Bitcoin falls below $94000! Christmas trend forecast, micro strategy may not be able to protect the

Falling endlessly

After experiencing a sharp drop on Friday, the Bitcoin and cryptocurrency markets showed signs of bottoming out and rebounding on Saturday. Bitcoin briefly rebounded to the level of $95000, but on Sunday it hit the trend line that had already turned into pressure and began to weaken again. At the time of writing this article, the price fell to $94500. In the past 24 hours, a total of 101689 people worldwide have been liquidated, with a total liquidation amount of 261 million US dollars.

Horizontal trend mainly around Christmas

As GTRadar mentioned in last week's weekly report, Bitcoin is unlikely to have a so-called 'Christmas' market during the Christmas period, meaning that Christmas has little impact on the rise and fall of Bitcoin. However, it is worth noting that during the Christmas and Lunar New Year periods, the market is mostly in a sideways state and there is almost no one-sided trend. This may be a good opportunity for investors to bet on ups and downs, but at the same time, they should avoid irrational trading caused by ups and downs.

There may not be any micro strategies in the next 4-6 weeks

An interesting observation recently is that our Bitcoin major buyer, Micro Strategy, has announced additional purchases of Bitcoin on Mondays for several consecutive weeks. On Sunday evening, the founder of Micro Strategy posted another suggestive article. Therefore, tonight he may announce the news of Micro Strategy's acquisition of Bitcoin again.

However, the micro strategy is about to enter the 'Blackout Period' before the release of financial reports. During this period, the company and management may face compliance risks when purchasing Bitcoin, and even if regulations do not explicitly prohibit it, they may choose to avoid the black screen period in practical operations.

In other words, regardless of whether the purchase of Bitcoin is announced tomorrow or not, Micro Strategy may not be able to make any further purchases of Bitcoin in the next 4-6 weeks. Although the news of micro strategy buying Bitcoin does not directly push up the price of the currency, the lack of a giant whale that can withstand market supply is clearly not good news for Bitcoin prices.

(This article is authorized to be reproduced from GT Radar)

About GT Radar

GT Radar Radar focuses on building long-term and stable growth quantitative investment portfolios, with over 10 years of experience in stock market and cryptocurrency quantitative trading. The trading system integrates over 150 strategies, aiming to provide extremely high adaptability and resilience, ensuring the most robust way to obtain profits from the market.

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