In the past six months, the value of Bitcoin increased for the third time and reached its highest value in 2021.
Experts have indicated a strong price increase in the market today following the suppression of applications for the exchange-traded spot BTC ETF by the SEC.
The group of analysts advising Euronews believes that by the end of 2024, the price of Bitcoin may reach 88,000 USD per unit. Forecast of future formations after the test of the British financial technology company Finder of cryptocurrency platforms and investors in the segment of the crypto industry.
There are many experts who expect further growth in the rate of Bitcoin. Analysts at the financial portal Traders Union predict that the price of wired cryptocurrencies will continue to trend during the long-term gap and that in the next few months the price of BTC will rise to $77,800 by the end of 2020 4 roku.
Participants in the cryptocurrency market present several important arguments for the further growth of military-technical cooperation:
1. Growth in BTC will be supported by institutional investors.
There is an increase in investment activity in digital assets from the side of investment funds, financial companies and other organizations.
One of the main international investment funds BlackRock has received a rating of institutional investors. After the SEC regulator praised the application for a spot ETF in the US in September, the fund’s balance was more than 225,000 BTC, and the capital value dropped to 15.5 billion US dollars.
MicroStrategy company, a leading supplier of software security. The holding saves more than 205 thousand BTC coins for storage, with a total value of more than 15 billion dollars. The company plans to issue bonds in the amount of 500 million dollars with the maturity date of the securities until 2030, and withdraw the money to invest in the purchase of Bitcoin.
According to analysts, the trend towards cryptocurrencies on the part of corporate investors will not last forever. While the representatives of the funds are actively buying Bitcoin, private investors are taking advantage of this moment and getting crypto assets in their portfolios, making a profit from rising prices.
2. BTC volatility has exceeded psychological levels of previous 2021 highs.
The withdrawal after the 2021 bullrun heavily fell into positions and caused millions of “hamsters” to lose, who were tempted to “get on the last car of the train” and buy Bitcoin for more than 65 thousand dollars in ochіkuvanni further growth. Therefore, experts estimate the mass sales of BTC coins in the range of 63-67 thousand. dollars
However, the price of Bitcoin rose, the market against it gained a stronger hold and reached 73 thousand dollars, reaching new historical highs.
3. Division of Advent.
BTC mining fees are getting more complicated, with the number increasing by 5.79% since the change ended. In the quarter of 2024, there will be a splitting procedure to double-change miners’ income and make this process less profitable. This has a negative impact on Bitcoin’s market position and will be a driver of the coin’s price increase.
At the same time, the number of harmful market corrections will increase. The index of fear and greed is above 87%, which is higher than the historical high, rising to 70% or less. This may indicate that investors are overly optimistic and the coin is overvalued. Such market sentiment was observed in 2017 and 2021, and after that prices fell due to a correction.
Due to the growing dynamics of the price of BTC in the rest of the market, a high increase on the part of investment funds, the approaching split and optimistic feelings of market participants, the price of Bitcoin can reach 80 thousand dollar at the beginning of summer. , and by the end of the year the quotation may exceed 100 thousand dollars. If the mother needs to pay attention, after the rapid growth of the skin will come a corrective treatment. Investors need to evaluate potential risks, adjust their portfolios appropriately, and adhere to risk management principles.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.