The start of December has disappointed many bitcoin hodlers who thought BTC would be halfway to $30k by now. For skeptics, it’s been a breath of fresh air (though I’d suggest inhaling deep on this one if history serves as any guide).
At the time of writing, BTC is down over 6% from its new all-time high with several short-term indicators working against it. But that’s normal, that’s what’s supposed to happen. Bitcoin reacted similarly after putting in a new all-time closing high back in Feb. 2017; it fell more than 20% over the following four weeks before reversing course towards new heights.
“Declining market volatility, easing financial conditions, and a weaker USD” are all fodder for bitcoin’s “goldilocks” environment, as noted in our latest Bitcoin Outlook.
Bitcoin’s recent price top also happened to coincide with the:
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