Bitcoin Price Today: What BTC’s $7,770 Move Means For Crypto?

Explore why Bitcoin price shot up $7,770 on Wenesday and what its next target is. Also uncover what this means for the crypto market.
By Akash Girimath
December 12, 2024 | Updated December 12, 2024
Bitcoin Price Is Up 0.56% Today as US Treasury Secretary Says BTC's Becoming Store of Value

Highlights

  • Bitcoin price recovery rally has pushed it past $100,000.
  • A bounce from $99,690 could send BTC to retest the ATH at $104,698 or even higher.
  • On the contrary, a breakdown of $99,690 could knock BTC down to $98,000.

Bitcoin price today trades at $100,157.0 on 11 PM after hitting a daily high of $102,528.0 today after a -1.18% move on September 7.

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Bitcoin Price Today: BTC’s Bullish Comeback

Regardless of the recent market crashes Bitcoin price today is up -1.18%  and trades at $100,157.0. With this optimism back, investors can expect altcoins to rally.

*bitcoin price updated as of 11 PM.

Value of BTC trades at $100,157.0, bringing the year-to-date gain from 56% on October 20 to roughly 135% as of September 7. The YTD performance has slumped due to the recent BTC crash. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands around 70%, and is well below BTC.

Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009.

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Bitcoin To End 2024 on Bullish Note

Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end November 2024 on a positive note. Many even expect a six-digit target for BTC by the end of November, and this is due to the historical returns. History shows that Bitcoin has always performed massively in the fourth quarter.

Historical Bitcoin Price Performance
Historical Bitcoin Price Performance

With that said, if Bitcoin price hits a new ATH in November or December, Bitcoin’s market capitalization, which stands at $1,982.7 billion, could finally hit the $2 trillion mark.

Bitcoin’s Market Capitalization

While Bitcoin’s market cap hovers around $1,982.7 billion, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization. Despite the seven-month consolidation, Bitcoin’s $1.93 trillion market cap remains strong, anticipating it reaching $2 trillion before 2025.

BTC: A composition of 24-hour Trading Volume

Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at $69.5 billion. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance.

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Notable Bitcoin Blockchain Upgrades

With a market cap of $1.93 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly.

Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.

Key Bitcoin Blockchain Upgrades Since 2009

Here are some key milestone upgrades to the Bitcoin network over the past decade.

2020-2024:

  • Taproot Upgrade (2021): Improved Bitcoin’s smart contract functionality, allowing for more complex transactions and enhanced privacy.Muir Glacier Upgrade (2020): Delayed the “ice age” that would have slowed down the network, ensuring the continued smooth operation of Bitcoin.

2017-2019:

  • Segregated Witness (SegWit) Upgrade (2017): Increased the block size limit, allowing for more transactions to be processed on the network, and improved the overall scalability of Bitcoin.
  • Schnorr/Tapscript Upgrade (proposed): Aims to further improve the efficiency and scalability of Bitcoin transactions, but has not yet been activated.
  • SegWit2x (canceled): A proposed upgrade that aimed to increase the block size limit, but was ultimately canceled due to lack of consensus.

2015-2016:

  • Bitcoin Core 0.12.0 Upgrade (2016): Introduced several improvements, including better wallet management and enhanced security features.
  • BIP66 Upgrade (2015): Standardized the way Bitcoin transactions are verified, improving the overall security and reliability of the network.

2013-2014:

  • Bitcoin Core 0.9.0 Upgrade (2014): Introduced a new wallet format and improved the overall performance of the Bitcoin client.
  • BIP0016 Upgrade (2013): Enabled the use of payment protocol, allowing for more efficient and secure transactions.

2010-2012:

  • Pay-to-Script-Hash (P2SH) Upgrade (2012): Introduced a new type of transaction that allows for more complex payment scenarios, improving the overall flexibility of the Bitcoin network.
  • Bitcoin Core 0.6.0 Upgrade (2011): Introduced several improvements, including better wallet management and enhanced security features.

2009-2010:

  • Bitcoin Core 0.3.0 Upgrade (2009): One of the earliest upgrades to the Bitcoin network, introducing several key features and improvements.
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Bitcoin Price Prediction For Next 30 Days

Date Price Change
September 06, 2025112730.41-0.31%
September 07, 2025114556.521.31%
September 08, 2025116382.632.92%
September 09, 2025118787.805.05%
September 10, 2025121337.747.31%
September 11, 2025123485.159.21%
September 12, 2025125364.2210.87%
September 13, 2025126211.3911.62%
September 14, 2025125510.7211%
September 15, 2025124704.5910.28%
September 16, 2025123476.659.2%
September 17, 2025122248.718.11%
September 18, 2025122603.428.43%
September 19, 2025122958.148.74%
September 20, 2025123549.589.26%
September 21, 2025124200.199.84%
September 22, 2025124406.3710.02%
September 23, 2025124316.279.94%
September 24, 2025124119.349.77%
September 25, 2025123762.179.45%
September 26, 2025123416.159.14%
September 27, 2025123114.768.88%
September 28, 2025122813.388.61%
September 29, 2025122843.398.64%
September 30, 2025122873.408.66%
October 01, 2025121542.817.49%
October 02, 2025119872.076.01%
October 03, 2025118925.765.17%
October 04, 2025118462.404.76%
October 05, 2025118068.814.42%

Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $108,918 as of December 31. While there may be a brief correction, BTC’s trend remains bullish. Bitcoin Price Forecast Between 2025 and 2029

Bitcoin Price Prediction Between 2025 & 2029

2025
2026
2027
2028
2029
Month Minimum Price Average Price Maximum Price Potential ROI
January $106,602.21 $124,023.87 $115,313.05 2%
February $106,021.79 $121,836.36 $113,929.08 0.79%
March $105,441.36 $119,648.84 $112,545.11 -0.4%
April $104,860.94 $117,461.32 $111,161.13 -1.7%
May $104,280.51 $115,273.80 $109,777.16 -2.9%
June $103,700.09 $113,086.29 $108,393.19 -4.1%
July $103,119.66 $110,898.77 $107,009.22 -5.3%
August $102,539.23 $108,711.25 $105,625.25 -6.6%
September $101,958.81 $106,523.73 $104,241.28 -7.8%
October $101,378.38 $104,336.22 $102,857.30 -9%
November $100,797.96 $102,148.70 $101,473.33 -10.2%
December $100,217.53 $99,961.18 $100,089.36 -11.5%
All Time $103,409.87 $111,992.53 $107,701.20 -4.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $113,857.24 $114,422.08 $119,009.41 5.3%
February $127,496.94 $128,882.98 $137,929.47 22%
March $141,136.65 $143,343.89 $156,849.52 38.8%
April $154,776.35 $157,804.79 $175,769.57 55.5%
May $168,416.06 $172,265.69 $194,689.63 72.2%
June $182,055.77 $186,726.59 $213,609.68 89%
July $195,695.47 $201,187.49 $232,529.73 105.7%
August $209,335.18 $215,648.39 $251,449.79 122.5%
September $222,974.88 $230,109.30 $270,369.84 139.2%
October $236,614.59 $244,570.20 $289,289.89 155.9%
November $250,254.29 $259,031.10 $308,209.95 172.7%
December $263,894 $273,492 $327,130 189.4%
All Time $188,875.62 $193,957.04 $223,069.71 97.4%
Month Minimum Price Average Price Maximum Price Potential ROI
January $273,464.33 $283,174.17 $337,898.92 198.9%
February $283,034.67 $292,856.33 $348,667.83 208.5%
March $292,605 $302,538.50 $359,436.75 218%
April $302,175.33 $312,220.67 $370,205.67 227.5%
May $311,745.67 $321,902.83 $380,974.58 237.1%
June $321,316 $331,585 $391,743.50 246.6%
July $330,886.33 $341,267.17 $402,512.42 256.1%
August $340,456.67 $350,949.33 $413,281.33 265.6%
September $350,027 $360,631.50 $424,050.25 275.2%
October $359,597.33 $370,313.67 $434,819.17 284.7%
November $369,167.67 $379,995.83 $445,588.08 294.2%
December $378,738 $389,678 $456,357 303.7%
All Time $326,101.17 $336,426.08 $397,127.96 251.3%
Month Minimum Price Average Price Maximum Price Potential ROI
January $392,279.33 $403,931.33 $473,215.83 318.7%
February $405,820.67 $418,184.67 $490,074.67 333.6%
March $419,362 $432,438 $506,933.50 348.5%
April $432,903.33 $446,691.33 $523,792.33 363.4%
May $446,444.67 $460,944.67 $540,651.17 378.3%
June $459,986 $475,198 $557,510 393.2%
July $473,527.33 $489,451.33 $574,368.83 408.1%
August $487,068.67 $503,704.67 $591,227.67 423.1%
September $500,610 $517,958 $608,086.50 438%
October $514,151.33 $532,211.33 $624,945.33 452.9%
November $527,692.67 $546,464.67 $641,804.17 467.8%
December $541,234 $560,718 $658,663 482.7%
All Time $466,756.67 $482,324.67 $565,939.42 400.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $560,378.08 $580,574.75 $682,716 504%
February $579,522.17 $600,431.50 $706,769 525.3%
March $598,666.25 $620,288.25 $730,822 546.6%
April $617,810.33 $640,145 $754,875 567.8%
May $636,954.42 $660,001.75 $778,928 589.1%
June $656,098.50 $679,858.50 $802,981 610.4%
July $675,242.58 $699,715.25 $827,034 631.7%
August $694,386.67 $719,572 $851,087 653%
September $713,530.75 $739,428.75 $875,140 674.2%
October $732,674.83 $759,285.50 $899,193 695.5%
November $751,818.92 $779,142.25 $923,246 716.8%
December $770,963 $798,999 $947,299 738.1%
All Time $665,670.54 $689,786.88 $815,007.50 621%

In the next year, aka 2025, Bitcoin price is likely to stay well above the six-digit territory and shows no signs of correction below it. Coingape’s Bitcoin price prediction data reveals a peak of $104,280.26 in February 2025.

