Analysts issued mixed reactions to BTC’s recent recovery, but many remain hopeful.
Bitcoin managed to hover above $17000, with investor sentiments remaining strong for the past few days. Though bulls expected BTC to surge over $19000, the current levels have also maintained the optimism required for the markets not to see the kind of downtrends witnessed in the previous month.
Experts believe that the worst is over for BTC, with excess liquidity being drained out and losses being maximized in November. After serious claims by experts on exchanges not maintaining enough liquidity, hordes of investors have moved their holdings to hardware wallets.
BTC/USD price chart in 2022
Bitcoin is currently trading at around $17000 on December 6, 2022, with BTC/USD up by 0.25% in the last 24 hours. BTC/USD is trading above its 20-day EMA (16,620.73), with most altcoins trading flat in the last 24 hours. With stock markets losing value in the last 24 hours owing to anticipated interest rate hikes, most analysts also issued warning calls for such effects to spill over to the crypto markets. Investors remain watchful of the situation, keeping intact the long-term perspective.