Bitcoin Price Today, Has Bitcoin Bull Run Ended?

Bitcoin Price Today, Has Bitcoin Bull Run Ended?



The price of Bitcoin (BTC) has fallen to $97,000 today, whereas just a few days ago it was seen at a record high of $103.9K. This growth continued for a long time and Bitcoin crossed the $100K milestone twice this month. But, the price of Bitcoin has declined in recent times and the question arises whether Bitcoin Bull Run Is over. The crypto market is declining rapidly and now investors are worried whether there will be a further decline in the market or is it a temporary recession.

Bitcoin Worth Motion and Wave Tendencies

Bitcoin had seen a spectacular rise over the past few weeks, but now its value has dropped from $97,000 to $96,780, which translates to around ₹82,11,337 in Indian Rupees. The price of Bitcoin has fallen by 2.75% in the last 24 hours. Bitcoin’s market cap now stands at around $1.91 trillion, but its trading volume has seen a 118% increase in 24 hours, indicating that there is still a lot of volatility in the market.

Is the Bitcoin Bull Run over?

Now the question is, is the Bitcoin Bull Run over or is it just a temporary recession? There are many factors that could have driven this decline, but some signs suggest that this is not a long-term recession.

Major causes and events:

  • Large liquidations and trading volume: According to the data, 204,384 traders were liquidated for $509.48 million. Additionally, the Bhutan government sold $40 million worth of Bitcoin to QCP Capital, putting further pressure on the market.

  • Ethereum And the fall of other cryptocurrencies: At the time of this decline, Ethereum also briefly touched $4,000, but later fell by 3%. This indicates that there was selling pressure in the entire cryptocurrency market.

  • Bitcoin Choices Expiry: Many investors are worried due to the expiry of 39,960 Bitcoin Choices Promises on December 27. This has increased the concern of further decline.

  • Signs of Altcoin Season: Although Bitcoin has declined, some experts believe that this could be the beginning of an “altcoin season”, in which smaller and less prominent cryptocurrencies may rise in the market. Altcoin Season Index has dropped from 86 to 73 this month.

Is it still worth investing in Bitcoin?

This is a time of uncertainty in the market, but it can also be a good opportunity for investors. A decline in the value of Bitcoin can also be an opportunity, especially if you want to invest for the long term. Bitcoin worth may increase again in the future, especially when the results of the next economic reports and meetings of the US Federal Reserve are revealed. It’s also worth keeping in mind that Bitcoin has long-term growth potential, making it attractive for long-term investment.

Conclusion

Bitcoin has faced some decline recently, but despite this, there remains a possibility that a new bull run could come to the market soon. This may be the time for investors to buy Bitcoin at a reasonable price. Bitcoin has long-term growth potential and could be the right time if you want to invest for the long term.


Also read:MemeFi Day-to-day Codes For November 15, Earn Virtual Coins


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