow" title="continue" href="https://thebittimes.com/tag/continue.html">continue</a>d bullish momentum, per a post on X from crypto analyst Ali Martinez on December 18.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://cdn.thebittimes.com/images/2023/12/18/af1a4e06c5674df1175d84cd993d61e5.webp" alt="Number of new Bitcoin addresses in the previous 3 months.  Source: Ali Martinez
" class="wp-image-143568" srcset="https://cdn.thebittimes.com/images/2023/12/18/af1a4e06c5674df1175d84cd993d61e5.webp 1024w, https://cdn.thebittimes.com/images/2023/12/18/af1a4e06c5674df1175d84cd993d61e5.webp 300w, https://cdn.thebittimes.com/images/2023/12/18/af1a4e06c5674df1175d84cd993d61e5.webp 768w, https://cdn.thebittimes.com/images/2023/12/18/af1a4e06c5674df1175d84cd993d61e5.webp 1536w, https://cdn.thebittimes.com/images/2023/12/18/af1a4e06c5674df1175d84cd993d61e5.webp 1800w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Number of new Bitcoin addresses in the previous 3 months. Source: Ali Martinez
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 <p class="paragraph">The disparity between the addition of new addresses and the recent price surge of this digital asset indicates that further corrections might be a likely scenario in the near future. This trend could be reversed after the announcement of a potential BTC spot ETF, which could conceivably open the floodgates of institutional investment.</p>
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 <p class="paragraph">From an analytical standpoint, there remains a reasonable expectation that the lows in Bitcoin will be revisited before a gradual ascent occurs. The prospect of profit-taking towards the year’s conclusion suggests a likelihood of entering an up-only mode, commencing later this week or early in the following week, as per a post from crypto analyst Michael van de Poppe on December 18.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">At the time of press, Bitcoin was trading at $41,168, representing a decrease of&nbsp; -1.49% in the past 24 hours, adding to the losses of -2.28% incurred over the last week. Contrary to this, the previous 30 days have brought an increase of 13.01%.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/18/531fdbf1d5898a074a587acd35dc334c.webp" alt="BTC 7-day price chart. Source: Finbold
" class="wp-image-143569" srcset="https://cdn.thebittimes.com/images/2023/12/18/531fdbf1d5898a074a587acd35dc334c.webp 1024w, https://cdn.thebittimes.com/images/2023/12/18/531fdbf1d5898a074a587acd35dc334c.webp 300w, https://cdn.thebittimes.com/images/2023/12/18/531fdbf1d5898a074a587acd35dc334c.webp 768w, https://cdn.thebittimes.com/images/2023/12/18/531fdbf1d5898a074a587acd35dc334c.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   BTC 7-day price chart. Source: Finbold
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 <p class="paragraph">Over the past year, the cryptocurrency‘s price has surged by an impressive 146%, showcasing remarkable growth within this timeframe.</p>
 <p class="paragraph">&nbsp;Its performance has positioned it among the top performers, surpassing 73% of the top 100 crypto assets over the same year.</p>
 <p class="paragraph">Technical indicators further support the positive trend, as the cryptocurrency trades above its 200-day simple moving average, suggesting a sustained upward momentum in its price movement.</p>
 <p class="paragraph">&nbsp;Examining the recent trend, it’s worth highlighting that there have been 17 green days in the last 30 days. This consistent positive performance signals a bullish sentiment and investor confidence in the asset.</p>
 <p class="paragraph"><strong><em>Disclaimer: </em></strong><em>The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk</em>.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/here-s-what-bitcoin-needs-to-continue-gains-into-2024-tbt74002.html">https://thebittimes.com/here-s-what-bitcoin-needs-to-continue-gains-into-2024-tbt74002.html</a></p>

Here’s what Bitcoin needs to continue gains into 2024

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