Bitcoin Is A Gold 2.0: Crypto Analysts Are Convincing BTC Price Rise To $50,000 And More
According to many analysts predictions for the BTC price it can rise up to $50K mark, if the interest to the coin will keep showing the same results. Currently, it is hard to find people who have never heard a single word about Bitcoin.
Market sentiment regarding price volatility
Although Bitcoin has recently been demonstrating instability in the price movement, many large participants in the cryptocurrency market continue to believe in the colossal prospects of the flagship. In many ways, this optimism is associated with the difficult macroeconomic situation in the world, which has fueled investor interest in digital currency.
Bitcoin rally ahead
The fall of Bitcoin below $9,000 was short-term, the bears could not hold the momentum and send the crypto asset down. Bitcoin was able to rehabilitate and returned to a support level of $9,500. The last jump of the flagship is used by many analysts as an argument according to which Bitcoin has enough strength to continue to move up.
Some of the crypto enthusiasts make high-profile statements that Bitcoin could jump to $50,000 before 2021. They see the current sluggishness of Bitcoin as a transitional stage to the rally. Other analysts went even further in their forecasts: in their opinion, in just a few subsequent ones, the price of Bitcoin could jump to $100,000.
Among the ardent followers of Bitcoin, Chris Burniske is a partner of Placeholder. He does not hide that he believes in a great future for Bitcoin and the cryptocurrency market as a whole. He noted:
The degree of confidence in Bitcoin is growing
Cryptanalysts are sure that Bitcoin can be a great alternative to Gold. Today, many large investors are interested in preserving their capital, fearing the intensification of the negative consequences that the whole world has already experienced because of the pandemic. If Bitcoin in the mass consciousness acquires the status of a reliable hedge asset, this can completely change the situation in the global financial infrastructure.
Winklevoss Twins noted:
2020 showed how Bitcoin can adapt to changes in the “game” in the market. After the flagship cryptocurrency fell into the price range of $3,000 in March, many put an end to the asset and as a result, a wave of mass sale of the flagship cryptocurrency followed. But Bitcoin has demonstrated at an accelerated pace that he is not ready to give up, and this is evidenced by the accelerated price increase to an indicator of $9,000.