Bitcoin News: According to an analysis published by Financial News, the probability of Bitcoin reaching $100,000 before the end of the year is decreasing with each day and each session. “The collapse in Bitcoin price has been going on for weeks,” says eToro crypto asset analyst Simon Peters, who made a statement on the subject.
“It is understandable that all markets have their ups and downs, but crypto is still a new and volatile asset class that needs to be tested in an inflationary ecosystem,” Peters said. “Investors should therefore avoid making decisions based solely on prices,” the analyst advised.
But what if Bitcoin drops below $10,000?
According to the study, the probability of BTC falling below $10,000 remained unchanged at 21%. In addition, the most likely alternative is that with a 52% probability, BTC will close 2021 above $ 50,000.
Barry Norris of Argonaut Capital said: “The idea of investing just to speculate will lose its power. This is a good thing,” he says. Norris’ words make special sense when you consider that his past of skepticism was bolstered by his short 50% return on MicroStrategy.
Most people who speak of crypto with almost religious reverence have no idea about investing.
Is the situation so bad for BTC?
“Following a collapse from annual and historical highs ($65,520) there are small details that invite optimism in Bitcoin,” said JM Rodríguez, technical analyst at Bolsamanía.
“Everything indicates that Bitcoin could attack the crucial resistance at $41,335 at any time. This is the peak of June and the highest level of the recent decline.”
It could reach $112,800
According to a study published by StormGain, one of the leading international platforms for cryptocurrency trading and examining the main risks for the cryptocurrency market, the growth forecast of assets like Bitcoin predicts the maximum value of the cryptocurrency at $112,800 by 2022.