Will the first cryptocurrency update its historical maximum value and why its price is unlikely to fall to $ 10 thousand?
Bitcoin is likely to update its all-time high by the end of 2021, that is, it will cost more than $ 65 thousand, forecasts Mikhail Karkhalev, financial analyst at Currency.com crypto exchange. Before China began to actively prohibit the cryptocurrency, the expert predicted the growth of quotations to $ 80-85 thousand. Karkhalev warned that this is his personal opinion, which is not a recommendation or a call to action.
The analyst believes that in the event of a drop in quotations, Bitcoin is unlikely to cost $ 10 thousand.Even if such a collapse occurs, the expert predicts that the cryptocurrency will be instantly redeemed, and its price will return above the levels of $ 20-25 thousand.This situation may become a repeat of March 2020 when the bitcoin rate fell below $ 4 thousand, which was "a unique buying opportunity," Karkhalev concluded.
On Tuesday, July 27, the bitcoin rate is $ 37.2 thousand. Over the past day, the cryptocurrency has fallen in price by 2.5%. Its quotes fell sharply after they could not gain a foothold above the $ 40.5 thousand mark.
Watch the full version of the video interview with Mikhail Karkhalev at topplabs.org today, July 27.