Bitcoin started the new working week with a decrease despite the fact that the cryptocurrency has reasons for continued positive movement.
We explain what is happening with Bitcoin and why many participants in the crypto community are waiting for the continuation of the coin's growth.
We explained how the process of buying Bitcoins with a card for rubles looks.
What is happening with Bitcoin
On December 5, 2024, Bitcoin broke the $100,000 level for the first time in history. After that, the cryptocurrency entered a correction, followed by the next wave of growth, but this time without updating the maximum. At the time of writing the review, BTC is trading at $99,100.
The cryptocurrency managed to break through a psychologically important level following the news of the dismissal of the head of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, followed by information that the post of chief commissioner may be taken by crypto-friendly Paul Atkins.
The coin's growth was also supported by the positive assessment of BTC by the head of the U.S. Federal Reserve. Jerome Powell compared Bitcoin to gold, clarifying that he does not see a competitor to the U.S. dollar in the cryptocurrency.
Positive news continues to come from America for the crypto community. For example, the newly elected U.S. president, Donald Trump, has found a 'crypto czar'. This position implies control over cryptocurrency and AI initiatives in the White House. The post went to crypto-friendly David Sachs. One of the first tasks that the 'crypto czar' will work on is the winding down of operation Choke Point 2.0. This refers to the initiative to pressure the cryptocurrency sector through banking instruments.
The expectation of Donald Trump's crypto initiatives adds positivity. The politician plans, among other things, to form a Bitcoin reserve in the U.S.
What investors expect from BTC
Opinions among crypto investors about where Bitcoin will go next diverged. Many boast about selling BTC at a local maximum and are waiting for a continuation of the correction to buy the cryptocurrency again at a favorable rate. For example, a popular blogger in the crypto community, AltcoinGordon, does not rule out Bitcoin falling to $31,000.
One of the factors supporting the bearish scenario could be the sell-off of cryptocurrency by long-term investors.
Others are waiting for the continuation of growth. According to several participants in the crypto community, BTC could establish a cyclical maximum close to $200,000. Many are confident that a parabolic growth awaits cryptocurrency ahead, which will no longer be interrupted by corrections.
$BTC
