Investors Are Discussed When Market Participants …

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Popular estimates for the growth of digital assets to the levels indicated by the end of the year have turned out to be unrealistic.

The most capitalized cryptocurrency – bitcoin – started the new work week with a sideways movement. At 09:30 (Moscow time), the digital asset was trading at $46,418. The minimum value of BTC in 24 hours, according to the CoinMarketCap resource, is set at $46,218, the maximum at a high of $47,999.

bitcoin chart. Source: TradingView

Against the backdrop of the prolonged decline in bitcoin’s price, members of the crypto community shared their forecasts for the digital asset. Microblogging leader PlanB, the analyst who developed the S2F forecasting model for BTC, still believes that there is growth potential for the cryptocurrency. We will remind you that he previously claimed that bitcoin would be able to break the $100K level before the end of the year. Against the backdrop of a prolonged correction in BTC, analysts are beginning to admit that their forecasts will not come true.

PlanB notes that it will take a “miracle” for bitcoin to break the $100K level by the end of the year. At the same time, he had no intention of releasing the S2F signal if his prediction did not come true.

PlanB, among other things, explains its positive outlook for BTC by the fact that the regulators of these countries continue to fight the financial crisis with the help of quantitative easing policies. This means printing with the subsequent injection of a lot of new money into the economy. A market-made flood with assets, due to an increase in supply, has a negative impact on their value.

In contrast to traditional money, which is controlled by the authorities, bitcoin issuance is very limited. In total, around 21 million BTC will be mined. At the same time, roughly every 4 years, the speed of bitcoin mining is reduced by 2 times, increasing the cryptocurrency deficit. This position of BTC, according to PlanB and many other members of the crypto community, makes this digital asset very valuable.

Many members of the crypto community believe that BTC is on a local basis. An analyst at Inmortal believes that bitcoin will start moving to its highest level in early 2022.

Analyst Peter Brandt, who managed to correctly predict the 2018 bitcoin correction, agrees with the opinion that BTC is close to the local minimum. At the same time, he draws attention to the fact that cryptocurrencies are moving in side-channel bodies. Analysts do not rule out that in the future, BTC will be able to return to its lower edge again.

Analysts at the Twitter Root channel, in turn, drew attention to the fact that bitcoin is characterized by a period of selling before updating its maximum value, in cycles. According to them, cryptocurrencies have not yet realized their growth potential.

Meanwhile, while bitcoin continues to move sideways, digital asset investors are forced to look for alternative ways to make money from cryptocurrencies.

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