Bitcoin Price Momentum Slows, but Two Key Events Could Change Everything in December

Sentiment status: Neutral

After a bullish November, Bitcoin is struggling, trading below $98,000. What experts predict for the end of 2024.

As December begins, Bitcoin’s price has failed to sustain the bullish momentum seen in November. After hitting a new all-time high of $103,900, the leading cryptocurrency has slipped out of the six-figure range.

Currently, the most significant asset in the financial ecosystem is trading below $98,000, leaving investors eagerly anticipating developments in the final weeks of December.

While Bitcoin has "cooled off" in recent days, two pivotal events have the potential to shift the narrative before 2024 comes to a close.

What Factors Could Favor Bitcoin in December?

One of the key factors to watch is the appointment of Paul Atkins, a staunch crypto advocate, as the head of the U.S. Securities and Exchange Commission (SEC).

"He is expected to push for more favorable regulations for Bitcoin and other digital assets, removing barriers that have hindered institutional adoption" noted Matías Part, an analyst at Bitget.

Another significant development is Microsoft’s upcoming vote on a proposal to invest in Bitcoin as part of its financial strategy.

"If approved, this could mark a turning point in the relationship between major tech companies and cryptocurrencies" the expert added.