Bitcoin Price Prediction Between 2030 and 2050

2030
2031
2032
2033
2040
2050
Month Minimum Price Average Price Maximum Price Potential ROI
January $801,749 $830,112 $982,981.50 769.6%
February $832,535 $861,225 $1,018,664 801.2%
March $863,321 $892,338 $1,054,346.50 832.8%
April $894,107 $923,451 $1,090,029 864.4%
May $924,893 $954,564 $1,125,711.50 895.9%
June $955,679 $985,677 $1,161,394 927.5%
July $986,465 $1,016,790 $1,197,076.50 959.1%
August $1,017,251 $1,047,903 $1,232,759 990.6%
September $1,048,037 $1,079,016 $1,268,441.50 1022.2%
October $1,078,823 $1,110,129 $1,304,124 1053.8%
November $1,109,609 $1,141,242 $1,339,806.50 1085.3%
December $1,140,395 $1,172,355 $1,375,489 1116.9%
All Time $971,072 $1,001,233.50 $1,179,235.25 943.3%
Month Minimum Price Average Price Maximum Price Potential ROI
January $1,187,598.92 $1,220,803.42 $1,422,711.75 1158.7%
February $1,234,802.83 $1,269,251.83 $1,469,934.50 1200.5%
March $1,282,006.75 $1,317,700.25 $1,517,157.25 1242.2%
April $1,329,210.67 $1,366,148.67 $1,564,380 1284%
May $1,376,414.58 $1,414,597.08 $1,611,602.75 1325.8%
June $1,423,618.50 $1,463,045.50 $1,658,825.50 1367.6%
July $1,470,822.42 $1,511,493.92 $1,706,048.25 1409.3%
August $1,518,026.33 $1,559,942.33 $1,753,271 1451.1%
September $1,565,230.25 $1,608,390.75 $1,800,493.75 1492.9%
October $1,612,434.17 $1,656,839.17 $1,847,716.50 1534.7%
November $1,659,638.08 $1,705,287.58 $1,894,939.25 1576.5%
December $1,706,842 $1,753,736 $1,942,162 1618.2%
All Time $1,447,220.46 $1,487,269.71 $1,682,436.88 1388.5%
Month Minimum Price Average Price Maximum Price Potential ROI
January $1,771,112.67 $1,819,944.67 $2,027,156.42 1693.4%
February $1,835,383.33 $1,886,153.33 $2,112,150.83 1768.6%
March $1,899,654 $1,952,362 $2,197,145.25 1843.8%
April $1,963,924.67 $2,018,570.67 $2,282,139.67 1919%
May $2,028,195.33 $2,084,779.33 $2,367,134.08 1994.2%
June $2,092,466 $2,150,988 $2,452,128.50 2069.4%
July $2,156,736.67 $2,217,196.67 $2,537,122.92 2144.6%
August $2,221,007.33 $2,283,405.33 $2,622,117.33 2219.8%
September $2,285,278 $2,349,614 $2,707,111.75 2295%
October $2,349,548.67 $2,415,822.67 $2,792,106.17 2370.2%
November $2,413,819.33 $2,482,031.33 $2,877,100.58 2445.4%
December $2,478,090 $2,548,240 $2,962,095 2520.6%
All Time $2,124,601.33 $2,184,092.33 $2,494,625.71 2107%
Month Minimum Price Average Price Maximum Price Potential ROI
January $2,574,640.75 $2,647,439.08 $3,079,355.17 2624.3%
February $2,671,191.50 $2,746,638.17 $3,196,615.33 2728.1%
March $2,767,742.25 $2,845,837.25 $3,313,875.50 2831.8%
April $2,864,293 $2,945,036.33 $3,431,135.67 2935.5%
May $2,960,843.75 $3,044,235.42 $3,548,395.83 3039.3%
June $3,057,394.50 $3,143,434.50 $3,665,656 3143%
July $3,153,945.25 $3,242,633.58 $3,782,916.17 3246.8%
August $3,250,496 $3,341,832.67 $3,900,176.33 3350.5%
September $3,347,046.75 $3,441,031.75 $4,017,436.50 3454.2%
October $3,443,597.50 $3,540,230.83 $4,134,696.67 3558%
November $3,540,148.25 $3,639,429.92 $4,251,956.83 3661.7%
December $3,636,699 $3,738,629 $4,369,217 3765.5%
All Time $3,105,669.88 $3,193,034.04 $3,724,286.08 3194.9%
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,782,276.25 $3,919,329.42 $4,544,101.25 3920.2%
February $3,927,853.50 $4,100,029.83 $4,718,985.50 4074.9%
March $4,073,430.75 $4,280,730.25 $4,893,869.75 4229.6%
April $4,219,008 $4,461,430.67 $5,068,754 4384.4%
May $4,364,585.25 $4,642,131.08 $5,243,638.25 4539.1%
June $4,510,162.50 $4,822,831.50 $5,418,522.50 4693.8%
July $4,655,739.75 $5,003,531.92 $5,593,406.75 4848.5%
August $4,801,317 $5,184,232.33 $5,768,291 5003.2%
September $4,946,894.25 $5,364,932.75 $5,943,175.25 5158%
October $5,092,471.50 $5,545,633.17 $6,118,059.50 5312.7%
November $5,238,048.75 $5,726,333.58 $6,292,943.75 5467.4%
December $5,383,626 $5,907,034 $6,467,828 5622.1%
All Time $4,582,951.13 $4,913,181.71 $5,505,964.63 4771.2%
Month Minimum Price Average Price Maximum Price Potential ROI
January $5,486,438.25 $6,000,499.67 $6,542,600.58 5688.3%
February $5,589,250.50 $6,093,965.33 $6,617,373.17 5754.4%
March $5,692,062.75 $6,187,431 $6,692,145.75 5820.6%
April $5,794,875 $6,280,896.67 $6,766,918.33 5886.7%
May $5,897,687.25 $6,374,362.33 $6,841,690.92 5952.9%
June $6,000,499.50 $6,467,828 $6,916,463.50 6019%
July $6,103,311.75 $6,561,293.67 $6,991,236.08 6085.2%
August $6,206,124 $6,654,759.33 $7,066,008.67 6151.3%
September $6,308,936.25 $6,748,225 $7,140,781.25 6217.5%
October $6,411,748.50 $6,841,690.67 $7,215,553.83 6283.6%
November $6,514,560.75 $6,935,156.33 $7,290,326.42 6349.8%
December $6,617,373 $7,028,622 $7,365,099 6415.9%
All Time $6,051,905.63 $6,514,560.83 $6,953,849.79 6052.1%

