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Bitcoin loses nearly $ 4,000 over the day

 


The stock market has reason to celebrate: With Bitcoin, on the other hand, the mood is tilting a bit.


Bitcoin ( BTC ) fell nearly $ 4,000 on December 28. So the bull run will have to wait a little longer.


BTC analysts expect $ 44,000

Data from Cointelegraph Markets Pro and TradingView shows BTC / USD hit a low of $ 48,335 on Bitstamp when Wall Street opened on December 28th.


The previous day, the pair managed to climb above $ 52,000, a three-week high. However, the pressure to sell put an end to this run.


At press time, Bitcoin was hovering around $ 49,000. This confirmed the existing range again.


"People are bullish for resistance. This is really so," summarized Scott Melker together.


"Still in a range. Nothing has changed."

Despite the surge to $ 52,000, none of the levels previously identified as turning points could be attacked, particularly the $ 53,000 mark. At this point, Bitcoin surpasses a market capitalization of $ 1 trillion.


Well-known trader Pentoshi names $ 44,000 as a possible bottom should the downward trend continue. The slightly longer periods of time give a similar outlook given the current behavior.


On the other hand, however, bearish aspects are also recognizable. William Clemente, the senior analyst at Blockware, saw a possible repetition of the behavior immediately after the old all-time high of 2017. After that, there was a full year of a bear market.


"Judgment Day is coming for BTC," he warned on Twitter .


Cause for concern?

Bitcoin performed in the opposite direction to the macro market on December 28th as the S&P 500 hit its 69th all-time high this year.




The almost record-breaking stock market exuberance has already caused unrest among experts. They feared a possible gap between the numbers and empirical reality.


As Cointelegraph reported, the US Federal Reserve will play a crucial role in the development of the Bitcoin rate.



Meanwhile, BTC / USD is seeing low liquidity over the holidays, threatening potentially high volatility.

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