Bitcoin Is Struggling to Maintain $47,000

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Coinbase

Bitcoin on December 14 sought hints from the US Federal Reserve. Markets eagerly awaited policy news. Data aired that when Wall St. Opened on December 15, BTC/USD continued at $47,000.

The pair hit a local high of $48,785 on Bitstamp overnight; It then fell 3% ahead of a critical Fed meeting. The FOMC will begin discussions at 14:00 Eastern time; This includes inflation, expectations-focused interest rates, and declining asset purchases.

In the minds of analysts, first and foremost, is the hawk attitude, which potentially causes pain to asset risk holders in the short run if the Fed’s approach becomes less liberal.

Markets are moving forward. Especially crypto because it is not under anyone’s control. It is the alone free-market port in the world. The Fed continues to increase its balance sheet, albeit at a reduced pace. The smart money was made last month—slow money – this week. Traditional markets were unmanageable. The S&P 500 fell 0.22% in the day.

As Cointelegraph reports, 2022 will be the peak of the market cycle for both BTC and Altcoins. The panic and defensive attitude towards BTC is now extreme. However, in reality, the situation is not at all extreme.

Over the years, BTC has crossed 30-40% in Bull Markets several times. $BTC -53% last May -38% is not extreme. Rekt Capital has already noted that final above $42,300 still produce a higher-than-expected small of BTC/USD.

Fears and Expectations

The mood in the Altcoin markets was more pronounced towards the downturn. In the top ten cryptocurrencies by market capitalization, except Solana, was in red daily. Dogecoin managed to secure about half of its 25% profit from Tesla advertising.

On Tuesday, the crypto fear and greed index was at 28/100, up from 21/100. It is a transition from extreme anxiety to fear within your range, reflecting Bitcoin’s recent moves.

It seems that some experts do not expect any notable changes by the end of the year. However, many believe that the peak of the Bitcoin crisis period was already at this stage, and we should expect positive currency dynamics early next year.

Both investors and traders are less prone to risk. Each of them expects digital currency prices to stabilize. This confusing figure casts doubt on the opinions and expectations of experts. No one knows how events will unfold. However, variability is an integral part of the trading sector. Now one of the main focuses is on the final price of Bitcoin and other Altcoins at the end of the year.

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