Altcoins

Bitcoin & Altcoins are Causing Pain for Crypto Traders Right Now! Will Bulls Enter the Ring?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Dec 30, 2021

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Highlights

    Bitcoin price attempts for a recovery yet appears to be hovering around $47,000 levels yet again

    Most of the altcoins are attempting a recovery yet have a pretty long way to go to reach their immediate resistance levels

As 2021 has reached its climax, many cryptos are trying very hard to buckle up to manifest a decent uptrend. But when the most dominant crypto Bitcoin is going on very passive right now swinging around $47,000. And hence the entire market remains uncertain without having a clear picture of ending the yearly trade of 2021.

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The BTC price has dipped a little but the impact is macro-wise, however, there has been no significant trend change. The asset is just consolidating inside the two Bull Market EMA’s which are the 21-Weekly EMA and 50 – Weekly EMA in between $45,112.50 and $51,705.11. And hence it appears that BTC has developed a new higher low within the current EMA range. 

On the other hand, numerous negative scenarios also table with macroeconomics risks looming driven by Omricon, tax narrative, and the gradual interest rate increase by the FED for 2022. And hence the time has come that the whales and the bulls are required to get back into the ring to overcome the above constraints. Maybe the asset could make a huge move as one of the whales has just woken up from a long sleep. 

Some think this address could be of one of the veteran miners while some feel, the whale may fall trapped for FUD to panic sell at a discounted price. While some say that the coins were mined and stored in the wallet without any movement till now. Interestingly, the wallet received the first reward of 50 BTC per block. 

However, this move has created many speculations within the market as the whale could have awakened to create a FUD. So that the Bitcoin(BTC) price falls to lower levels to buy some more and HOLD. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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