Spain
Portugal
Bitcoin is nearing completion in 2022 in unstable macroeconomic conditions. In the US, inflation remains at high values, which forces the Fed to act more aggressively. In many ways, this contributed to the drawdown of the flagship crypto asset this year by 70% relative to ATH, fixed at $69,000.
Experts note that this year bitcoin has become one of the worst assets in terms of market dynamics, demonstrating a negative yield of -60%. Apparently, the flagship digital asset will end 2022 in the consolidation phase. Bitcoin has failed to capitalize on the run-up to the last Fed meeting. Bitcoin is also burdened by scandals and mass bankruptcies in the cryptocurrency sector.
As of December 30, the flagship is trading near the $16,490 mark, while it failed to stay above the target area of $17,000. According to the well-known cryptanalyst Mikael van de Poppe, if BTC can gain a foothold above the $17,000 level, then you can count on a local bull run to $17,600. Meanwhile, many technical metrics indicate that the bears have not yet exhausted their potential.
Without a doubt, investors will actively monitor the actions of the Fed and the further development of the situation around the collapse of the FTX in the coming months. Most experts do not rule out that in the near future the flagship crypto asset may adjust to the $10,000 mark, which will become a springboard for the development of a stable bullish trend.
However, the crypto community continues to positively assess the short-term prospects of bitcoin. Consensus forecasts indicate that investors expect quotes to grow closer to $19,500 by the end of January 2023.
