Bitcoin 
$77,710 experienced a significant 37.3% increase in value following Donald Trump’s victory in the U.S. presidential elections in November. This surge sparked renewed excitement in the cryptocurrency market. Historical data suggests that Bitcoin could gain an additional 46% in December, potentially reaching $141,000 by the end of the year.
Strong Post-Election Uptrend for Bitcoin
Data from the blockchain analysis platform Spot On Chain highlights Bitcoin’s price performance during election periods. Historically, Bitcoin’s price has increased between 30% and 46% in December. Currently trading at $96,600, Bitcoin is projected to test the $115,000 mark by the end of December.
The rapid decline of Bitcoin reserves on exchanges stands out as a primary factor supporting this increase. According to data provided by 10x Research, long-term investors are opting to hold onto their Bitcoin, tightening supply and applying upward pressure on prices. Analyst Ben Armstrong noted that Bitcoin could reach the $100,000 level within the next 48 hours, stating, “This is the moment we anticipated. Bitcoin will hit $100,000. Make the most of this opportunity.”
Supply Shock on Exchanges: Bitcoin Reserves Dwindle
Bitcoin analyst Willy Woo draws attention to the supply shock occurring on exchanges. He notes that while short-term investors are selling, new investors are creating demand. This situation is a significant factor that could drive up Bitcoin prices. “Look at the Bitcoin reserves on exchanges. We are experiencing a true supply shock,” he mentioned.
Furthermore, the entry of Bitcoin ETFs into the market has further boosted demand, contributing to a further reduction in Bitcoin supply. Analysts indicate that new investors entering the market during this period could support price increases.
As the year comes to a close, Bitcoin’s market continues to show volatility driven by rising demand and decreasing supply. This period is seen as an opportunity for long-term investors.
