Latest News

A burst bubble or a rise above $ 200,000? The price of bitcoin is steadily falling while crypto experts are arguing about

Relevance up to 10:00 2022-01-20 UTC+00

At the auction on Wednesday, the value of the main digital coin continues to decline. So, at the time of writing, BTC lost 1.18% and is trading at $ 41,779. Despite the permanent price reduction, the virtual asset was able to stay above the round level of $ 40,000 against the background of large-scale pressure on traditional financial markets. However, cryptanalysts are confident that soon bitcoin will not withstand strong pressure and will fall below this local support.

Leading altcoins hastened to adopt the trend of the first virtual asset and began to actively decline after it. And at a faster pace than Bitcoin. So, during the day, the Ethereum cryptocurrency lost 2.85% and today is trading at $ 3,106 per coin. Altcoin Binance Coin sank 2.26% and is worth $ 436. The total capitalization of the crypto assets market lost another 1.4% and dropped to $ 1.97 trillion. At the same time, the share of Bitcoin in the total capitalization has grown to 40%.

Chaos and confusion in the virtual asset market are increasingly forcing experts to express their opinion about its future. Often these opinions turn out to be opposed.

So, analysts of the American investment company Invesco said that in the coming months, digital gold will continue to decline, and it may fall to the $ 30,000 mark by autumn.

More pessimistic experts say that the spectacular decline of Bitcoin in recent months (-40%) signals the “deflation of the bubble” of digital assets against the background of a strong overheating of the market in the wake of the hype.

At the same time, representatives of the bitcoin supporters’ camp still believe in its bright and happy future. So, crypto enthusiast and TV presenter Max Keiser is sure that in the coming year BTC will grow to the level of $ 220,000, which he could not reach in the past year due to the mining crisis in China.

Keiser believes that the current decline of the first cryptocurrency is a temporary phenomenon associated with the derivatives market, and Bitcoin has a large-scale growth ahead against the background of the weakening of fiat money.

Investment analysts at Fidelity Digital Assets agree with the American TV presenter and argue that soon states that dispute the importance of digital assets will be forced to think about buying them as an insurance tool. According to experts from the cryptocurrency division of Fidelity Investments, 2022 will be the beginning of the adoption of BTC by the largest countries in the world.

Benefit from analysts’ recommendations right now

Top up trading account

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published.

More in:Latest News