Doge Founder Expresses Somber Stance Over Bitcoin Price Swings

In early December, Bitcoin witnessed a remarkable surge, climbing from around $38,000 to over $44,000 within the span of a week. The cryptocurrency has been steadily rising, fueled by various factors, such as the anticipation surrounding the United States Securities and Exchange Commission's (SEC) upcoming decision on Spot Bitcoin ETF applications in January.

Despite the positive momentum in the cryptocurrency, BTC has recently faced a price decline from its 2023 highs of over $44,000 to levels around $40,000. This drop was attributed to Senator Elizabeth Warren's negative statements regarding crypto on Monday and a proposed bill aiming to impose stricter regulations on cryptocurrencies.

In light of the unforeseen price decline, Markus made somber remarks about BTC's recent price swings, describing the cryptocurrency as 'having a mood again'.

When asked by a member of the crypto community about what actions to take during the BTC price decrease, Nakamoto responded with a touch of humor, saying, 'Just give it space, I guess. It'll come out of its room eventually, maybe.'

As of now, the price of Bitcoin is trading at $42,968, as reported by CoinMarketCap. The recent price correction above $42,000 can be attributed to an announcement made by the US Federal Reserve to maintain stable interest rates. Shortly after the Fed's decision, BTC witnessed a price increase of nearly 5%, while Ethereum also saw a slight growth in its price.

Cryptocurrency Exchange Offers Gloomy BTC Price Forecast

The positive sentiment regarding BTC's price has been steadily increasing, driven by the recent rate announcement by the Fed and the anticipation surrounding the Bitcoin halving event scheduled for April 2025.

Contrary to recent positive price predictions, crypto exchange Changelly has forecasted a slight 0.98% decline in the price of BTC by December 15.

Changelly's forecast has indicated a bearish signal of approximately 17% for the cryptocurrency, suggesting a downward trend in the price. Adding to the uncertainty surrounding BTC's price potential, Bloomberg Analyst James Seyffart has cautioned against having excessive expectations regarding significant inflows into BTC following the approval of Spot BTC ETFs.

In contrast, numerous crypto investors have expressed optimistic predictions for the Bitcoin bull run. One notable community member, the Crypto Rover, has forecasted Bitcoin to reach a range of $150,000 to $220,000 during the bull run.