According to experts, one of the most interesting periods in the cryptocurrency market is going through. While this is thought to be entirely due to monetary policies in the USA, the expectation that the Fed will increase interest rates and relieve the markets also shook the crypto side. Bitcoin bottomed out at $45,894.85 on December 14. 3 experienced analysts determine the next critical levels.
Analysts shared their Bitcoin predictions
Let’s start with on-chain analyst Whalemap. The mysterious Twitter analyst says the drop could deepen to $40,000. In BTC, he stopped this forecast of the analyst at $ 45,894.85 for the moment. The analyst also says that if Bitcoin fails to break $48,000, it will confirm the drop. Whalemap’s first targets on the upside are the $50,000 and $51,000 resistances. There will be no rise for Bitcoin before this region, which is the common opinion of most analysts, is broken. Let’s continue with the next expert…
Next up, for famous cryptocurrency analyst Mohit Sorout, the drop is temporary and Bitcoin may soon break all resistance. Many popular analysts, including PlanB’s S2F model, expect 6-digit prices from Bitcoin at the end of the year. Contrary to Whalemap’s expectations for a drop to $40,000, Sorout thinks the negative funding and buying opportunities will attract serious buyers.
Bloomberg analyst bullish on cryptos
Finally, let’s take a look at Mike McGlone’s analysis. McGlone thinks that the United States can use cryptocurrencies with appropriate regulations in 2022 and this will skyrocket Bitcoin and Ethereum prices. According to the analyst, the financial crisis puts many countries and industries in a difficult situation, which makes the deflationary nature of cryptocurrencies more. As a result, McGlone, who has gradually weakened the US dollar, expects the crypto money market, especially BTC and ETH, to gain upward momentum.