Bitcoin ends 2021 well below $100k target, where will price go?
Bitcoin appears to be trading near key price levels. Many analysts had predicted it would end the year with price close to 100k but those predictions have not come to fruition. In fact, it wasn't even close. Will a bull rally in the new year help Bitcoin to reach these heights, or could we be set for more bearish price action at the start of 2022?
For now, the $45,000 level has acted as support with dip buying taking place. If we continue to see strength it may confirm a local bottom. However, if we plunge further we could see a longer-term bearish market amid a flash crash.
Bulls will be targeting resistance near $51,000 and this period of consolidation may be gearing up for another run. Price in December has been mainly trading between these levels with
This start of the new year is notable for increased volatility in crypto markets.
For now, the $45,000 level has acted as support with dip buying taking place. If we continue to see strength it may confirm a local bottom. However, if we plunge further we could see a longer-term bearish market amid a flash crash.
Bulls will be targeting resistance near $51,000 and this period of consolidation may be gearing up for another run. Price in December has been mainly trading between these levels with
This start of the new year is notable for increased volatility in crypto markets.
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