The Bitcoin price may be down, but fundamentals have never been better. What should BTC traders expect in the first week of January? (Reporting via WilliamSuberg)
After ending December at $47,200 — far below the majority of bullish expectations — the largest cryptocurrency has a lot to live up to as signs of a halving cycle peak remain nowhere to be found.
With that said, central bank policy is widely tipped to provide a potential cat among the pigeons in the coming months. The U.S. Federal Reserve has signaled two interest rate hikes this year, and the market’s ability to absorb them is seen as a key test for asset performance. Edwards said that while such circumstances are generally “good” for Bitcoin, upheaval further down the line would likely mean that stocks take a beating in the long term thanks to the rate hikes.
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