Bitcoin made a sudden 3.58% move towards $106,533, surprising the crypto community. Some analysts attribute this move to the influence of Moving Average 20. This has sparked discussion about a potential Christmas rally. Factors behind this momentum include an increase in wallet addresses holding over 100 BTC, indicating market confidence. MicroStrategy, led by Michael Saylor, recently joined the Nasdaq 100 index. This development could lead to index funds buying more of MicroStrategy's shares, potentially resulting in further Bitcoin purchases. The company has been regularly buying Bitcoin and is expected to continue. As Donald Trump prepares to take office again, there is hope among crypto enthusiasts that he may create a strategic Bitcoin reserve. If he follows through on this and implements pro-crypto policies, it could provide a boost to the entire crypto ecosystem. Bitcoin's charts show it reaching an all-time high and staying above $100k, which is seen as a significant achievement. However, there are risks involved, and a consolidation or correction may be necessary for the rally to continue. The RSI on the weekly chart is in the overbought zone. If the rally continues, the price could reach $120k by the end of 2024. Despite potential bumps in the road, such as the upcoming Federal Open Market Committee meeting, Bitcoin's momentum appears likely to continue given factors such as MicroStrategy's buying and potential pro-Bitcoin policies under Trump. Overall, there is optimism about Bitcoin's future price potential.



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