Home CryptocurrencyBitcoin Bitcoin could fall in the short term

Bitcoin could fall in the short term

by SuperiorInvest

Bitcoin fell on Tuesday after experiencing low volatility in recent days, and traders expect the cryptocurrency to fall further in the coming weeks. Ethereum was little changed, while Optimism OP jumped 5% on the day. According to B2C2, an over-the-counter market maker, BTC has witnessed a buyer preference in recent weeks and could fall in the near term. “In recent market observations, bitcoin has shown notable buyer preference, even though the cryptocurrency’s price oscillated within a tight range between $42,000 and $43,500 for much of last week,” said Ed Goh, chief of B2C2 operations. “With no immediate news on the horizon and the launch of Ethereum now completely behind us, one would expect that Bitcoin’s near-term range could narrow in the coming weeks, especially with the Chinese New Year on the horizon.” Crypto Finance AG analyst Matteo Bottacini said that due to the lightness of the current macroeconomic outlook, “any possible sudden crisis is a favorable buying opportunity, especially a drop towards the $40,000 level.”

Source Link

Related Posts