The most popular cryptocurrency is getting closer to the level of $ 50,000 per coin. During yesterday's session it climbed above USD 48,000. Where is the BTC rate going? Here is the latest summary of forecasts and opinions from popular investors and analysts!
$ 100,000 by the end of this year?
Although a few months ago, such forecasts were quite abstract, today hardly anyone doubts that the oldest cryptocurrency could reach such high price levels. After Bitcoin managed to surpass the 2017 ATH price at the end of December, its rate continued to climb to new heights. Although there were numerous fluctuations on the way to new highs, as well as a sharp correction from levels close to USD 42,000 to those below USD 30,000, BTC quickly recovered. As a result, the current all-time record on the cryptocurrency chart is over $ 48,000.
According to the CEO of Galaxy Digital - Mike Novogratz, by the end of this year Bitcoin has a chance of reaching $ 100,000 per coin. During an interview in Bloomberg, the billionaire stated that many corporations and institutions will decide to include BTC in their investment portfolios, following in the footsteps of Tesla, which purchased this cryptocurrency for $ 1.5 billion. However, it does not end there, because the company represented by Elon Musk has announced that in the future it may decide to accept Bitcoin payments for its products.
Mike Novogratz pointed out that young generations are more and more willing to buy cryptocurrencies. Due to the fact that they grew up in the digital age, it is much easier for them to enter the market. As a result, the interest in BTC may increase over time.
Not so long ago, a well-known market analyst - Willy Woo mentioned that the most popular cryptocurrency is at an early stage of adoption. Moreover, he emphasized that this process is progressing much faster than it was with the Internet.
A bearish prediction from JP Morgan
While most of the cryptocurrency community has come to firmly believe that Tesla's decision will encourage other companies to make similar moves, analysts at the US international investment bank, JP Morgan, are skeptical about it. These, in turn, believe that corporations usually fill their portfolios with short-term bonds or investments, and the annual volatility oscillates around 1%. They added that the purchase of Bitcoin would result in its increase. In this case, the level of risk would increase, which they believe may prevent some firms from entering this market.
