The prediction that Bitcoin would reach $ 100,000 before the end of the year has failed as it will not even reach 50,000. However, for an expert this is something positive and we will tell you why.
The statements of the Chairman of the Federal Reserve, Jerome Powell, which he gave in early December, caused the stock markets to crash and consequently a crash of the cryptocurrency market.
That same morning, Bitcoin investors woke up with a decrease of 6.77%, which was the sum total of your earnings from last week.
In the last seven weeks, BTC has been clouded by price declines since hitting its all-time high of nearly $ 69,000 in early November. However, since then, the coin has been hovering around the $ 45,000 to $ 48,000 mark, losing more than $ 23,000 as a result.
And although it managed to reach $ 51,000 last week, it was only a short time that it stayed that way. Currently, as of December 30, it is at US $ 46,901.60.
Well, with all this on the table, there is an expert who believes that despite the recent fall in Bitcoin, is actually good news for the survival of this. We explain why.
Katie Stockton, founder of US investment firm Fairlead Strategies, previously warned that if Bitcoin fell below $ 44,200, its price could go into free fall depending on the reactions of investors.
He predicted that this price could be a standard level for the cryptocurrency, meaning that demand could pick up because the lower price is attractive to buyers, but not so high that sellers ditch their tokens.
Stockton has said that bitcoin holding above the $ 37,000 limit is a good sign.
BTC “remains solidly in a long-term uptrend … and our long-term indicators continue to point higher despite being down this month,” Stockton writes. Plus, he predicts it will hit $ 55,000 fast.
If Bitcoin manages to exceed those figures, it would conceivably be around $ 65,000, which would become his next long-term resistance.
It is calculated that the coin will reach between $ 114,000 and $ 130,000 in the first quarter of 2022. However, after that, prices would drop drastically, where they would stay until the next rise.
We will see what happens in the end as the new year progresses since previous predictions have been failing one by one.