Despite the general bearish trend of the cryptocurrency market, there are many analysts who seem to believe that Bitcoin is still He has what it takes To reach the price of 100,000 dollars.
Bitcoin is stronger than it looks now
Bitcoin has been in a bit of a bad situation lately. The world’s number one digital currency by market capitalization has fallen into a recession and crashed like never before this year. The digital asset traded against a new all-time high of around $68,000 per unit last November, although it is now down (nine months later) more than 60 percent and struggling to maintain a position in the low $20,000 range. It is a sad and ugly sight to see.
Among the analysts talking about bitcoin is Martin Heisbuck, Head of Blockchain and Cryptocurrency Research at Uphold. He says that many of the company’s clients remain concerned about the potential long-term effects of the cryptocurrency space. There is concern given that many other companies have either halted withdrawals, filed for bankruptcy, or reduced their staff.
In a recent interview, he said:
The market remains weak and nervous, not necessarily due to threats from more crypto ventures going bankrupt but from the difficult economic situation we are facing right now. In other words, the price of bitcoin depends more on the supply of gas to Germany as on any crypto-related news or scale.
There are several things that have led to the decline of Bitcoin at the time of writing, the main one being inflation. Not so long ago, inflation in the United States, for example, was It reached its highest level in 40 years of more than nine percent. Joe Biden kept pouring money as it grows on trees and with him Recently remission of different Student loans, one can only assume that more tax burdens and other financial restrictions will fall on the ordinary public.
However, while the current economic conditions facing America and the rest of the world look frightening, many discerning analysts believe that the six-digit price of Bitcoin is achievable. Kate Waltman, a certified public accountant in New York who specializes in cryptography, explained:
Most Experienced Teachers in Space Expect $100,000 [for] Bitcoin in the first quarter of 2022 or earlier.
However, the problem with this statement is that it was made at the end of 2021, so it is clear that with only three months remaining in 2022, the analysts involved left no room for failure and could not have foreseen the massive losses that Bitcoin could suffer. suffer this time.
Long-term growth in the mix?
But for many, sentiment remains positive, as Kiana Daniel – founder of Invest Diva and author of “Cryptocurrency Investing for Dummies” – stated:
What I expect from Bitcoin is volatility [in the] short term growth [in the] long-term.
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