Bullish selling? Institutions appear to be selling for tax reasons as 2021 comes to a close. As resistance flips to support, $52K BTC appears to be the biggest hurdle before new highs.
shows that the past 24 hours have been a rollercoaster ride for the top cryptocurrency after a brief dip below $46,000 in the early trading hours on Dec. 30 was quickly bought up to push the BTC price back above $47,500 by midday.Here’s a look at what several analysts in the market are saying about the year-end price action for Bitcoin and what to expect in 2022 as the mass adoption of blockchain technology and cryptocurrencies continues to unfold.
According to Lifchitz, the volatility of the past week is, in large part, due to weak liquidity in the market. He suggested that it wouldn’t be surprising to “see BTC back up to $50,000 in the next couple of days... as well as down to $46,000.” “Should that resistance get overthrown, the next upside stops are the $60,000 region then $70,000 ATH.”
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