Traders delay $100K Bitcoin prediction, but still expect a blow-off top in 2022 By Cointelegraph

Traders delay $100K Bitcoin prediction, but still expect a blow-off top in 2022 By Cointelegraph



© Reuters.

Bullish merchants that drank the ” to $100,000 by year-end” Kool-Aid at the moment are coming to phrases with the truth that there could also be no Santa Claus rally to wrap up 2021. At the second, the pipe dream has morphed into easy hopes that the top cryptocurrency can at the very least end the yr above $50,000.

Data from Cointelegraph Markets Pro and TradingView reveals that the bounce in value seen in BTC following remarks from Federal Reserve Chair Jerome Powell has just about evaporated and over the previous 48-hours the value has swept recent lows at $45,500 and from the look of issues, the value might drop even additional.

BTC/USDT 4-hour chart. Source: TradingView
1-week chart. Source: Twitter (NYSE:)
BTC/USDT 4-hour chart. Source: Twitter
BTC value throughout every halving cycle. Source: Twitter