The post Bitcoin Price To Drop Below $40K By January End appeared first on Coinpedia Fintech News
Bitcoinhyper opened up about the approval of Bitcoin’s ETF, which got everyone excited. However, the market didn’t respond as expected, and there was a significant drop from $49,000. In this article, we’ll look at why this happened and discuss what could happen next.
Something interesting is that the first day of trading for the Bitcoin ETF had a lot of excitement, but in the days after, the price took a hit. This not-so-great performance is making people wonder if there’s really a strong demand for these types of products in the market.
Bitcoin was doing well, going up to $49,000, but it couldn’t reach the important $50,000 target. Instead, we saw a sudden drop of about 16%, surprising many traders. Despite the ETF approval, the market sentiment changed quickly. Retail traders, thinking the price would go up, were caught off guard by a correction. Interestingly, liquidations
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