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It seems that all the illusory and exorbitant forecasts of many analysts and crypto enthusiasts are not destined to come true. Bitcoin will not be able to overcome the $100,000 level by the end of this year.
Now digital gold is associated with panic and fear among investors, and there are many speculators on the market. It is very difficult for Bitcoin to hold the $47,000 milestone, and the Fed is increasingly pumping horror into the crypto market and the main cryptocurrency.
The Fed will pay special attention to inflation, the crypto market, interest rates, as well as reducing asset purchases. Analysts are confident that the Fed will be very tough on investors and will take an uncompromising hawkish position.
Adhering to hawkish views, the Fed will increasingly raise interest rates and spoil the life of cryptocurrency owners. There is uncertainty and panic in the market right now.
Bitcoin continues to fall and has already lost more than $20,000 from its historic high in November. The Fed's tough stance and bear market can lead to disastrous consequences for Bitcoin, and then the entire altcoin market.
However, many analysts are confident that Bitcoin will survive this. Trader and analyst Rekt Capital believe that Bitcoin will pull through. It has already fallen by 40% before and even with a bull market, and now 38% will not become something supernatural for digital gold.
If Bitcoin is trading above $42,000, then we can still talk about a favorable environment for it.
The altcoin market is declining even more than Bitcoin. Well-known crypto analyst Michael van de Poppe believes that the market is getting rid of unnecessary elements. Speculators sell their crypto assets for quick profit due to the fear of an even greater fall, but they are not prudent and do not rely on the future.
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