In simpler terms, Bitcoin’s (BTC) value saw significant ups and downs in December when it couldn’t sustain levels above $100,000. However, as per ARK Invest, these price swings were not unusually high compared to its historical volatility.
In simpler terms, ARK Invest’s December report titled “The Bitcoin Monthly” analyzed the monthly and yearly instability of Bitcoin (BTC), which is a measure of how much an asset’s price changes over a certain timeframe. Despite the surge in volatility at the end of Q4, this increase was not unusually high when compared to past occurrences, according to the report.
In a supplementary graph, ARK demonstrates that Bitcoin’s volatility for the month of December was noticeably lower than its annual volatility.
A low level of volatility in Bitcoin suggests it hasn’t fully entered the hype or mania stage of its growth cycle yet. This implies there may still be significant upward movement to come, particularly during a bull market.
ARK’s report indicates that there may be opportunities for additional growth within the market by 2025 based on these findings.
The report pointed out numerous positive signals for Bitcoin in December, such as changes in mining complexity, actions of Bitcoin holders, and the short-term average purchase price by these holders.
Speaking about the pattern of long-term holders, ARK’s findings indicate that approximately two out of three Bitcoins have stayed put for over a year, despite the digital currency experiencing price increases exceeding 100% in the year 2024.
Anticipation builds ahead of Trump’s inauguration
In December, the value of Bitcoin surged past $100,000 following Donald Trump’s election, as he expressed intentions to introduce a fresh chapter in cryptocurrency within the United States.
In his bid for presidency, Trump pledged to establish America as a leading hub for Bitcoin and cryptocurrencies.
Prior to taking office, the newly elected president chose Paul Atkins, a supporter of cryptocurrency, to lead the important Securities and Exchange Commission. Shortly afterwards, he named David Sacks as his primary advisor on both cryptocurrency and artificial intelligence. The majority of the crypto community endorsed these decisions.
It’s anticipated by Pantera Capital that Donald Trump’s presidency will add credibility to Bitcoin and cryptocurrencies, potentially pushing their prices to unprecedented record levels over the next few months.
As reported by The Washington Post, it’s anticipated that President Trump will sign orders related to cryptocurrency upon taking office on January 20th. These initial orders aim to provide more clarity about the importance of cryptocurrencies within the new administration.
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2025-01-14 22:39