On December 5th, Nigel Green from deVere Group, a prominent financial consultancy, highlighted the potential for a **short-term sell-off** in Bitcoin following its recent breakthrough of a crucial psychological threshold. He indicated that the **rapid price surge** might prompt some investors to secure their profits, although such declines are often transient. According to Green, Bitcoin’s underlying **momentum** remains strong, with projections suggesting that it could reach **$120,000** within the first quarter of next year.
This bullish outlook is underscored by the market’s anticipation of a **more favorable regulatory environment** for cryptocurrencies, especially with the prospect of a Trump administration. Investors appear optimistic regarding a supportive approach from the U.S. President-elect toward digital assets. As regulatory clarity emerges, it could enhance institutional confidence and drive further **capital inflows** into the cryptocurrency sector, reinforcing Bitcoin’s market position.
Source: https://en.coinotag.com/breakingnews/bitcoin-set-for-short-term-sell-off-amidst-surge-but-poised-to-reach-120000-with-trump-2-0-regulatory-boost/