Fed policy repeal and analysts have been optimistic about Bitcoin's "big disaster" by year-end

The US Federal Reserve (Fed) announced this morning that it plans to accelerate the purchase of the contract and end the purchases in March of next year. The annual results are based on external expectations. US commodities rose due to the lifting of market uncertainties. The performance of Bitcoin did not disappoint investors.

According to market data from TradingView, after Fed Chairman Jerome Powell said the price of Bitcoin rose from $ 47,000 to a near-term high of $ 49,000, reported at $ 48,784 at the time. of the post, and Ethereum also returned to the $ 4000 level.

While many expect Bitcoin to hit $ 100,000 before the end of the year, that 'wait' could turn into a 'disappointment' as earnings remain low after the record $ 69,000 strike. Traders haven't been frustrated yet either. Most analysts now view the price of Bitcoin as the best buy.

As the Fed has clear indications for the coming year, it is good to understand the outlook from market analysts on Bitcoin market sentiment.

First, analysts at MICA Research, a cryptocurrency research group, believe that even if the Fed announces a rate hike this time around, the value of risky assets will continue to rise. Although more stringent measures were taken to raise interest rates, this uncertainty has been dispelled.

From there, MICA Research decided that investors would reinvest their money to buy real estate because of the long-term financial viability that surrounds it. financial purchases.

There is product support of around $ 46,500.

A Twitter user and stock trader named John Wick provided more detailed information on the recent Bitcoin price movement and published a report on the Bitcoin market two weeks ago.

According to John Wick, the price of Bitcoin has recently formed a "base of support", the yellow horizontal line has fallen to $ 46,588 in the figure above, which is the pattern referred to as "level one". root ". he says:

Market volatility can be expected to increase further. Then we hope to have a stop. It may be repeated plans in July of this year, and we were supported by the "Phase 1 Foundation" at the time. The next step in the market will be "gold".

After falling below $ 30,000 in July of this year, Bitcoin quickly recovered its gains in just a few days and broke the $ 40,000 mark in just one week.

Market volatility is inevitable

On the flip side, independent market analyst Rekt Capital also commented that there is no need to worry too much about the current market weakness as the difference is not changing from all-time highs of Bitcoin. He said Bitcoin had seen a similar retracement pattern in the bull market in the past, but rose after the fears subsided.

Now the fears and frustrations of #BTC are incredible.

However, this -38% retracement is not the end.

Over the years, BTC has rebounded 30-40% in the bull market.

In fact, over the past five months, BTC has rebounded by -53%.

-38% is not the end #Cryptocurrency #Bitcoin

- Rekt Capital (@rektcapital) July 15, 2021

Cryptocurrency investor Cryptocurrency Bull God also posted the following, in which he compares the current price of Bitcoin with its different price in September of this year (before the new high of $ 69,000). .

“It's not that these predictions have happened, we should be looking at a similar comparison against September of this year,” he said.

No one knows how the product will go, but analyst Michaël van de Poppe said in a tweet that there are big fish that continue to increase their status and enter the copy market at the current price. Bitcoin could end up strong.

Whales enter the market by buying in the area.

Sales in the market suck.

Details.

- Michaël van de Poppe (@CryptoMichNL) 15 November 2021

At the time of going to press, the current total market value of the cryptocurrency is US $ 2,152 trillion, and Bitcoin has registered a 41.6% market share.

In this article, Fed policy analysts agree that Bitcoin's year-end “hard shutdown” could be the first of its kind on the blockbuster.