Bitcoin is seeing a lot of volatility and losses at the moment, reaching near $4K on Thursday. The market has seen an overall decline since December 17th, with some staying bullish however bearish momentum seems to be winning out for now.
The “bitcoin price” is a measure of the value of Bitcoin. It has been near $4K for most of today, but has recently reached an all-time high of $6,922. The cryptocurrency’s market cap is currently at over $100 billion.
Bitcoin (BTC) fell roughly $4,000 on December 28 as the market signaled that the bull run would have to wait.
Analysts at BTC expect $44,000.
1 hour candle chart of BTC/USD (Bitstamp). TradingView is the source of this information.
BTC/USD touched lows of $48,335 on Bitstamp during Tuesday’s Wall Street open, according to data from Cointelegraph Markets Pro and TradingView.
The pair had broken beyond $52,000 the day before, reaching a three-week high, when sellers put a stop to it.
Bitcoin was trading at $49,000 at the time of writing, as traders seized the chance to remind investors of the currency’s continuous active range.
“When faced with adversity, humans become bullish. It’s a thing, you know “Scott Melker described the discussion.
“The range is still wide. There has been no change.”
The $52,000 rally failed to reach any of the previously indicated turning marks, including $53,000, which represents Bitcoin’s $1 trillion market valuation.
In the meanwhile, popular trader Pentoshi has highlighted $44,000 as a possible floor if the current trend continues. Based on current behavior, somewhat longer durations presented a similar forecast.
Price has been rotating around a fulcrum.
Return to the bottom of the channel or bounce? pic.twitter.com/BTJR5rN87I
— December 28, 2021, Nunya Bizniz (@Pladizow)
However, zooming out, there were some negative aspects on the horizon. Blockware’s chief insights analyst, William Clemente, saw a probable replay of the behavior that occurred shortly after the last all-time high in 2017, which resulted in a whole year of bear market.
In Twitter comments, he said, “Judgment day is coming for BTC.”
Concerns about magical equities readouts loom.
As a result, Bitcoin provided a stark contrast to macro Tuesday, when the S&P 500 achieved its 69th all-time high of the year.
Despite 70 percent increases in 2021, veteran Bitcoin hodlers are still selling record low sums of BTC.
Stock market euphoria was already ruffling feathers among commentators worried about a possible gulf between the statistics and actual reality, which was approaching a new high.
To put things in perspective, the S&P 500 may finish today at another all-time high, the 69th this year, second only to the 77 all-time highs set in 1995, but the average S&P 500 comp is down 18% from its all-time high, implying substantial weakness under the surface. pic.twitter.com/3RsPFP1Ajs
December 27, 2021 — Holger Zschaepitz (@Schuldensuehner)
According to Cointelegraph, the Federal Reserve of the United States will have a key influence in determining Bitcoin’s success in 2022.
Meanwhile, the BTC/USD pair is dealing with a low liquidity — and consequently possibly high volatility — Christmas season.
Watch This Video-
Bitcoin has lost $4,000 in value this week after the S&P 500 hit its 69th all-time high of 2021. Reference: bitcoin october 2021.
- bitcoin news
- bitcoin price prediction
- bitcoin up today
- bitcoin climbs
- binance bitcoin drop