Investors provide forecasts for bitcoin on…

Investors provide forecasts for bitcoin on… post thumbnail image

Many members of the crypto community are convinced that the prospect of a positive move opens up for digital assets.

The most capitalized cryptocurrency – bitcoin – started on Wednesday with a slight increase, which turned into a correction. As of 9:08 am ET, the digital asset was trading at $48,166.

bitcoin chart. Source: TradingView

The minimum value of the cryptocurrency in 24 hours, according to the CoinMarketCap resource, is set at $46,499, and the maximum at $789 billion. The last figure is the result of a platform bug. CoinMarketCap jokes about this issue. The developer drew attention to the fact that the bug made many bitcoin owners feel like trillionaires.

Meanwhile, the Bank of England has warned bitcoin investors that the cryptocurrency could lose its value. Write about this The Guardian. Bankers believe that BTC buyers should be prepared to lose all money invested in digital assets.

Bitcoin magazine mocked the Bank of England statement by publishing a chart of the British pound/bitcoin trading pair. It illustrates how the UK’s national currency has depreciated against cryptocurrencies over the years.

Also, information appeared on the network that the US Congress approved an increase in the national debt limit to $2.5 trillion. Wrote about this The New York Times. The publication notes that this move implies printing with the subsequent injection of many new US dollars into the economy. Such a scheme could have a negative impact on the value of the American national currency.

Co-founder of the Gemini cryptocurrency exchange, well-known member of the crypto community, Tyler Winklevoss, believes that the measures adopted by the US Congress can be considered as bitcoin advertising. In essence, the amount of BTC to be mined is limited. The bitcoin deficit, he argues, is able to positively affect the position of the cryptocurrency on the market, against the backdrop of pressure from the American authorities on the US dollar.

Many members of the crypto community believe that a combination of factors will allow bitcoin to continue to grow. Analyst Michael van de Popp believes that the cryptocurrency hit a local low on December 3. A rebound from it, according to the expert, will allow BTC to continue its positive run.

Microblogging analyst TechDev also sees the potential for further growth in bitcoin. This is shown by the results of the analysis of cryptocurrency behavior in the period after the previous halving.

According to Inmortal analysts, the cryptocurrency will be able to update its local maximum in early 2022.

The analyst who leads microblogging with the nickname Mr. Pope. He believes that amid warnings from the Bank of England about the possible loss of value of BTC and a number of other factors, the cryptocurrency will continue to decline.

More forecasts for bitcoin are in our material.

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