“There are no prerequisites for growth”. What will happen to bitcoin in the coming week
December 25 Bitcoin is trading at $ 16.8 thousand., Over the past seven days, its price has returned to the values of the beginning of the week, and the volatility of the course of the first cryptocurrency was observed only short -term. Experts analyzed the situation in the market and appreciated the prospects for the movement of the Bitcoin course for the next seven days.
“Needs time and favorable news”
Bitriver financial analyst Vladislav Antonov
Week from 19 to December 25 on the crypto turned out to be boring. Bitcoin reacted to a surge of volatility on stock indices and dollar index. Volatility increased on Tuesday (December 20) and Thursday (December 22). The demand for risky assets remained low, since investors fear recessions in the United States due to further increase. The head of the US Federal Reserve, Jerome Powell, promised to raise bets, even if statistics show the weakening of the economy. The first wave of Bitcoin sales faded at $ 16,256, the second – $ 16,559. As a result, the BTC/USDT pair remained in the price range of $ 16,500 – $ 17,000.
A week remained before the three -month and annual candles. At the time of writing, the loss of bitcoin to the dollar over 4 quarter is 13.44%, for 2022 – 63%. A year with three deuces failed for the cryptocurrency market. The market has been under pressure since the beginning of the year against the backdrop of toughening the monetary policy of the US Federal Reserve (aggressive betting), the collapse of stock indices, the strengthening of the dollar, the collapse of the LUNA project, and the loss of confidence due to customers from Russia and the collapse of the FTX Exchange FTX.
January began with a level of $ 46 216. After a fall to $ 15,476, the price of BTC stabilized by $ 16,825. Since November 9, a side trend is observed on the market, from which the exit is expected in the near future. While the price is below $ 18,500, the market remains in the power of sellers. They hold their hand on the pulse and are waiting for the collapse of stock indices to move below to the area $ 12,000. Buyers still cannot recover after FTX collapse, since the losses of investors are calculated in billions of dollars. It takes time and favorable news for a new upward movement.
On Monday, December 26, exchanges in the USA and Europe will be closed. Since American stock indexes closed in the plus, buyers have the opportunity to gain a foothold above $ 17,000 to the environment (December 28). If they do not use this moment, you can expect a zone test of $ 16,000 – $ 16,200.
“The market will move emotions and fears”
Encry Foundation co -founder Roman Nekrasov
There are no prerequisites for a significant growth of bitcoin in the coming weeks. In the best case, we can observe local bursts and attempts to return at least to the zone $ 17,500 – $ 18,000. Bitcoin’s ability to achieve these goals depends on whether it will be able to gain a foothold above the overwhelming area of $ 16,700. If this happens, Bitcoin can return to $ 17,000 with an sight for the next target – $ 17,500. However, so far everything indicates rather that Bitcoin will fall to $ 16,600 in the coming days, which will open the window for leaving even further down to $ 16,300.
The problem of liquidity remains very acute: a massive outflow of bitcoins with centralized crypto -streaks after the collapse of FTX and bankruptcy of a number of cryptobrackers remains a serious challenge for the crypto industry. This can be compared with the flight of deposits in banks, which usually leads to banking crises.
The fear of investors and rumors about the possible criminal prosecution are exacerbated by the largest cryptocurrency rosy of the world of Binance. Articles that money was laundered through it, either Mexican drug carters, then hackers, appear with enviable regularity. After FTX collapse, market participants logically expect tightening the regulation of crypto -streaks in the USA and other regions, so that the actions of users who prefer to display bitcoins and store them on third -party cold cryptocurrencies are understandable. This also does not play in favor of bitcoin growth.
All the positive signals that the cryptocurrencies received after increasing the key rate of the Fed has already exhausted their potential and have been fully taken into account. Now Bitcoin can add a little after the publication of the PSE index, the personal consumption index of households in the United States http://btcnews.fun/?p=155, which is one of the most important indicators of inflation.
If we talk about the next week, then there is no publication of economic indicators important for the crypto, so the market will mainly move emotions and fears.
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