Over the past few days, the rate of the first cryptocurrency has come close to $ 63 thousand, having updated the local maximum for six months. Experts predicted whether the coin will be able to continue to grow in the coming days
On the night of October 16, the bitcoin rate for the first time in six months approached the $ 63 thousand mark. This happened after it became known about the approval of the first US exchange-traded fund (ETF) based on bitcoin futures. As a result of the growth of the first cryptocurrency, the capitalization of the digital asset market has renewed its all-time high, exceeding $ 2.6 trillion. Topplabs.org experts told what to expect from bitcoin in the coming days.
$ 60 thousand – not the limit
The current week is ending well for the bulls, as the first cryptocurrency has updated the local maximum in the last six months, says Andrey Podolyan, CEO of the Cryptorg platform. In his opinion, next week, with a high degree of probability, the maximum of the current week will be updated.
“There are quite good chances of setting a historical maximum. Nevertheless, bitcoin taught that at the moment when the crowd is very confident in something and is waiting for something, the price goes in the opposite direction, ”the expert warned.
Overcoming the $ 60 thousand mark has become a very important psychological marker, after which we will see further upward movement, says Maria Stankevich, Development Director of the EXMO crypto exchange. According to her, the digital asset market is in an upward trend and bull run is not over yet, but just beginning.
The price of bitcoin has come close to updating the historical maximum, which indicates the potential for the growth of alternative coins and the beginning of a full-fledged "altseason", explained Stankevich. She believes that, despite the growing share of bitcoin in the market, a number of altcoins, as a percentage of their current value, will demonstrate much greater growth dynamics than the first cryptocurrency.
“This applies to both top-end altcoins and altcoins not from the top twenty,” the expert noted.
Some altcoins have already started to “shoot” and this trend will continue, Podolyan is sure. In his opinion, this is due to the fact that some bitcoin holders have already begun to shift the profit from the growth of the coin into altcoins.