Disclaimer. Forecasts and analytics of financial markets are the private opinion of ru-crypto.com. The current analysis does not constitute a recommendation, trading guide, or investment research.
If you pay attention to the news and events of the past week, you can say that the week passed in a neutral range.
Despite this, more and more institutional investors are looking at cryptocurrencies. The cryptocurrency industry is steadily taking over Wall Street. In his year-end letter, LionTree Chairman and CEO Aryeh Burkoff highlighted the exponential growth and potential of the fledgling cryptocurrency sector. Additionally, he noted that cryptocurrencies also help those with excess cash protect their funds from inflation.
Bitcoin rate
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Bitcoin rate forecast for the week from December 20 to December 26, 2022
Bitcoin continues to move in a local downward channel and is approaching the end of the correction. Divergences and a fading decline indicate an imminent rebound to the $50,000 area, then $54,000 and $57,000.
Source: Tradingview
There are 12 days left until the end of the year and if you look at the chart, then just by this time (if not earlier) we will exit this downward channel/wedge, picture below.
Source: Tradingview
I expect in the next 2 weeks the end of the fall and the beginning of the recovery of Bitcoin and more rapid growth of Ethereum at this moment (up to the ATH update), as well as the main altcoins.
