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What market analysts have to say about Bitcoin’s falling price?

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Bitcoin’s price has been dwindling for quite sometime. This weekend, its price stayed between ($33,000-$35,000), with an average of $32,000. Market analysts say that Bitcoin is struggling to keep its price up.  However, other cryptocurrencies like Chainlink and Aave are continuously rising upward. 

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According to analysts, this decline in price due to increased selling pressure from Asian countries (from January 20th). In other words, institutional exhaustion. 

Some people are finding a silver lining in the current situation too. They believe that this coin’s price will reach $100K by this year’s end. Willy Woo thinks that  Bitcoin’s SOPR (Spent Output Profit Ratio has seen a downfall.  Investors want to sell their assets, even for a loss, which is less likely to happen. 

It’s an interesting situation, and investors have to see if Bitcoin ever recovers from this position.

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