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Bitcoin traders expect $60K by month’s end, marking $45K as ‘accumulation’
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The bearish pressures facing the cryptocurrency market at the end of 2021 have continued into the first week of 2022 after the price of Bitcoin (BTC) dropped below $47,000 on Jan. 1 and the asset still faces stiff headwinds on the shorter timeframe charts.
Data from Cointelegraph Markets Pro and TradingView shows that, after climbing above $47,500 to start the new year, the price of BTC fell under pressure in the afternoon on Dec. 3. Currently, the price has dropped to $46,500 where bulls now look to mount a defense.
Here’s a look at what several analysts in the market are saying about the path ahead for Bitcoin in 2022 as the global economic system continues to grapple with inflation.
Analysis of the weekly price performance for BTC was
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