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The Crypto ‘Plan Remains Unchanged,’ Says Crypto Analysts

2 mins
Updated by Ciaran Lyons
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In Brief

  • Bitcoin's price dips, crypto analysts reassure followers; while some predicts highs, others expects a pullback.
  • Amidst discussions on X (formerly Twitter), crypto analysts like Jelle, with 54,500 followers, express confidence in the market.
  • The majority of crypto analysts are closely monitoring Bitcoin's price movements in anticipation of significant events, including the US SEC's decision on a spot Bitcoin exchange-traded fund (ETF) by January 10,
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A slight retreat in Bitcoin’s price within the last 24 hours prompts crypto analysts to inform their extensive followers that it’s a regular part of the market flow, urging them to stick to the long-term plan.

One analyst confidently asserts the ease of predicting the price pullback, while another anticipates new all-time highs in the coming six months.

Crypto Analysts Speculate, Remain Confident

On X (formerly Twitter), crypto analysts shared insights on Bitcoin’s recent price decline. Jelle, known to 54,500 followers, maintained confidence in the market despite the price dip.

“Riding my spot holdings higher, using the smol leveraged account to buy dips. Expecting new all-time highs by summer.”

At the time of publication, Bitcoin’s price stands at $40,805.

Bitcoin Price Chart 1 Month. Source: BeInCrypto
Bitcoin Price Chart 1 Month. Source: BeInCrypto

Meanwhile, Tyler Strejilevich informed his 89,000 followers that the price decline was clearly anticipated.

“This BTC pullback was so easy to predict even the permabears aren’t tweeting lower targets,” he declared.

Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach

The majority of crypto analysts are keeping a close eye on Bitcoin’s price and speculating around its movements in recent times. This is due to two major events coming up in the near future.

The first being, the US SEC’s decision to approve or deny a spot Bitcoin exchange-traded fund (ETF) is on January 10. Many analysts believe there is a potential for price movement in the future should this be approved.

The second, is the Bitcoin halving, in April 2024.

Meanwhile, BeInCrypto recently reported that the Bitcoin halving is also causing big crypto mining companies to start majorly speculating.

Major crypto mining companies have reportedly spent $747 million on facilities and equipment this month, ahead of the halving next year.

Read more: Everything You Need To Know About Bull Flag Patterns

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Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.
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