As a seasoned crypto investor with a decade of experience navigating this wild ride, I must admit that the recent Bitcoin dip has given me a familiar feeling of déjà vu. The market is always unpredictable, and even the mighty BTC isn’t immune to these corrections. However, I’ve learned to view such dips as opportunities rather than reasons for panic.
Initially, Bitcoin (BTC) dipped, momentarily dropping below the $100,000 mark, but subsequently rebounded to reach $101,600.
Bitcoin saw a steep drop, reaching approximately $98,760 and losing almost $10,000 from its latest record high of $108,000. This substantial decrease has sparked worries that more declines might occur as the market encounters heightened selling activity.
The Federal Reserve’s cautious stance on future rate cuts contributed to heightened market volatility, impacting Bitcoin and other risk assets.
On Wednesday, a 0.25% reduction by the Federal Reserve on interest rates from 4.25% to 4.5% resulted in Bitcoin plummeting by approximately 5.6%, temporarily dipping below $100,000 – this represented the most significant one-day decline since August 5, when it dropped by 7%.
As a crypto investor, I’ve witnessed Bitcoin testing the $100,000 mark once more on Thursday, but it’s shown a slight recovery, now sitting at around $101,600. The positive vibes in the market are fueled by a pro-crypto president-elect and proposals for a national Bitcoin reserve. However, there’s still some uncertainty regarding regulations that we need to keep an eye on.
In the past day, a drop in prices led to the selling off of over $104 billion worth of highly-leveraged crypto investments. This event resulted in more long investors suffering significant losses (rekt) compared to those who had short positions.
Currently as I type this, the value of Bitcoin stands at approximately $98,317, representing a 5.5% decrease from its previous levels. Within the past day, Bitcoin’s trading range has been quite dynamic, fluctuating between a low of $97,032.30 and a high of $104,759, demonstrating increased market volatility.
Read More
- PYTH PREDICTION. PYTH cryptocurrency
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- Paul Atkins to Replace Gary Gensler as Next SEC Chair?
- As Lindsay Lohan And Lacey Chabert Headline Christmas Movies, These Comments Have Me Convinced A Mean Girls Holiday Movie Reunion Needs To Be Next
- India signals no fixed timeline for crypto rules, calls for global alliance
- Taylor Swift Calls Eras Tour “Most Challenging Thing I’ve Ever Done” at Final Show
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Niels Arestrup Dies at 75, Iconic Actor Was a Force of Cinema
- Ben Affleck And Matt Damon Are Back To Work Together, And An Insider Weighed In On Their Longtime Connection
- Apple Lands Anya Taylor-Joy Led Drama ‘Lucky,’ Based on Bestseller
2024-12-19 23:32