37
0

The future trajectory of Bitcoin

37
0
bitcoin_analysis

Analysts have recently stated that although Bitcoin is recovering above $20,000. The market sentiment is completely volatile and the possibility of a downside correction is also possible

Will Bitcoin reach a new bottom

Analysts state that if Bitcoin maintains its current value above $ 20000 the bulls in the market will keep pushing the coin further. Therefore the rise of Bitcoin depends on how well it can maintain its market value above $20,000.

However, there is also a severe possibility of a downside turn of events wherein Bitcoin can reach a downside price of $12,000. If the coin hits a price of $12,000, Bitcoin will likely fall to $10,000.

The reason for this possible downside market correction can be the current market scenario of exorbitantly high-interest rates wherein the Fed keeps pulling out money from the market.

Will Bitcoin reach zero?

Analysts are very sure about the fact that Bitcoin won’t hit zero because of its severe potential, however, the coin will surely have to bear tough times in the upcoming six months.

What is Bitcoin’s future?

Analysts state that Bitcoin can reach a high of $65,000 in the upcoming two years. The moment the market starts lowering inflation and the Fed starts circulating more money in the market Bitcoin will automatically recover. Although they also cautioned that the crypto industry needs to sanitize itself and flush out assets with no utility or inherent value themselves.

However, as Bitcoin is an asset class that is still evolving any assumptions at the moment cannot be guaranteed per se.

Disclaimer: The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product. It is only intended to provide education about the financial industry. Please do your own research.


Author - Govind R.

Leave a Reply

Your email address will not be published.