As it turned out by December 27, the trade-off for Bitcoin’s (BTC) 61% climb in November from about $67,000 to above $108,000 was an almost complete lack of a ‘Santa Claus’ rally ahead and during Christmas, which resulted in the coin changing hands at $96,273 at press time.
BTC 6-month price chart. Source: FInbold
Indeed, BTC performance in the last 7 to 10 days has been so lackluster that numerous cryptocurrency and on-chain analysts have started forecasting a significant plunge for the digital asset, even if many of them still see a longer-term rally.
Analysts forecast Bitcoin flash crash as BTC rejects breakout above $100,000
A major trigger for the bearish prediction has been Bitcoin’s recent inability to find a stable footing above $95,000. The world’s premier cryptocurrency has spent much of the last week trading roughly in the range between $92,000 and $99,000 though most of the trading has been closer to the lower bound.
Such a trend prompted Tone Vays, a
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