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Bitcoin and the cryptocurrency market are closing the year in a cautious equilibrium, with market sentiment remaining wary despite a slight price increase.
The total market capitalization hovers around $2.97 trillion, reflecting modest gains rather than a decisive surge. While volatility has decreased compared to the October crash, overall market activity suggests the market is in a consolidation phase rather than losing momentum.
Bitcoin briefly recovered today, rising above $90,000, but this was short-lived, and the price fell back to around $87,000.
With investors closely watching the BTC price just two days before the new year, il Capo of Crypto, a well-known market analyst, shared his latest analysis.
Il Capo, known as a bearish analyst in the market, stated that he expects Bitcoin to rise.
The analyst noted that Bitcoin reached its local low ($80,500) on November 21.
And Bitcoin has been fluctuating between $84,000 and $90,000 for over a month now.
The analyst stated that $90,000 is the most crucial level for Bitcoin to recover.
If Bitcoin breaks through the key $90,000 level, it could rise above $95,000. After that, if Bitcoin maintains its upward trend and experiences a breakout above $95,000, it could climb to $100,000.
“90.000 dolar, geri kazanılması gereken kilit seviye. Eğer bu gerçekleşirse – > 95.000 dolar. Bunun üzerinde net bir kırılma olursa 100.000 dolar.
I think this is the likely scenario. There is an expectation of an increase.”
*This is not investment advice.
cryptobriefing.com
coindesk.com