Bitcoin started the new working week with a decline despite the fact that the cryptocurrency has reasons to continue its positive movement.
We tell you what is happening with Bitcoin and why many members of the crypto community are waiting for the coin to continue to grow.
What’s happening with Bitcoin
On December 5, 2024, Bitcoin broke through the $100,000 level for the first time in history. Afterwards, the cryptocurrency entered a correction, followed by the next wave of growth, but this time without updating the maximum. At the time of writing, BTC is trading at $96,400.
The cryptocurrency managed to break through a psychologically important level on the news of the dismissal of the head of the US Securities and Exchange Commission (SEC) Gary Gensler, which was followed by information that the post of chief commissioner could be taken by Paul Atkins, who is loyal to crypto.
The growth of the coin was also supported positive assessment of BTC head of the American Federal Reserve. Jerome Powell compared Bitcoin to gold, clarifying that he does not see the cryptocurrency as a competitor to the US dollar.
Positive news for the crypto community continues to come from America. For example, Donald Trump, who won the US presidential election, found a “crypto king”. We are talking about a position that involves control of cryptocurrency and AI initiatives in the White House. The post went to crypto-loyal David Sachs. One of the first tasks that the “crypto king” will work on is the winding down of the Choke Point 2.0 operation. We are talking about an initiative to put pressure on the cryptocurrency sector through banking instruments.
The anticipation of the implementation of Donald Trump’s crypto initiatives adds to the positive. The politician, among other things, plans to create a bitcoin reserve in the United States.
What investors expect from BTC
Crypto investors have differing opinions on where Bitcoin will go next. Many people brag profitable sale of BTC at a local maximum and wait for the correction to continue in order to purchase cryptocurrency again at a favorable rate. For example, blogger AltcoinGordon, popular in the crypto community does not exclude Bitcoin falls to $31 thousand.
One of the factors supporting the bearish scenario may become sale of cryptocurrency by long-term investors.
Others expect continued growth. According to a number of participants in the crypto community, BTC will be able to set a cyclical high near $200,000. Many are sure The fact is that parabolic growth awaits the cryptocurrency ahead, which will no longer be interrupted by corrections.
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Source: Cryptocurrency
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