Bitcoin during the week (Dec 21 - Dec 25)
We are glad to share with you our regular Friday’s summary on bitcoin.
Anticipating the expiry of bitcoin futures scheduled for the Christmas day, traders are expected to adjust their contracts. It means that many of them can close profit positions.
This week has been rather volatile for bitcoin diving from $22.000 and soaring to $24.000. As the probability of future delisting of XRP by leading exchanges increased, the BTC price gained dominance.
Many experts (for example, JPMorgan) described the flagship currency as overbought and predicted correction. Some other analysts expect the same because the holiday season may lead to a downside of Bitcoin. A notorious speaker Nouriel Roubini has been skeptical regarding the future rise of bitcoin and denied a currency status for it.
At the same time, there are bullish voices, such as CryptoQuant provider’s CEO Ki Yong Ju, who believes that “BTC will break $25,000 without retesting $21,000.” Mike Novogratz says that bitcoin “now is an institutional product.”
Meanwhile, the main challenge for the BTC price is to make fly above $25.000 and consolidate there.
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