According to Bloomberg, Matt Maley, chief market strategist at Miller Tabak + Co, said investors are concerned that Bitcoin "has to take a breather now because it has basically tested the $100,000 level," adding that the bullish sentiment around Bitcoin "is getting extreme," BlockBeats reported. Since the Republican victory on November 5, the overall value of the digital asset market has increased by about $1 trillion.
David Lawant, head of research at cryptocurrency prime broker FalconX, said: "As Bitcoin approaches the $100,000 mark, I see an intensification of seller bias, which suggests that we may experience consolidation around this level in the short term before continuing to break above it."
“Bitcoin has been extremely overbought since the election and it was destined to stagnate,” said Stephane Ouellette, CEO of cryptocurrency investment firm FRNT Financial Inc. “Having said that, this is hardly a correction, we’re just back to where we were in the middle of last week.”
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Analysis: Bitcoin temporarily stagnated after approaching $100,000, and may experience consolidation in the short term
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BTC
95,063.5
-2.04%
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