Bitcoin drops 1.7%, forecast to reach $70,903 by year-end

Bitcoin (BTC/USD) traded at $86,944 on Tuesday, November 12th, reflecting a decline of $1,530, or 1.73%, from the previous trading session.

Bitcoin drops 1.7%, forecast to reach $70,903 by year-end

Over the past four weeks, the cryptocurrency has experienced a significant drop of 38.44%, reflecting heightened volatility in the market. However, on a longer-term basis, Bitcoin’s price has surged by 138.22% over the past 12 months, driven by growing investor interest and broader adoption of digital assets. Looking ahead, analysts and global macro models from Trading Economics project that Bitcoin will likely settle at around $70,903 by the end of this quarter.

Bitcoin projected to fall to $62,495 amid market uncertainty

Expect further downward pressure over the next year, potentially reaching $62,495. Ongoing market uncertainties, regulatory developments, and potential shifts in investor sentiment toward riskier assets influence these projections.