, 2022-12-28 09:31:14,
Bitcoin (BTC) circled $16,750 after the Dec. 28 Wall Street open after stocks dragged markets lower.
Bitcoin analysts stick to downside fears
After days of barely any movement up or down, Bitcoin finally saw a flicker of action as traditional markets opened after the Christmas break. Unfortunately for bulls, volatility was to the downside, with BTC/USD seeing its lowest levels since Dec. 20.
On equities markets, United States indexes improved after a weak first day, which nonetheless failed to leave much of an impression on BTC commentators, many of whom stuck to grim short-term price forecasts.
“I can’t stress this enough,” Toni Ghinea wrote in part of a Twitter update.
“The sell-off will accelerate in the coming weeks. This bear market is far from over.”
Accompanying charts showed targets for Bitcoin and several altcoins, with Ether (ETH) due a trip as low as $600.
Fellow analytics account Illiquid Markets likewise told followers to “be prepared for even lower prices in 2023,” with these to be “lower than most expect.”
Amid an absence of buyer interest, only MicroStrategy and its CEO, Michael Saylor, were on record for increasing BTC exposure.
The firm, already the public company with the largest Bitcoin…
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