Bitcoin saw positive price action recently but failed to follow through and could remain rangebound for December. The cryptocurrency rose from a new yearly low at $15,500, and market participants were expecting further profits, but the market has stalled. Related Reading: TRON Ecosystem To Undergo Changes – A Bane Or Boon To TRX Price? As of this writing, Bitcoin is moving between $16,900 and $17,100. The cryptocurrency still maintains profits from its previous week, but today’s trading session has leaned towards the downside. No Christmas Miracle For Bitcoin? In a recent market update, trading desk QCP Capital highlighted the positive performance of Bitcoin and Ethereum in December. These digital assets have been closely following the trajectory of the stock market. The firm believes equities have been showing strength on the back of a potential U.S. Federal Reserve (Fed) pivot. The financial institution hinted at moderating its monetary policy and reducing its interest rate hike program. This potential change triggered “strong” bullish momentum for the stock market, allowing Bitcoin and Ethereum to rise 13% and 22% in the past two weeks. Despit ..
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