Bullish traders who projected the “to $ 100,000 by the end of the year” are now coming to terms with the fact that there may not be a Santa Claus rally by the end of 2021. For the moment, the chimera has morphed into mere hopes that the Top cryptocurrency can at least finish the year above $ 50,000.
Data from Cointelegraph Markets Pro and TradingView shows that the rebound in price seen following comments from Federal Reserve Chairman Jerome Powell has practically evaporated and in the last 48 hours the price has reached new lows of $ 45,500. And from the looks of things, the price could go down even more.
4-hour chart of the BTC / USDT pair. Source: TradingView Here’s a look at what traders think of the current Bitcoin price action and what might be in store for the remainder of 2021.
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