🔸Market Analysis: Bitcoin Surpasses $40,000 Per Coin🔸
December begins extremely optimistically for the cryptocurrency market, resembling:
→ December 2020, when bitcoin grew by 46.9%;
→ December 2017, when bitcoin grew by 38.9%;
→ December 2016, when bitcoin grew by 30.8%.
If there are psychological patterns in the increase in demand on the eve of the holidays, then perhaps they come into force, since on the morning of December 4, the price of Bitcoin exceeded the psychological barrier of 40k and reached 41,700 per coin — for the first time since April 2022.
Fundamentally, demand is based on expectations of the approval of several Bitcoin ETFs. The fear and greed index reached a value of 74, indicating growing greed. Another driver is expectations of Fed rate cuts, which leads to more affordable loans and, accordingly, increased demand for risky assets.
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