Bitcoin (BTC) to Remain Below $60K till 2022

Bitcoin (BTC) to Remain Below $60K till 2022
  • BTC still remains below $60K.
  • Statistics reveal BTC will remain below $60K till end of the year 2021.
  • BTC to hit new ATH only in 2022.

The mystery around Bitcoin (BTC) seems to never end, as it keeps unfolding new ethics with the passing of everyday. From a true analyst’s point of view, their perception and prediction of BTC seems to always be logical to the current time. 

However, at the same time, the opinions of live traders depict a different story to the overall predictions. Yet, both terms are the actual fact and reality many times. 

The Play of December 4 Market Crash

Everyone in crypto knows very well that after playing a sinful good play for the first 3 days of December, the entire crypto market blew down and BTC got hit worse. Moreover, the fact is that still BTC is around the $48K price range and remains dormant below $50K. 

Also, the market crash resulted in many leveraged long term contracts breaking down too, resulting in losses of more than $840 million. Besides, as many terms, the market crash started with the outbreak of the now trending and devastating Omicron unleash. 

In addition to all this, adding fuel to the fire is the inflation in the U.S which has hit the highest in the past 40 years. Such serious epic historical points have adversely affected the price of BTC.

However, even though the down of BTC by 26% took everyone to fear, big giant opportunists who were exactly waiting for this moment grabbed up as much as they could. 

And so, MicroStrategy, officially revealed that they have acquired about 1,434 BTC amidst the market crash. In spite of this, now the overall BTC stacks of MicroStrategy amounts to 122,478 BTCs.

Bitfinex Views 

Bitfinex, one of the major crypto exchanges in the world, terms that certain types of traders, especially the margin traders are also seeking profits with the low price of BTC.

 In spite of this, according to the statistics put out by Bitfinex, the majority of the BTC margin traders never left out and remained to hold onto their holdings. 

Despite the margin traders borrowing the cryptos and hoping for a decrease in prices, they actually kept dormant during the market crash. 

Accordingly, Bitfinex puts out that all this reveals to the fact that BTC will be below the $50K price range for a significant time period.

 Moreover, it’s sure that BTC won’t surpass $60K again till the end of the year 2021. And so, this points to the fact that the next ATH for BTC would be only in the year 2022.

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.