Bitcoin's price experienced a decline today, erasing 50% of gains noted after the FOMC meeting. This descent is expected to persist as month-end volatility arises. Despite this drop, the long-term outlook for Bitcoin remains bullish, supported by historical data predicting potential gains in February.
Analysts suggest that Bitcoin could reach new highs of $123,000 if four specific conditions are fulfilled, although these conditions were not detailed in the article. The bullish sentiment is primarily fueled by the past macroeconomic trends and the continued interest in cryptocurrencies.