Bitcoin (BTC) chipped away at its latest gains on Dec. 31 as the final trading session of 2022 opened on Wall St.

BTC/USD i-hr candle chart (Bitstamp). Source: TradingView

Bitcoin posts 60% yr-to-engagement gains

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it meandered around the $48,000 mark, having reached multi-day highs of $48,550 hours earlier.

The uptick had coincided with the Dec death on Bitcoin options, by far the biggest date on the options calendar at nearly $6 billion. Conspicuous ownership was recorded on U.South. professional commutation Coinbase Pro in the run-up to the event.

With stocks heading higher in Asia, all eyes were on the potential for a final flourish confronting a background of business over aggrandizement in 2022.

The S&P 500 bankrupt its 70th all-time loftier of the year on Dec. 30 at iv,806 points, but side by side yr could look very different for equities thanks to the Federal Reserve. For Jim Paulsen, chief investment strategist at the Leuthold Grouping, the hereafter was vivid — at least for H1.

"A lot of people call back we might give some of this back as nosotros enter the new yr," he told Bloomberg.

"That could happen, but I remember we're going to maybe get above 5,000 during the first half of the twelvemonth on excitement that finally nosotros may be moving COVID from a pandemic to an epidemic and on the realization that inflation is moderating."

BTC/USD looked set to terminate the twelvemonth effectually $19,000 higher than its starting position. Zooming out, Scott Melker, the pop trader and podcast host known equally the Wolf of all Streets, argued that the long-term BTC/USD spoke for itself.

"Yous want to zoom out and feel bullish? Accept a gander at the BTC yearly nautical chart. Up Only," he said as part of Twitter comments on Dec. 31.

BTC/USD 1-month candle nautical chart (Bitstamp). Source: TradingView

At least $100,000 past December 2022

Also in a celebratory mood, meanwhile, was PlanB, the quant annotator well known for his indelible but increasingly controversial stock-to-period Bitcoin toll models.

Related: Bitcoin can hitting $333K 'parabolically' if this BTC price fractal plays out

Reflecting, he noted that Bitcoin was up 60% in USD terms in 2022, with stocks at 27% and gold trailing with -4%.

Despite being nowhere well-nigh where he hoped it would be, BTC/USD remains true to stock-to-flow's permitted deviation, and is thus in line to striking its predicted average price of $100,000 past 2024.

An accompanying survey from earlier in the week, which garnered most 180,000 responses, revealed that the majority of respondents believe that, one year from now, Bitcoin will trade somewhere betwixt $100,000 and $200,000.

Bitcoin Twitter survey. Source: Twitter