Here’s Why Analysts Think Bitcoin Will Rally Towards $17,000 by EOY

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Bitcoin’s price has been caught within a consolidation phase around $13,000 ever since it was rejected at its recent highs of $13,200 This is around the price at which it has been trading throughout the past few days, with buyers and sellers being unable to take control of its near-term trend Yesterday, bulls did attempt to set fresh yearly highs and kickoff a leg higher, but it resulted in a rejection This shows that buyers don’t currently have enough support for another push higher One analyst explained that a push towards $17,000 could be just months away, but it may first see some consolidation Bitcoin and the aggregated crypto market are consolidating following Bitcoin’s recent rejection at its yearly highs. The cryptocurrency has been unable to spark any sustained moves past $13,200, signaling that the selling pressure here is significant and may continue slowing its ascent. Despite its short-term trend…

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