Experts predicted whether the first cryptocurrency in the next two months will be able to reach an important psychological mark and what will happen in the digital asset market in this case.
Many analysts argue that by the end of this year the bitcoin rate may reach $ 100 thousand. to-Flow (S2F) PlanB. Experts have assessed whether Bitcoin is capable of rising in price to $ 100 thousand in the next two months.
The goal is achievable
The probability of Bitcoin reaching $ 100 thousand by the end of the year is very high, says Maria Stankevich, Development Director of the EXMO crypto exchange. According to her, the dynamics of the cryptocurrency at the moment almost ideally corresponds to the dynamics of the asset with a scarce value. Another factor contributing to the rise in the price of bitcoin is the high demand for the asset from institutional players, which does not fade, despite the record value of the cryptocurrency, the expert explained.
“$ 100 thousand is a symbolic psychological mark, after overcoming $ 50 thousand, which many investors are guided by. I would still focus on reaching this mark by the end of the year, ”added Stankevich.
The market looks strong
Growth to $ 100 thousand in percentage terms is only 55–65% of current levels, noted Nikita Zuborev, senior analyst at Bestchange.ru. According to him, over the short history of the existence of bitcoin, there are enough examples of even sharper growth in a shorter period. The analyst recalled that in February of this year, bitcoin rose by 90% in just a month.
“From the point of view of fundamental factors, at the end of the year, as a rule, exchange trading feels more confident than in autumn. And the recent events show a positive background on the part of Western politicians, which can bring more good news and provoke a new rally, ”the analyst summed up.
Until the end of this year, Bitcoin will not be able to reach $ 100 thousand, Andrei Podolyan, CEO of the Cryptorg platform, is sure. In his opinion, within the framework of a possible round of growth, the cryptocurrency may reach $ 82 thousand. The growth of bitcoin and the achievement of $ 100 thousand may occur in 2022, Podolyan admitted.
If the bitcoin rate does not manage to exceed $ 100 thousand in the current year, such a probability remains in the next year, according to Stankevich and Zuborev.
What will happen next
After bitcoin overcomes the $ 100 thousand mark, a small rollback of $ 7-9 thousand is likely to occur, after which the asset price will return to growth, the director of development of the EXMO crypto exchange predicted.
The market will go into a deeper correction after the price of bitcoin reaches $ 110-120 thousand, Zuborev said. In his opinion, within a year or a year and a half after that, the cost of bitcoin may drop to $ 30-40 thousand due to the prevalence of "bears" in the market.