After hovering above $ 50,000 on Christmas Day, () faced selling pressure on December 26. One of the reasons for the possible fall in the price of Bitcoin is the increase in entries on the Binance exchange. Data analytics account Material Scientist said Binance’s entries could be due to “a new player.”
While Bitcoin is almost certain to miss PlanB’s floor model price projection of $ 135,000 for December, the creator of the stock-to-flow pricing model remains bullish. He said that Bitcoin’s price at $ 51,000 remains within one standard deviation of the model, keeping the forecast of $ 135,000 for this halving cycle in play.
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Daily view of cryptocurrency market data. Source: Coin360 Several asset managers have added Bitcoin to their portfolios in 2021, but former UK Chancellor Lord Hammond has warned retail investors to be “extremely cautious” when investing in cryptocurrencies. He said that “it almost certainly is not. suitable for retail investors as a primary investment category. “
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