Bitcoin is currently holding the ground above $57K, and it is nothing less than a marvel that the cryptocurrency has not dipped any below. Forty-eight hours ago, Bitcoin was trading above $69K, pressing its own all-time high, but since then, a lot has changed, and at the time of writing, almost the whole crypto market is in the red, and Bitcoin is no different. The successive bullish runs accompanying Bitcoin have provided the cryptocurrency with the opportunity of flying high in terms of price and value. The reason for these successive bullish runs is the approval of Bitcoin ETF futures by the Securities and Exchange Commission.
This was something that was believed to be impossible but then became a reality as SEC came around at the very last minute. So it can be said that Bitcoin has had multiple bullish runs in the recent past, and a strong wave of corrections is bound to interfere sooner than later. The latest predictions put out by the crypto community at CoinMarketCap means that Bitcoin will be trading at $53K by the end of December. CoinMarketCap is a crypto data statistics platform that presents people with live data direct from the crypto market so multiple predictions can be drawn up, and there are multiple tools available for estimating the upcoming price of a dedicated cryptocurrency.
Crypto Prediction Tool
A new tool by the name of price estimates is made available by CoinMarketCap as it allows users to make predictions regarding the price of Bitcoin for six consecutive months. A median price of $53K was drawn after multiple votes were cast by more than 80,000 individuals. This yet again is the word of crypto analysts and common people gathered for this opportunity against the corrections and multiple factors which in reality affect the performance and price of Bitcoin.
It shouldn’t be taken as a sound reflection of a professional’s prediction as it is clearly not. So, it should be taken as an experiment or, more appropriately, an addition in terms of thoughts and predictions from the common people regarding the future of Bitcoin.