Why are many experts confident that the first cryptocurrency will reach a six-figure price within the current growth cycle and is it worth expecting strong drops in quotes after that
According to forecasts of many analysts, in the current growth cycle, bitcoin is able to rise in price to $ 100 thousand. This opinion has already been expressed by the well-known author of the Stock-to-Flow (S2F) PlanB model in the crypto community, Blockstream CEO Adam Back, Bloomberg chief commodity strategist Mike McGlone and analysts of the British banking corporation Standard Chartered. Topplabs.org experts predicted whether a correction should be expected after Bitcoin reaches $ 100 thousand.
Exit from the asset
A year ago, not everyone supported talks about the growth of bitcoin to $ 100 thousand, reminded the head of the analytical department of AMarkets Artem Deev. According to him, many investors were skeptical about such forecasts until the moment when bitcoin recovered after a drawdown to $ 28.8 thousand. Now the first cryptocurrency is very confidently going up and looks capable of breaking the important psychological mark of $ 100 thousand, the analyst said.
“Rapid growth is always followed by a correction. An asset cannot stay for a long time only at low levels or at a high value. A correction after $ 100,000 is inevitable, since investors' expectations of the coveted mark will attract many, "Deev explained.
After Bitcoin reaches $ 100 thousand, many investors will begin to exit the asset, because they want to make money on overcoming an important psychological level with the coin.
Difficult frontier
The probability that bitcoin will rise in price to $ 100 thousand in the next six months remains high, Vladimir Smetanin, CEO of the Swiss financial company Newcent, is sure. According to him, it will be difficult for an asset to pass this important psychological mark, so corrections, rebounds and other obstacles should be expected. The expert explained this by the fact that a large number of sell orders have already been placed in the range of $ 100-120 thousand.