Bitfinex: Bitcoin Will Fall to $30K

In early November, Galaxy Digital announced that Bitcoin was poised for a significant breakthrough, with the potential to reach peak performance after surpassing resistance at $36,000.

According to Alex Thorne, one of the researchers, there has been a surge in bullish sentiment in the crypto derivatives market, but it does not necessarily mean a sudden surge in price.

However, in mid-November, Bitcoin began to experience a decline due to profit-taking by investors. Bitfinex predicts that this trend may result in a drop to $31,000 or even $30,000.

The market is entering a phase of increased volatility, as stated in the report by the crypto company. Experts believe that the bearish scenario will prevail, as Bitcoin was unable to hold its position above $38,000 following its strongest surge since May 2021.

Analysts noted that short-term traders were the most active in selling, bringing their Bitcoin holdings to exchanges for subsequent sale.

However, Bitfinex predicts that this bearish phase will end in December and a strong growth phase for Bitcoin will begin in January or February.