Bitcoin (BTC) kicks off a new week of analytics, but that doesn’t mean it will go down $ 40,000 or below.
After a good week, Bitcoin bulls have entered a new week in the global economy as their demand continues to decline.
Near Santa Claus missing, there are few ways to help BTC / USD return to the new year. At the same time, chain rates continue to rise, with miners refusing to pay.
As Christmas approaches, Cointelegraph looks at what to look for this week in terms of the value Bitcoin can achieve.
$ 50,000 seems to be a far cry from Bitcoin bulls
Bitcoin may not be making any significant progress on the weekend, but now the focus is on something that can become a “fall” into the market.
At $ 46,000, BTC / USD is rooted in the family line, bulls can’t get a new $ 50,000 attack.
Purchasing is very common in small investors, but there may be a lower level of market participation.
For a well-known Pentoshi trader, they can make $ 40,000. On a tweet on Sunday, he explained that the exchange of views was a source of support for Bitfinex and its key vendors.
Commenting on the market events at the end of September, he wrote: “Finex is making $ BTC up and down. Believe me, this is a similar thing, they are predominantly for sale at these key levels. See the 40.7 thousand notes for September.”
“I’m currently looking for a lower 42-46k.”
1 hour BTC / USD (Bitstamp) chart. Origin: Business
Others had hoped that one trader would call the week a “green week” led by Galaxy altcoins.
With ten days left, with the market encryption market, the surprise end of 2021 is not far off.
In recent markets, Decentrader’s trading platform has raised the price of NVT Bitcoin to the highest possible price.
Even so, owning one is still beyond the reach of the average person.
“Will we be able to get to Christmas this time and go on strike?” Or will we make more money in the last year? “The reform is over.
“Right now, $ BTC is the basis of this decision, so it would be nice to have a closer look at it before the open process is revealed.”
Bitcoin Best NVT Chart (light blue). Source: See Tools.com
So far, the worst-selling group of bitcoin miners is the miners, who have been coming and going for the past three months.
According to Glassnod, the flow of miners has slowed by almost half a month, and the market is constantly reviving.
In September, there was a sharp decline, with markets declining two weeks later. This means that this month’s project has an early history.
The Bitcoin miner is out of the 1-hour chart (the 7-day moving average). Source: Glassnode / Twitter
Many reports suggest that the excavation process, which began in 2020, will end in unused production.
In other words, miners are not in a hurry to use the funding to stop the new bus after it has been properly excavated.
Replacing a 21-month-old bull on a macro variable
Macro volatility will continue until 2022, something that does not worry investors.
A sudden bear-like bear could end up with a four-fold increase this year and a rejection of the “Santa Claus Rally” from the market.
The allegations include the coronavirus and the U.S. political turmoil, the latter being the senator who denied President Joe Biden spending $ 2 million.
The continent was reduced in Asia and the atmosphere was calm before the United States opened.
“Investors need to be prepared for Covid to continue to play a key role in the market by 2022,” Blake Shane told Robert Shane Bloomberg, chief investment officer at Wealth Management.
“Investors have not been accustomed to long-term change since the last 21 months.”
Sheen will return to the international market from March 2020, when the market crash caused Bitcoin to reach $ 3,600.
In the midst of all this, the US dollar is back in effect, something that may be new to the BTC, which is already related to the greenback.
The US dollar (DXY), which measures the strength of the dollar against the US dollar basket, was 96.6 at the time of writing and reaches