Market Outlook: Bitcoin Fluctuates Horizontally After Profit Taking

Forex - Bitcoin has slightly risen but remains below the $100,000 level following its recent consolidation at record highs. Currently, Bitcoin is trading at $94,320, reflecting an increase of 0.5%. The cryptocurrency reached a record high of $108,379 on December 17. The positive stance of newly elected President Donald Trump toward cryptocurrencies has revitalized the crypto sector, leading Bitcoin to rise from a closing price of $67,077 just one day before the presidential elections on November 5. Bitcoin has increased by 124% since the beginning of the year. Some analysts expect the recent pullback to be short-lived, with the next target being $150,000.