Many market participants still believe in the prospects for the continued growth of digital assets.
The most capitalized cryptocurrency Bitcoin started the day with a sideways movement. At 7:41 a.m. (Moscow time), the digital asset was trading at $47,865. The minimum value of the cryptocurrency in 24 hours, according to the CoinMarketCap resource, is set at $47,414, the maximum at $49,869.
Against the backdrop of bitcoin’s decline, members of the crypto community decided to share their views on the prospects for the movement of the digital asset. PlanB analysts remain convinced that there is room for growth for cryptocurrencies. This is indicated by the signal from the S2F forecasting model he developed.
PlanB draws attention to the fact that currently its model bandwidth is in the $150K range (between $50K – $200K). Due to the fact that the gains may seem large, many investors, according to analysts, are convinced that S2F will break out. In fact, the model, according to PlanB, takes into account different market movement scenarios. The range shown by him matches them. Therefore, from an analyst’s point of view, bitcoin maintains its growth potential.
PlanB also draws attention to the fact that in the next cycle the S2F band will move into the $500K – $2M range.
The growth prospects of the digital asset market are also seen by the founder of the largest crypto exchange Binance, Changpeng Zhao.
“If you want to waste time, use the Internet. If you want to improve your financial situation, use cryptocurrencies,” the developer wrote on his microblog.
Not all market participants believe that growth prospects are open for bitcoin. For example, a leading microblogging analyst with the nickname Mr. Pope, I believe there will be a long correction ahead of BTC.
We will remind, FinExpertiza analysts previously came to the conclusion that bitcoin will be the most profitable asset for investment in 2021.