Don't Panic: Bitcoin Price Action Is 'Business as Usual'


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Given the volatility we saw yesterday, I think it might be a good time to do a simple temperature check.

We saw Bitcoin briefly drop below $90,000 on Monday, and this morning we are back above $96,000.

Volatility appears to be here to stay, perhaps until Inauguration Day. ETH, which tracks Bitcoin's movements, also fell before regaining momentum.

Then there is the top AI factor coin AI16z, which is up 21% in the past 24 hours, after bouncing back afterwards. It is subject to its own sale. Ah, the diversity of cryptocurrencies. There's nothing really like it.

The sudden drop in Bitcoin didn't exactly worry Unity Wallet's James Toledano.

“The current price action may seem alarming, but for those of us who have been in this space for a long time, it's just business as usual. This doesn't necessarily signal the end of an uptrend either,” he explained.

“We are just seven days away from the inauguration of President-elect Trump and it could be a pivotal moment, with markets anticipating announcements of pro-crypto policies that may spark renewed buying interest. Institutional accumulation, as reflected in declining foreign exchange reserves, supports the view that demand remains strong Despite the low trading volumes.

Combine that with what Ledn's John Glover told us, we might end this month with a run. Glover believes we could see Bitcoin rise by 20-30% in the next few weeks, especially considering that $91,000 looks like a decent support level.

I ask you again to be patient, especially since there is only one week left until the new administration takes office.


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