Bitcoin drops 1.3%, outlook predicts further decline

Bitcoin (BTC/USD) traded at $95,714 on Wednesday, January 8th, marking a decline of $1,257 or 1.30% from the previous trading session.

Bitcoin drops 1.3%, outlook predicts further decline

Over the past four weeks, the cryptocurrency has experienced a modest loss of 1.81%. However, over the last 12 months, Bitcoin has seen a significant price increase of 110.80%, reflecting its continued resilience and long-term growth despite short-term volatility. Analysts and Trading Economics' global macro models project that Bitcoin may reach $86,740 by the end of this quarter, with a further dip to $69,886 expected in one year.

Bitcoin outlook influenced by market trends and sentiment

These projections consider various factors, including market trends, regulatory developments, and investor sentiment, which could impact Bitcoin's price in the coming months.