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Analyst says Bitcoin is 'on sale' after BTC price dips below $54,000
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Bitcoin's (BTC) downtrend extended a few rungs lower on Dec. 3 after the price dropped under $54,000 and traders will note that the BTC/USD daily chart shows a notable uptick in sell volume.
Investors seem concerned at the emergence of a new Covid-19 variant and hawkish comments from the Federal Reserve. Meanwhile, veteran investment icon Charlie Munger added to the fire by comparing the price action in the crypto market to the dot-com era that ended with the bubble popping.
Here’s a look at what analysts have to say about the current market and what to be on the lookout for as 2021 begins to wind down.
The “listless” nature of Bitcoin's price action over the past few weeks was highlighted by crypto market intelligence firm Decentrader, who
Read more on cointelegraph.comAbout this in other media
$1.1B in Bitcoin options expire on Friday, but data points to a sub-$55K BTC price cointelegraph.com /2 years ago
Bitcoin holds $50K as analyst says weekly timeframes confirm bull market remains intact cointelegraph.com /2 years ago
Bitcoin below $50,000, at early October levels, after weekend's battering business-standard.com /2 years ago
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