During the last days of 2021, Bitcoin still showed the movement that was expected from it. We are talking about a correctional wave c to b. It can be recalled that the entire recent decline takes a distance of $ 27,000 and there was not a single upward pullback that could be considered a corrective wave within its framework. Since the whole decline is now also considered a correctional structure, and there are no correctional structures from one wave, a correctional wave b was needed, so that the decline would resume later. This is exactly what happened on December 27, when an unsuccessful attempt was made to break through the level of $ 52,005, which corresponds to 38.2% Fibonacci. The instrument immediately rebounded downward and began building a new downward wave, which now has excellent prospects of becoming wave c, which will take the first cryptocurrency down almost to the level of $30,000. In general, we expect Bitcoin to further fall and do not agree with the PlanB analyst (as well as many others), who believe that it will always grow.
- Billionaire Ray Dalio has completely praised Bitcoin again
Ray Dalio, who is the Co-chief investment officer of the investment fund Bridgewater Associates, wrote a whole book, in which he paid a lot of attention to the world's first cryptocurrency. According to him, investors should allocate 1-2% of net profit for Bitcoin at this time. He noted that competition in the cryptocurrency market has grown noticeably in recent years, as more and more people want to join and spend a significant amount of resources on it. In his book, Dalio explains in 550 pages why Bitcoin's capitalization will rise to $ 10 trillion. Many perceived the billionaire's work as an advertisement for cryptocurrency. However, the billionaire also indicates certain problems that this digital currency may face in the future. For example, states may continue to ban cryptocurrencies, or there will be some alternative to Bitcoin, which might be a new technology that will simply displace it from the market and reduce its popularity.
Nevertheless, most analysts are still inclined to believe that the upward trend still persists and Bitcoin will be able to return at least $ 60,000 by the end of winter. Some believe that cryptocurrencies can even update their highs. This is due to institutional investors' high interest in buying Bitcoin, the lack of large sales from long-term investors, and the absence of a negative news background.
A new downward trend section of the trend continues to form, no matter who says what. At the moment, only one downward wave can be seen, and there should be at least two of them and a correctional wave between them. Therefore, we expect the instrument to decline to the last low, around the level of $ 41,500. The downward trend may end around it, but such a shortened third wave is rare. The instrument can be expected below this mark. Moreover, the supposed wave b may take on a more extended form than it is now, i.e. it can turn out five-wave, which also cannot be excluded completely. After the formation of the assumed wave c is done, everything will depend on the news background. If they are negative, then the entire downward trend may try to acquire an impulsive form. This will hinder Bitcoin to update its highs for a long time.
