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Bitcoin could 'drive people nuts' for months with $53K BTC price ceiling — analyst
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Bitcoin (BTC) may spend "months" ranging between recent $42,000 lows and $53,000 and cause panic in the process, popular analysis warned on Dec. 6.
Discussing the BTC price outlook on Twitter, Scott Melker, known as the Wolf of All Streets, said that ranging behavior could last well into 2022.
After failing to reclaim even $50,000 after last week's crash, BTC/USD is spawning bearish sentiment this week.
As sentiment sits deep within in the "extreme fear" zone, Melker joined those steering clear of the sky-high short-term price predictions which were previously ubiquitous.
"My general view. >53K again resumes the bullish case. <42K again puts 28K back in play," he summarized.
A further post put the timeframe for such price action to play out at
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