Focus on Fed Policy! Analysts agree on a solid year-end for Bitcoin.

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. year. The results were in line with external expectations. The uncertainty disappeared from the market, dragging the US commodity markets. Yields have returned and Bitcoin's performance has not disappointed 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 expectation can prove disappointing as gains remain low after hitting an all-time high of $ 69,000, but even so, traders are always full. no stress, above all. Analysts now consider the current price of Bitcoin to be 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 it took many more increments, this uncertainty has already been eliminated.

As a result, MICA Research guarantees that investors will use the money to buy assets because of the long term benefits. . purchase.

There is product support of around $ 46,500.

Options trader and Twitter user John Wick recently provided more detailed information on Bitcoin price movements and released a report two weeks ago outlining the outlook for Bitcoin activity.

According to John Wick, the recent Bitcoin price movement established a solid base in the chart above, the yellow horizontal line fell to $ 46,588, known as the level 1 base. He said: We can expect the economy not to change further. Then we hope to have a stop. This can be repeated plans in July of this year when we also have easy support for phase 1. The next phase of the market will be hot staged.

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

Meanwhile, independent market analyst Rekt Capital has also indicated that there is no need to worry too much about the current market as the divergence is not volatile for Bitcoin's all-time highs. He said Bitcoin had seen a similar retracement pattern in the bull market in the past, but rose after the fears subsided.

Cryptocurrency investor Crypto Bull God also released a statement after comparing the current price of Bitcoin with its different price in September of this year (before the new high of $ 69,000).

I didn't say what the forecast would be about, but if you compare it to the models from September of this year, you should see some similarities, ”he said.

No one knows how the product will go, but analyst Michaël van de Poppe said in a tweet that there is a big whale that continues to increase its position and become the market leader in value now. Bitcoin ultimately means it could get strong.

According to the press release, the total market value of the cryptocurrency is $ 2,152 trillion, with Bitcoin holding 41.6% of the market.