Crypto Analysts Remain Confident Despite Bitcoin’s Price Pullback
A slight retreat in Bitcoin’s price within the last 24 hours prompts crypto analysts to inform their extensive followers that it’s a regular part of the market flow, urging them to stick to the long-term plan.
Crypto Analysts Speculate, Remain Confident
On X (formerly Twitter), crypto analysts shared insights on Bitcoin’s recent price decline. Jelle, known to 54,500 followers, maintained confidence in the market despite the price dip.
“Riding my spot holdings higher, using the smol leveraged account to buy dips. Expecting new all-time highs by summer.”
At the time of publication, Bitcoin’s price stands at $40,805.
Crypto Analysts Amplify Speculation Trends In Recent Times
The majority of crypto analysts are keeping a close eye on Bitcoin’s price and speculating around its movements in recent times. This is due to two major events coming up in the near future.
The first being, the US SEC’s decision to approve or deny a spot Bitcoin exchange-traded fund (ETF) is on January 10. Many analysts believe there is a potential for price movement in the future should this be approved.
The second is the Bitcoin halving in April 2024.
Meanwhile, BeInCrypto recently reported that the Bitcoin halving is also causing big crypto mining companies to start majorly speculating.
Major crypto mining companies have reportedly spent $747 million on facilities and equipment this month, ahead of the halving next year.
Hot Take: Crypto Analysts Remain Bullish Despite Short-Term Pullback
A slight pullback in Bitcoin’s price over the past 24 hours has not shaken the confidence of crypto analysts. They assure their followers that such fluctuations are a normal part of market dynamics and emphasize the importance of sticking to long-term investment plans. While some analysts predict new all-time highs in the coming months, others are closely monitoring upcoming events such as the US SEC’s decision on a Bitcoin ETF and the Bitcoin halving in 2024. These events have sparked speculation among analysts, with many anticipating potential price movements. Despite short-term volatility, crypto analysts remain bullish on Bitcoin’s long-term prospects.
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