THE EXPERT EVALUATED THE FUTURE OF BITCOIN



The expert said that the price of bitcoin will decrease slightly, and then rise to $ 53-58 thousand

The cost of bitcoin may decrease slightly in the coming days - up to 41 thousand dollars, but then, most likely, it will go up and may reach 58 thousand dollars, this forecast was announced by Joseph Marc Blumenthal 

“In the next few days, we expect the tool to undergo a moderate correction, but this will be temporary. We are likely to assume that the price of Bitcoin will fall to the $ 41,000 level and further consolidate at this level, and the experts forecast is followed by a new round of growth and enters the $ 5.358 million range.

 

Blumenthal explained: this week the cryptocurrency market is experiencing a noticeable outflow of funds. Investors were wary of the next statements by the head of the US Securities and Exchange Commission (SEC) Gary Gensler, who in an interview with Bloomberg stated the need to regulate the crypto market. In addition, the likely reason for the outflow was the positive report on the US labor market (Nonfarm Payrolls). As the expert said with reference to the published statistics, the number of jobs in the US non-agricultural sector rose to 943 thousand against the projected 870 thousand.

 

"This has supported the market's opinion about the imminent curtailment of the Fed's ultra-soft monetary policy, raising rates and, as a result, lowering inflation. This partially reduces the attractiveness of cryptocurrencies, due to limited emission, which is considered a protective tool against inflation," Joseph Marc Blumenthal explained.

 

According to him, the most notable outflow of about $ 33 million was observed in bitcoin, the trend has continued for five weeks in a row. In turn, an insignificant inflow was recorded in Ethereum - about $ 2.8 million, its market share is growing again and is already about 26% in the assets of funds investing in cryptocurrency, against 11% at the beginning of the year.

 

"However, the outflow has not yet interfered with the confident growth of bitcoin quotes. On Tuesday, a new local maximum in the last 11 weeks was reached - the price exceeded $ 46.5 thousand. Since the beginning of the year, bitcoin has grown by 65%, and the cost of gold, the main competitor protective assets decreased by 9% ", - summed up the agency's interlocutor.

 

 

 

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