YouTube analyst Crypto Banter predicts that Bitcoin is still on an uptrend despite a false SEC announcement and Gary Genslerโs clarification.
The analyst reveals the market hates uncertainty, which has led to the choppy Bitcoin price.
When considering whatโs next, the analyst, joined by guest Jason Pizzino, shares in a Jan. 10 video that although the BTC market might see a correction, it doesnโt mean the market is going below $30,000 to $32,000 since the market has seen 22% corrections on its way up.
Therefore, for the market to go under $32,000, it would have to do a 35% correction, so although it isnโt impossible, the market has been relatively stable, suggesting a drop like that would be very different from what it has done in previous histories.
โThe trend is still up as crazy as it seems,โ Pizzino said.
Although the price is still up when looking at percentage, itโs been up from Dec. 5. Itโs only 2% different from the top to the current closing price. The analyst states that although the market major swings backward and forwards for the last 36 days, or five weeks, the price isnโt that far off from the top.
When writing, Bitcoin (BTC) is at $46,532, a 0.3% decrease in the last 24 hours.
