Bitcoin and Altcoin Price Predictions in December, Get Ready!

Bittime - December 2024 has arrived, and the crypto market is ready to welcome it with various interesting dynamics. So, this article will discuss Bitcoin and altcoin price predictions this month. Check out the review, okay?

After a tumultuous year with prices tending to fall and stagnate, the crypto market momentum is now starting to show signs of revival. Bitcoin (BTC) is almost breaking through the $100,000 mark (around Rp. 1.59 billion). 

Meanwhile, Ethereum has recorded another significant increase, while other altcoins are starting to skyrocket. These crypto price movements make the last month of the year full of interesting predictions. 

Will this rally continue, or will we see a major correction in the market? Let's look at the Bitcoin and altcoin price predictions for December 2024.

Bitcoin Price Prediction for December 2024

Source: CCN

Bitcoin has long been in the spotlight of investors. December 2024 is expected to be a very crucial month for this largest cryptocurrency. 

After breaking nearly $99,200 (Rp. 1.577 billion) in recent weeks, many believe Bitcoin will surpass the $100,000 mark (around Rp. 1.59 billion) in the near future. 

This is driven by several factors. This includes increasing institutional demand, the endorsement of Bitcoin ETFs, as well as increasingly widespread adoption from large companies such as Tesla.

Macroeconomic factors are also providing a strong boost, with high inflation and devaluation of fiat currencies making Bitcoin increasingly attractive as 'digital gold.' In addition, the decline in Bitcoin supply after the 2024 halving also accelerated the price increase. 

According to technical analysis, Bitcoin has the potential to break through the $131,000 level (around IDR 2,082 billion) towards the end of this bullish cycle. Despite signs of overbought on the daily chart, strong upward momentum is expected to continue taking Bitcoin to higher levels.

Read also: Bitcoin Price Predictions and 9 Best Altcoins for 2024

Ethereum and Altcoin Price Predictions

Source: CCN

Browser Bitcoin, Ethereum is also showing strong bullish signs. After experiencing several months of correction and consolidation, ETH is now showing an increase of around 50% since its lowest point on November 4, 2024. 

Ethereum is increasingly attracting investor attention thanks to its rapid adoption in the DeFi (Decentralized Finance) and NFT (Non-Fungible Token) sectors. This blockchain is increasingly attractive with the use of Layer-2 networks such as Arbitrum and Optimism which reduce transaction costs and congestion on the Ethereum network.

Currently, Ethereum is in strong momentum, and is expected to set a new yearly high of $4,300 (around IDR 68.3 million) in December, with the possibility of continuing its bullish trend towards an all-time high in 2025. 

However, even though Ethereum shows enormous potential, several other altcoins are also starting to steal the spotlight. Altcoins such as XRP, Solana (SOL), and Cardano (ADA) saw significant price increases, creating hopes of a long-awaited 'altcoin season'.

Read also: Ripple (XRP): 3 Factors That Make XRP Prices Rise

Is Altcoin Season Coming Soon?

Source: CCN

There are many indications that December could be a turning point for altcoins. History shows that when Bitcoin's dominance begins to decline, capital tends to flow to altcoins. 

Recently, Bitcoin's dominance has indeed decreased significantly, from 61.46% to 57.84%, which indicates a potential shift in capital to altcoins. 

This was reinforced by a 35% surge in altcoin market capitalization in November, which almost touched an all-time high of $1.4 trillion (Rp. 22,260 trillion).

Other positive factors such as regulatory developments that support pro-crypto, as well as victories in several major elections, have further strengthened positive sentiment towards altcoins. 

Based on the Altcoin Season index, which is currently at 63, the market is showing signs of favoring altcoins. If this number goes above 75, then we will likely enter a true 'altcoin season', where altcoins will outperform Bitcoin in terms of performance.

Read also: Top 3 Altcoin Presales: Is This a Chance for 1000X Profit?

Conclusion

December 2024 could be a very interesting month for crypto investors. Bitcoin, with the potential to break the $100,000 mark, looks to be gaining ground thanks to supportive institutional and macroeconomic factors. 

Ethereum is not far behind either, with strong momentum thanks to widespread adoption in the DeFi and NFT sectors.

Meanwhile, altcoins are increasingly showing opportunities to skyrocket, with indications that 'altcoin season' could begin soon. Altcoins such as XRP, Solana (SOL), and Cardano (ADA) are showing significant growth, hinting that December could be a defining month for the crypto market as a whole.

For investors, December 2024 is a time full of potential. However, as always, always do in-depth research and carefully consider the investment decisions you make.

FAQs About Bitcoin

What is Bitcoin?

Bitcoin is a consensus network that enables a new payment system and money that is completely digital or can also be interpreted as an electronic currency that uses an open user to user (peer to peer) network system.

Why is Bitcoin going up?

Bitcoin prices have surged for a number of reasons, including President-Elect Donald Trump's friendly attitude toward crypto; the possibility of creating a Bitcoin strategic reserve; a major purchase from MicroStrategy, the largest Bitcoin holder; and the start of options trading on Bitcoin exchange-traded funds.

Can Bitcoin be cashed out?

Asset owners can immediately cash out Bitcoins into cash into bank accounts. For your information, even though you can cash out bitcoin or other crypto assets in these three ways, you can only carry out these transactions through the digital platform/wallet where you store the digital assets.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference: 

Blockchain Center, Altseason Index, accessed December 2, 2024

CCN, CCN article, accessed December 2, 2024

Author: Y