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Bitcoin is gaining traction as countries consider it for national reserves. Nations like the U.S., Brazil, Poland, and Russia are exploring its potential to diversify assets. In the U.S., Senator Cynthia Lummis has proposed a bold plan. It suggests buying 200,000 Bitcoins yearly for five years to strengthen the nation’s financial position.
Ready for $150,000 #Bitcoin in December according to @100trillionUSD who’s nailed the last 2 months almost to the $?
— BRITISH HODL ❤️🔥🐂❤️🔥 (@BritishHodl) December 1, 2024
I don’t care if this timeline is true, it’s truly bullish and I love being bullish, truly.
I’m never selling so price targets are meaningless fun guideposts. pic.twitter.com/u5gmKQ4iW3
Former President Donald Trump has backed this move, calling Bitcoin a strategic asset. The U.S. Treasury would manage the storage, ensuring secure handling of the cryptocurrency. This development reflects a shift in global financial strategies. Governments are recognizing Bitcoin’s value as a hedge against traditional systems. Such steps could boost confidence in Bitcoin’s long-term growth. As adoption increases, market sentiment for Bitcoin may turn even more bullish.
Key Bitcoin Levels To Watch – December 1
BTCUSD is exhibiting strong bullish momentum, trading above the 9-day SMA and consistently forming higher highs. The recent breakout above the $94700 support zone has been validated, indicating buyers’ dominance.
A short-term consolidation is expected near the psychological $100000 resistance, with the potential for a breakout higher. If rejected, a pullback to $94700 could offer new buying opportunities.
BTCUSD Key Levels
Resistance Levels: $100000, $110000, $115000
Support Levels: $90000, $73840, $53500
BTC/USD Metrics
Total Market Capitalisation: $3.41T
Bitcoin Market Capitalisation: $1.92T
Bitcoin Volume: $31.17B
Market Rank: #1
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