Bitcoin at a Crossroads: Will It Soar to New Highs or Undergo a Deeper Correction?
On December 20, 2024, Bitcoin (BTC) showed significant volatility, raising questions among investors: will BTC reach a new high or experience a deeper correction?
Technical Analysis
According to data from TradingView, the technical rating for Bitcoin is currently neutral. Indicators such as the Ichimoku Cloud and MACD show mixed signals, reflecting market uncertainty.
Meanwhile, analysis from Investing.com shows a "Strong Sell" signal on technical indicators and moving averages for the BTC/IDR pair on Indodax. Indicators such as the RSI (14) are at 34.544, indicating oversold conditions, while the MACD (12.26) is in negative territory, indicating bearish momentum.
Fundamental Analysis
From a fundamental perspective, Bitcoin remains the asset with the largest market capitalization in the crypto world, reflecting strong investor confidence. However, factors such as government regulation, institutional adoption, and the development of blockchain technology continue to affect the price of BTC. According to analysis by BeInCrypto, Bitcoin's current circulating supply stands at 19.8 million, with a market cap of around $1.9 trillion.
Conclusion
Taking into account both technical and fundamental analysis, Bitcoin is at a critical juncture. Investors are advised to monitor key technical indicators and current news developments to make informed investment decisions.
*Disclaimer: This article is for informational purposes only and does not constitute investment advice. Always do your own research before making any investment decisions.*
