The analysts at Zaye Capital Markets stated in a report on December 2nd that the lingering concerns over the ongoing consolidation of Bitcoin may lead to further declines before a rebound occurs.
Buoyed by the prospect of US President-elect Trump being more crypto-friendly in regulation, Bitcoin had previously reached a historic high of $99,830. However, as the initial momentum from Trump's election victory has faded, the price of Bitcoin has also retreated. (Jinshi)