- Bitcoin (BTC) remains below $50K.
- Possibilities for hitting $100K are down.
- Santa Rally hasn’t occurred till now, the overall crypto and trade industry in demise.
Recent times are quite tough for the king of cryptos. In spite of epic surging and acclaiming a new All-Time-High (ATH) into the month of November, things became opposite the following month.
Moreover, the recent market crash completely shattered Bitcoin (BTC), drawing it down to almost close to $45K. Although, the market kind of picked up for the past 48 hours, yet BTC didn’t even surpass $50K.
Indeed, the much anticipated $100K touchdown for Christmas may also be a myth though.
BTC’s Moving Average (MA) Factor
In regards to the above, BTC is evidently down and somehow trying to close up more real. Accordingly, BTC touched the mark of $47K on December 19. And so, this price is actually close to the Moving Average (MA).
Moreover, BTC had remained stable for the past two days trying to surge up again slowly.
In fact, at present, the price of BTC stands together with BTC’s MA line of BTC. The MA plays a vital role in aspects of the upward trend for BTC.
Santa Rally Disappointment
It’s a common and usual thing for all sorts of businesses, namely both crypto and the stocks to surge up during the Christmas nearing and New year nearing period.
However, to everyone’s disappointment, the Santa Rally has not yet occurred and all markets remain dormant and bad.
Also, many expected the markets to soar, but eventually, it’s the vice versa situation now. As far as 2021’s considered, it seems there won’t be any ‘Santa Rally’ for the year!