Experts estimated the terms and probability of reaching a level of $ 100,000
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This week, Bitcoin reached a new historical maximum at a level above $ 67,000. The ascending trend has been observed over the past few weeks. However, the most powerful impulse for the coin was the approval of the SEC of the first ETF in the USA on the basis of bitcoin forms from Proshares.
At the time of writing, bitcoin is traded at $ 61,795, according to Coingeco.
FORKLOG asked experts to predict the further dynamics of the development of the price of the first cryptocurrency and indicate the factors on which it will depend.
Yanis Kivivulis, leading strategist Exante:
The first futures Bitcoin-ETF Fund launched a rally in the cryptocurrency market and updated historical maximums. It is worth noting a general increase in appetite to risky assets among investors over the past one and a half months.
US shares quickly recovered after the September failure and are now near historical maximums, Chinese technological also retreating from the local bottom. Against this background, bitcoin looks like a modern global indicator of demand for risks, and it enjoys optimism bordering euphoria, adding more than 60% to minimums of the end of September.
Texalism suggests that without significant fundamental obstacles, Bitcoin has a growth potential in the area of $ 92,000- $ 100,000. Judging by the amplitude of the previous ascent, http://coin-graph.website/?p=370 the achievement of these goals may take 3-4 months. However, no one will undertake to predict how events will actually develop.
Gleb Kostarev, Director of Binance in Eastern Europe:
For the cryptocurrency industry, the launch of Bitcoin-ETF is one of the main events of 2021. I think that in the near future we will see a large tributary of retail and institutional investors who previously feared investment in bitcoin due to not quite transparent regulation of the industry and the complexity of the entrance. Thanks to Bitcoin-ETF, these fears will cease to be a barrier to the influx of investors in cryptocurrency industry.
Currently, the SEC has several more applications for Bitcoin-ETF, including from the Grayscale Foundation. It is possible that their approval will be another impulse for bitcoin.
Speaking about possible historical maximums of cryptocurrency prices, I will say that Binance is always positively tuned to the further development and growth of the market, we are ready for new ATH.
Mikhail Chobanyan, founder of the Kuna exchange:
[Market] sausages and cool. Bad when [he] does not move.
Anton Kravchenko, CEO Xena Financial Systems:
Bitcoin is in the range of historical maximum and aims to overcome it. An increase of above $ 65,000 can cause a wave of purchases on which the price can confidently pass to $ 78,000 and then with corrections will move to $ 90,000. The market is strong, its participants are optimistic.
It is also interesting that the traders who recently came to the market and actively buy Growth papers or high -handed names, like Tesla, will also turn over from the paper in the case of a decrease in the stock market expected at the end of 2021 or early 2022. Therefore, cryptocurrencies before the New Year is a growth market, but it is worth remembering that after growth, significant reduction often occurs.
Nikita Soshnikov, director Alfacash:
ETF launches for Bitcoin Figures from Proshares remains the main driver of the first cryptocurrency growth. The volumes demonstrated in the first days of trading confirm the demand for such a tool in the market of traditional financial instruments.
Other positive factors were news about the investments of the Texas Pension Fund of Firefighters in Bitcoin and ether, as well as the appearance of cryptomats in Walmart. Although this news was not so much provoked as simply supported by the general enthusiasm of the bidders.
If bitcoin manages to confidently gain a foothold above $ 67,000, then the coin has every chance to exceed $ 70,000 in the coming week. Perhaps not immediately, but after a few local fives with subsequent correction below $ 70,000.
The further scenario can develop avalanches: if bitcoin is fixed above $ 70,000, then there is a high probability of excitement demand. And then the cryptocurrency course can easily exceed $ 75,000 and $ 80,000 for several days. But further growth is seen for me unlikely.
Most likely, after a break in $ 80,000, Bitcoin will come off the ceiling from orders for sale, put up by the investors, and will be adjusted below this level.
To consolidate above $ 80,000 and growth of $ 100,000, new impulses will be required, for example, the approval of bitcoin -etf, tied directly to cryptocurrency, and not to futures.
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