Bitcoin price expected to enter a short-term correction period, likely to rebound to $53,000 early next year

[비즈니스포스트] As Bitcoin investors begin to seek profit-taking in earnest at an early date, it is predicted that this could lead to a decline in the market price for the time being.

However, there was continued speculation that the Bitcoin price would rebound to the $50,000 range early next year.

According to The Block, a virtual currency magazine, on the 8th, research firm CryptoQuant published a report and concluded that the Bitcoin market is approaching overheating.

As Bitcoin prices have continued to strengthen recently, more than 86% of investors have seen valuation gains, raising the possibility that sales will pour in to realize profits.

CryptoQuant said that there may be a price adjustment period due to increased selling in the short term, and that investors should be mindful of the possibility of a decline for the time being.

However, considering market trends, there was also a forecast that the price of Bitcoin could rise up to $53,000 by early next year.

Indicators such as changes in Bitcoin market capitalization, trading volume, and investor activity are supporting the possibility of an increase from a mid- to long-term perspective.

The Block added support to this outlook, saying that historically, when the Bitcoin bull market continues, there are many cases where the market temporarily enters an overheated state and undergoes correction.

Currently, the Bitcoin price is trading at $43,477 on major exchanges. It once rose to the $44,000 range and then fell slightly.

The Block said, “Numerous experts are presenting optimistic forecasts for next year’s Bitcoin price,” adding, “These factors are also having a positive impact on investment sentiment.” Reporter Kim Yong-won