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How Long Will the Bitcoin Drop Continue?

Crypto Mining - After the last rise of Bitcoin (BTC) in mid-October, it is likely to reach $100,000 by the end of 2021.
How Long Will the Bitcoin Drop Continue?

Crypto Mining - After its last rise in mid-October, Bitcoin (BTC) is likely to reach $100,000 by the end of 2021. Bitcoin felt its sharpest falls of all time in early December and is currently trading above $40,000. Shiba Inu, Dogecoin (DOGE), and HUH Token stand out as altcoins that aim to compete with this giant coin and have serious daily volume.

Bitcoin became the world's most widespread and accepted first cryptocurrency. Using decentralized Bitcoin and blockchain, people can directly and securely transfer digital currencies to each other over the internet. Any two people anywhere in the world can transmit Bitcoin to each other without involving a bank, government, or other financial institution.

As Bitcoin holders remain bullish on the digital currency, many central banks and major financial institutions have also come to believe in Bitcoin, providing their clients with the opportunity to trade or invest in Bitcoin through exchange-traded funds (ETFs) and other types of exchanges.

bitcoin trend chart

Bitcoin fell short of predictions!

It has been heavily speculated by experts, and pricing algorithms have predicted that the Bitcoin price could hit as high as $120,000 by Christmas 2021. This represents a gain of around 100 percent of the current value of the original cryptocurrency. Earlier this year, El Salvador made Bitcoin the official currency of the entire nation, and for the first time in history, and in the United States, the mayors of Jackson, Tennessee and Tampa, Florida have pledged to convert their next paycheck to bitcoin.

Mayors supported Bitcoin!

It was the Mayor of Miami who started this trend, and it was followed by Eric Adams, the elected mayor of New York. Just last month, on November 5, a measure aimed at allowing Brazilian employees to be paid in bitcoin was brought before the country's lawmakers, who will consider it.

A recent report by the U.S. Securities and Exchange Commission shows the potential for cleanup of Bitcoin futures ETFs contributed to Bitcoin's price surge. Federal Reserve Chairman Jerome Powell said in a recent statement that the United States is unlikely to ban Bitcoin or other legal cryptocurrencies.

This statement calmed many of Bitcoin holders' biggest concerns and helped maintain investors' confidence in the cryptocurrency. Recent monetary policy initiatives by the US have stirred things up, and when paired with a growing government deficit, there is a danger to the long-term viability of US fiat currency. Bitcoin has the potential to serve as both a tool to accumulate wealth and a bet against the dollar's fall.

In Bitcoin, the target is still 100 thousand dollars!

While it is impossible to predict when fear, uncertainty, and doubt will appear in the news, if no major negative events occur, according to some analysts, Bitcoin could be on its way to $100,000 by New Year's Eve.

Another digital currency with an upward trend appears to be the HUH Token. HUH is 'Utimeme', a digital currency that combines Token, utility, and meme potential. The person who buys the HUH Token can forward the reference code he obtained after purchasing the token to other people and can ensure the right to receive a 10% reward on the first purchase of the other people who buy the HUH Token. Depending on the exchange that is decentralized or centrally used for the transaction, this 10% reward is allocated as Binance Coin or another digital currency. This is important as this referral allows users to own multiple types of cryptocurrencies and not only generate passive income, but also improve stability in these wallets.

When analyzing a new cryptocurrency, stability and security are essential to a successful project. HUH, Token has set aside a large amount of liquidity for liquidity compared to other budding projects. With $1 million of liquidity locked for at least two years, secure trading will be allowed between the two exchanges (Uniswap and PancakeSwap) where the token will be accessible.