Roughly five years from now, aka 2030, Bitcoin’s price will see an explosion to the upside, with an all-time high of $774,474 in the aforementioned year. In the same period, BTC could reach a low of $465,154.42. Based on CoinGape predictions, the average price of BTC in 2050 is between $2.9 million and $3.3 million.

Investors should note that these long-term predictions can change and, hence, should be taken with a grain of salt.

Bitcoin Price Analysis: Why BTC Shot up $7,770 Yesterday?

After crashing 4% on December 10, Bitcoin formed a local bottom at $94,190. This move was followed by an 8.25% rally which increased BTC’s value by $7,770 to $101,961. The sudden uptrend comes after two liquidation events that wiped on positions worth $1.5 billion and $1.7 billion on December 5 and 9, respectively. 

During bull runs, these flash crashes are normal and are net bullish for the crypto ecosystem as they reset the high leverage present in the system, allowing markets to climb much higher. As a result of the liquidation event, prices often recover in an impulsive move, suggesting that the trend is back on track.

On the one-hour chart, Bitcoin trades above the Value Area High (VAH) of $99,690. Going forward, investors can expect a minor retracement that retests the VAH. If the uptrend is true, BTC bulls need to defend this key barrier. A bounce here could set the stage for the next leg up.

Under these circumstances, a bounce from $99,690 could send Bitcoin price up by 5.10% to revisit the ATH of $104,698.

BTC/USDT 1-hour chart
BTC/USDT 1-hour chart

On the other hand, if the breakout has a lack of interested buyers, Bitcoin price would breach $99,690. Such a development could see BTC reenter the volume profile’s range that extends from $93,509 to $99,690. This indicator shows that profile of the volume traded between November 11 and today. The VAH and VAL are high and low value areas. The red line is known as the Point of Control (POC), which is where the highest volume was traded. A breakdown of $99,690 could see BTC revisit the POC at $98,000.

Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Methodology

CoinGape prepared a review methodology to rate crypto exchanges, tools, and apps. We curated a list of metrics to evaluate crypto platforms based on their services, user experience, security and customer support, payment gateways and charges, pricing and promotions. Visit our Review Methodology page to learn more about how we review each crypto platform.

This content is purely for educational purposes and should not be considered as financial advice. Do your own research before investing in any crypto platform and only invest the amount you can afford to lose.