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Bitcoin: Assessing the odds of a year-end breakout
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ambcrypto.comOn 16 November, Bitcoin dropped by almost 13%. On 3 December, it declined by close to 25% yet again. The panic surrounding BTC’s corrections and its subsequent consolidation gave way to various narratives about whether Bitcoin would make it above $55k or below $45k. This has remained a crucial question ahead of the end of the year.
Over the last few months, there have been persistent bullish divergences that pointed towards year-end breakouts. Nonetheless, with these bullish structures still in play, BTC has still managed to drop in price. Ergo, expecting $100k by the end of this year would be a little too optimistic. However, Bitcoin could still see a bounce.
The bearish downturn in BTC’s price following remarks from Federal Reserve Chair
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