With the end of the year approaching, Bitcoin (BTC) has experienced a decline, dropping to $94,646 within the last 24 hours. This ongoing downturn has affected traders’ spirits, especially as altcoins suffer even greater losses. The prevailing negativity does not indicate a strong finish to the year. What do experts predict for the prices of BTC and FARTCOIN?
Insights on Bitcoin (BTC)
BTC has struggled to maintain the $94,300 level and failed to reclaim the $100,000 threshold. Due to the holiday week, buying pressure has weakened. Despite finding support in the ETF channel, the halt in net outflows has not been enough to boost morale. For BTC to help altcoins recover their losses, it needs to convert resistance above $98,500 into a support level.
Many experts advised traders to stay on the sidelines during the holiday week since significant market movements typically require strong news support. Daan Crypto Trades echoed this sentiment in a recent evaluation.
“There hasn’t been much happening with Bitcoin lately. I’m closely watching whether we’ll reach the high or low range of $99,500 or $92,000. Until then, I doubt it’s worth trading.”
Experts anticipate a potential breakout in one direction or another, considering it an opportunity. Some believe that if BTC surpasses $102,000, it could test prices of $110,000 and $120,000.
FARTCOIN Predictions
FARTCOIN, one of the trending altcoins, has offered significant opportunities to investors following two substantial rallies. Investors who capitalized on the dips have seen satisfying profits as the price entered a buying zone before beginning to recover.
An analyst commented on the current situation: “I’m still monitoring FARTCOIN on a daily chart. I don’t expect a complete reversal and anticipate a pullback. However, I’ve added some positions here to hedge against potential errors. I will continue to watch and add to my position if necessary.”
