Bitcoin Faces Challenges In Reaching $100,000, Says Analyst

According to Odaily, Noelle Acheson, the author of 'Crypto is Macro Now,' has commented on the recent performance of Bitcoin, noting the challenges it faces in surpassing the $100,000 mark. Acheson suggests that the difficulty in breaking this significant price point might lead traders to believe that the peak has been reached, prompting them to lock in profits. However, she emphasizes that any such episodes should be considered 'short-lived.' Bitcoin's recent decline follows a period of heightened speculative activity in the cryptocurrency market, which began to cool after the digital currency failed to reach the anticipated $100,000 milestone. This downturn comes in the wake of the speculative frenzy that has characterized the market since Donald Trump won the U.S. presidential election. The inability to achieve this price target has led to a reassessment among traders and investors regarding the future trajectory of Bitcoin and the broader cryptocurrency market.