Bitcoin Falters and Analysts Speak Out

Bitcoin continues to falter at the close of 2021, but analysts are convinced that the token can recover. At press time, Bitcoin was down a fraction of a percent, falling over $500 from its 24-hour high, sitting at just under $49 thousand. A collection of analysts, however, are ready for Bitcoin to rebound. Michael Van De Poppe believes that bottoming out takes time, noting on Twitter ($TWTR@US) that he thinks Bitcoin is close to bottoming out, and there will be a much more robust cycle in 2022. Kaleo took to Twitter to express surprise over Bitcoin’s fall on Friday morning. Altcoin Sherpa is bullish on Bitcoin but admits that it will sit within this low range for even longer. Justin Bennet, however, was the most measured in response to Bitcoin’s woes, noting that 2021 has been a year of consolidation for Bitcoin, which has been amplified by China Evergrande’s ($EGRNF@China) collapse.