Wednesday, June 12, 2024

As stocks and crypto markets prepare for this week’s FOMC meeting, the price of bitcoin falls below $47,000.

In the month of November, Bitcoin saw a drop that scared most Bullish investors. Bitcoin dropped below 50k dollars and thus, a lot of people sold out. However, many experts recommend that people should hold on for dear life. Towards the end of November and early December, Bitcoin did show some hope. It went up a bit in price. That stoked hope among bullish investors and crypto enthusiasts. Of course, the trend in all investment sectors agrees with the drop in Bitcoin. Businesses slow down due to the holiday season and many people withdraw their investments to spend during the holiday season. Predictions from experts started coming in that Bitcoin might even cross 60k dollars next year. Yet, today, BTC saw another steep drop that has scared a lot of bullish investors.

The situation today

As of today, Bitcoin has dropped below 47k dollars. Many experts are still reassuring bullish investors to hold on so that the situation can be turned around. Moreover, another Twitter crypto expert has pointed out the similarities seen between the dip back in September and this one. Data suggests that there might possibly be a steep rise in the coming future. As the new year rolls around and businesses pick up speed, this speculation made based on the data might just manifest.

Conclusion

For bullish investors, it is up to them whether to pull out or hold on. However, even stocks and altcoins are seeing dips. So, BTC will probably pick up pace in value once 2022 rolls around.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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