The end of the year is approaching fast, which means analysts and investors are making predictions for the year ahead. Cryptocurrency has been a major theme of late, so it’s only natural that we’re starting to get in a growing number of Bitcoin price predictions. It seems most of those who follow cryptocurrency expect it to continue soaring next year, with some predictions putting the price in the hundreds of thousands of dollars.

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Bitcoin now falling after hitting a ceiling

Bitcoin prices reached near $20,000 over the weekend, but since then, they’ve dropped to around $18,000. CoinDesk’s Bitcoin Price Index placed the price at around $17,450 on Tuesday, while the prices of other cryptocurrencies have soared. Ethereum and Bitcoin Cash reached new record highs on Tuesday, according to prices from CoinMarketCap, and the top ten cryptocurrencies according to market cap are up by at least 6% to more than $630 billion in total.

Based on these price movements, we’re starting to see a few Bitcoin price predictions suggesting that we’re starting to see a rotation out of Bitcoin and into other cryptocurrencies. Chart technicians are putting the knowledge and experience they’ve learned from reading stock charts to work for the cryptocurrency market, and in a post for CoinDesk, Omkar Godbole warns that Bitcoin is now risking a bearish reversal.

Rotation out of Bitcoin, into other cryptocurrencies

He explained that exchanges which are offering Bitcoin Cash/ Bitcoin pairs are seeing a sudden surge in volumes, which does seem to back up the rotation he’s been writing about recently. He noted that the rotation from Bitcoin into other cryptocurrencies is mostly in line with the bullish cross on the cryptocurrency charts.

On the Bitcoin chart according to Coinbase’s prices, he noted a pattern referred to as a “hanging man” candle, which is a bearish reversal which forms on top of an uptrend. A weak closing price under $18,200 would confirm this reversal, although the five-day and 10-day moving averages are currently favoring bulls.