 ▲ Bitcoin (BTC) © Coin Leaders |
The price of cryptocurrency leader Bitcoin (BTC) fell below the $60,000 level on the 24th (local time). It has been about 50 days since early last month that the price of Bitcoin fell below the $60,000 level.
Accordingly, CryptoQuant senior analyst Julio Moreno said through However, it acted as a support line last May, so if that support line is pushed, a significant decline could occur,” he warned.
However, Andrew Kang, co-founder of cryptocurrency investment firm Mechanism Capital, said via “We should not give up hope because it is entering the market, especially BTC $40,000 is an ironclad support line that will not collapse,” he emphasized.
He said, "The current market situation is similar to what it was in May 2021, not June 2021 or December 2020. We are used to rising prices, but we tend to be impatient with falling prices. After the bullish momentum began, there are now 9 “~10 months have passed. Based on my experience watching the market for many years, I predict that BTC will hit a new high next year.”
Meanwhile, according to Forbes, Bernstein analyst Gautam Chhugani predicted in a new Bernstein report that “Bitcoin could reach $1 million by 2023.”
Bernstein said, “Bitcoin will reach $200,000 by 2025, $500,000 by 2029, and $1 million by 2033. This upward trend is likely to occur as the Bitcoin spot ETF has been approved and trading becomes possible using institutional and banking platforms. “We predict that this will be realized, especially under the assumption that clear regulations are provided and a low interest rate environment is created,” he explained.
