Bitcoin Price: Bitcoin, the world’s largest cryptocurrency, has recorded its sharpest monthly decline in the past three years. It is a digital currency. This currency has declined by more than 21 percent this month, the largest since June 2022. This decline has caused significant losses for investors. However, there will certainly be benefits for those considering investing in Bitcoin.
Profit Booking for Investors
For your information, the price of Bitcoin has fallen sharply since the beginning of October. According to experts, investors who have invested in Bitcoin for the long term are reaping substantial profits. This decline is making no difference to them.
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Impact of Fed Rate Cut
Bitcoin offers excellent returns, especially at low interest rates. However, mixed signals from the US Federal Reserve regarding interest rate cuts in December have created uncertainty, which is impacting prices.
Investor risk aversion
Technically, losses in stocks and other assets have led to Bitcoin’s decline. Investors’ sentiment has been impacted by macroeconomic and Trump policies.
What does the market’s future say?
According to Raj Karkara, COO, Zebpay, the market will return to normal after this decline. While some investors are making substantial profits, caution is needed for the time being. Bitcoin is showing no signs of recovery after its prolonged decline.
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The expert said this
According to Mudrex CEO Edul Patel, the crypto market has witnessed a relief rally, with Bitcoin briefly rising above $89,200. The December rate cut, which saw an 81% reduction, significantly boosted investor confidence. The upcoming addition of 119,000 jobs supports a more dovish policy outlook as markets grow increasingly optimistic about potential quantitative easing. BTC is signaling a bullish setup, with the next resistance at $90,000 and support at $85,000.
