Bitcoin failed to cross $17, 000 by the end of 2022 when a strong resistance zone formed.
On Wednesday night, January 4, BTC fell to $16, 656, shrinking the market capitalization of the largest digital coin to $3, 206.42 billion. bitcoin fell 3.6 percent in December, according to CoinGlass.
Last November, the value of BTC fell 16.23%; as in 2021, the past two months have been bad for cryptocurrencies as the stock market experienced strong capital outflows.
However, November and December 2020 ended with BTC up 42.95% and 44.92%, respectively.
Trading in the U.S. closed last Tuesday and the digital currency market continued to adjust as the Nasdaq and Dow Jones Business Activity Indexes fell. Ether (ETH) fell to $1,211, while Binance Coin (BNB) dropped to $245.5.
Many analysts expect the bearish trend in the cryptosphere to continue until at least the end of 2023.
For example, QCP Capital believes that bitcoin will suffer the biggest losses in the coming months; trading activity has weakened since mid-December, which indicates a hesitancy to move to digital assets amid global uncertainty. Not all results are available for download. Repeated retries…