Leading cryptocurrency Bitcoin ( BTC), started to move away from the possibility of a possible rally as the end of the year approached.
The turbulent year of the cryptocurrency market is ending in a week. This past year, many major crypto organizations have filed for bankruptcy. The bankruptcies that brought massive crashes exacerbated the crypto bear market. Pioneer and leader of the industry bitcoin , well away from the highest peak point. It has been moving in a bear trend for over a year. BTC started to show signs of recovery. However, these signals do not indicate that the bear market is over yet. BTCstarted to move away from the possibility of a year-end rally.
Bitcoin Moves In The Current Price Zone
The leader of the crypto industry Bitcoin ( BTC), $16,800 maintains its level of activity. As the year approached, many crypto investors and analysts thought there might be a small bull run. However BTCshowed no activity for the year-end rally.
Crypto analyst and commentator Michael van de Poppe, BTCsupport level for $16,750stated that. Poppe, if the support point is broken $16,400 He claimed that he could fall to the point. However PoppeAccording to BTCif it manages to hold on to the support level $17,400can complete the year.
On the other hand, the comments of many crypto analysts are also Poppe is of the same nature. At a glance, BTC ‘s end of the year rally does not seem possible. However, the leading cryptocurrency seemed to enter the new year more comfortably. The flurry of recession in the global economy, inflation moves of countries and the move away of bad actors from cryptocurrencies were interpreted positively.
