Analysts predict a bearish trend in Bitcoin that could encounter resistance, warning that if it fails to recover the $43,000 area, the decline could persist.
Bitcoin moderates its bearish behavior of the last few hours and begins to recover ground towards US$43,000. The last business session of the year is mixed for the main cryptocurrency coinciding with the expiration of the options of the Bitcoina development that is expected to instill greater volatility in the cryptocurrency market.
The accumulation of these contracts often leads to speculation about the future value, possibly increasing volatility. Since it reached its annual record close to US$45,000 on December 8, the price of Bitcoin seems to show indecision, vacillating in its trend between US$42,500 and flirting with US$43,000.
Bitcoin: what analysts predict
Analysts predict a bearish trend in Bitcoin that could find resistance, warning that if it fails to recover the $43,000 areas, the decline could persist. However, on the horizon of 2024, two factors could prompt a rally: the reversal of monetary policy and the possible approval of Bitcoin ETFs.
Currently, this leading cryptocurrency has a market capitalization of around $830 billion, consolidating itself as the most valuable in the crypto ecosystem, representing approximately 51% of the market.
As for other cryptocurrencies, Ethereum sees a drop to $2,349.78,
The general decline in the cryptocurrency market has dragged the market capitalization to $1.67 trillion, showing a panorama of uncertainty in the short term for this emerging financial ecosystem.
Source: Ambito
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