News: The start of 2020 sees mixed signals. While the annual recap of 2019 highlights a strong 88% gain for Bitcoin and a general sentiment that 'cryptocurrencies are here to stay,' with reduced regulatory concerns, immediate price action on January 1st shows a slight bearish trend with Bitcoin failing to hold resistance and breaking support. Counteracting this, a prominent economist has labeled Bitcoin a 'pyramid scheme,' introducing significant negative sentiment that could deter investors. The long-term outlook remains cautiously optimistic due to increasing institutional adoption and the development of state-backed digital currencies.

Market Probabilities: 
Bull 40% | Base 30% | Bear 30%

Recommendations: 
Short-term: HOLD
Long-term: BUY
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