Will the first crypto repeat the success of 2017?
We have not thought about Bitcoin (BTC) for a long time. And in vain, because during the whole of April the first crypto grew almost continuously. The March default, of course, negatively affected BTC, but Bitcoin has already made up for lost potential and is now beginning to develop rapidly. Thanks to the productive development of cryptos, world publications make their own forecasts. Experts say that in 2020 BTC will repeat the success that was observed in 2017 and will reach its historic maximum. Is it really? Let’s understand this article. Today we will tell you what to expect from Bitcoin in the coming months.
The opinion of experts
First of all, we’ll touch upon Bloomberg. This is one of the largest financial companies engaged in compiling market forecasts and analyzing the upcoming development of many digital assets. This is why Bitcoin is more likely to grow. Experts believe that BTC will continue to grow actively and by 2021 it will cost about $ 20 thousand per coin. However, this does not mean that you can buy a coin right now, based on only one forecast. Note that this is a rather optimistic view of the crypto market. Most likely, the growth will really continue. But not at such a pace. A robust analysis of market realities suggests that the first coin will receive a price tag of 20 thousand dollars much later, by about 2023. However, development will continue anyway.
The productive growth of the first crypto is due to many factors. Firstly, this is a general economic decline. Now even large and developed states are undergoing serious tests, which is to say about the states, in the likeness of Argentina. The latter is approaching economic default. Which is why the country’s residents are showing a record interest in cryptos. Statistics shows that in recent years the number of relevant requests among Argentines has risen sharply. Thus, people discover new markets for themselves, looking for a replacement for an incompetent state currency. Active trading with Bitcoin has a positive effect on both the capitalization of the coin and the crypto price tag.
Moreover, Bitcoin is interesting to large industrial companies. Amid falling oil and the suspension of industry due to coronavirus infection, serious enterprises are looking for analogues of market assets. The choice falls towards BTC. Which is not subject to standard mechanisms of the economy and vice versa grows when all other assets become cheaper. Therefore, you can make a confident forecast for a healthy, albeit gradual, increase in the value of the coin.
Because of what the first crypto can become cheaper?
If we are talking about cryptos, we should not forget about the risks. It is foolish to deny that digital coins are a volatile and, in a sense, an unstable asset. The point is that a fall can begin even due to the actions of one market participant. The systems built on the Blockchain are deprived of all kinds of limiters, and therefore the banal sale of a large number of coins will negatively affect the price. An overabundance of digital assets will reduce the cost of the crypto, make it less necessary, which will definitely lead to a drop in value. But as a rule, such events are easy to predict. With the help of special market indicators, everyone can predict the course of prices and take appropriate measures to protect themselves and their savings. So do not worry and boldly, but deliberately, work with the first crypt.
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