The downward pressures facing the cryptocurrency market in late 2021 have continued into the first week of 2022 after the price of () fell below $ 47,000 on January 1 and the asset is still facing big setbacks in shorter time frames.
Data from Cointelegraph Markets Pro and TradingView show that after rising above $ 47,500 to start the new year, the price of the cryptocurrency fell under pressure on Monday afternoon. Currently, the price has fallen to $ 46,500, where the bulls are now looking to mount a defense.
4-hour chart of the BTC / USDT pair. Source: TradingView Here’s what various market analysts say about the path ahead for Bitcoin in 2022 as the global economic system continues to grapple with inflation.
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