@BOMBERuss 20 December 2021 more from that month

What should we expect from Bitcoin's behavior at the beginning of next year? The reason for the fall of BTC may be China. The day before, analysts noticed that particularly strong pressure from sellers of the first cryptocurrency is observed from Asia. There, we recall, the accounts of Chinese residents should be closed by the end of December. This means that investors may well get rid of their own cryptocurrency savings (Scr 1). However, at the same time, residents of the United States and Europe replenish their own stocks of coins (Scr 2). The combination of the actions of major players has caused many individual investors to now hold bitcoins and altcoins purchased at a loss on their account. This trend was noticeable even before the main cryptocurrency began to fall after rising to 69 thousand dollars. The chain of collapses of the coin market simply tired traders who tried to buy assets at the bottom, but eventually received even greater losses. As a result, this forced them to exit the market in anticipation of a much larger collapse of the industry. The prospects of the latter, however, remain unclear. Especially considering the fact that the most pessimistic traders declare the expectation of a drawdown of BTC up to 14-20 thousand dollars. However, it is already too late to sell bitcoins. Demand for cryptocurrency is returning, and it can demonstrate at least one more wave of growth. Accordingly, many professionals who are betting on further market growth decided to take advantage of the collapse and also earned on short positions. Well, this had an even stronger impact on the market situation. The future of bears is "not as cloudless" as it was at the beginning of the month. Trying to open short positions on Bitcoin now is quite dangerous, since feeling panic in the market, many large players will start buying BTC at an "undervalued" price. In other words, if investors are not planning deals in the near future, now it is better to just watch the market and count on its growth in January. However, the US Securities and Exchange Commission (SEC) may once again "spoil the holiday": on the eve of the regulator postponed consideration of the case of two ETFs for Bitcoin. Their peculiarity is that they are based on the spot price of an asset - that is, the market price — unlike already approved ETFs, which are based on the price of Bitcoin futures. According to Decrypt, the SEC has about 45 more days to review ETFs from Bitwise Bitcoin ETP Trust and Grayscale Bitcoin Trust. After this period, the regulator may approve, reject or postpone its decision again. It is likely that the last two options can still negatively affect the market negatively - albeit to a small extent. While it may really be too early to put an end to the current bull run. Nevertheless, cryptocurrencies still show good bounces, and the market capitalization as a whole exceeds the level of $ 2.2 trillion. Accordingly, there is more than enough money in the niche, which means that investors are clearly not going to stop buying coins.