The volatility of Bitcoin (BTC) remained subdued in the final days of 2022, indicating that investors were in no hurry to enter the markets.
Bitcoin closed 2022 close to $16,500 and on the first day of the new year it also failed to ignite the markets. This suggests that traders remain cautious and are waiting for a catalyst to initiate the next trend move.
Several analysts remain bearish on the evolution of Bitcoin’s price in the short term. David Marcus, CEO and founder of Bitcoin startup Lightspark, stated in a blog post Dec. 30 that he doesn’t believe the bear market is going to end in 2023, or even 2024. He hopes it will take time to regain consumer confidence, but believes the current restart can be good for legitimate businesses in the long run.