Bitcoin, the most widely used cryptocurrency, which has topped its all-time high to over $ 40,000 several times this week, could reach $ 50,000 in the coming months and even $ 400,000 in the long run, experts said. consulted by EFE.
Diego Morín, an IG analyst, thinks so the cryptocurrency could reach $ 50,000 before March due to high demand for bitcoins from institutional investors.
(You May Interest: Why Did Bitcoin’s Price Rise So Much?)
“The rise of the cryptocurrency is due to the decision of major investment funds to introduce bitcoins into their wallets and to the adoption of the cryptocurrency in payment platforms such as PayPal,” said Morín.
Javier Castro-Acuña, Bitnovo’s Head of Business Control, finds it difficult to anticipate bitcoin’s valuation over time, although he explains that, according to recognized entities in the financial world such as JP Morgan or Guggenheim Partners, the cryptocurrency could be to achieve be worth between $ 146,000 and $ 400,000 in the future.
Ramón Ferraz, CEO of 2gether, assures JP Morgan that predicts that Bitcoin could reach $ 146,000 in the long run “not an exaggeration”.
(Also Read: Why WhatsApp Policy Changes Cause So Much Controversy?)
According to Ferraz, the digital currency will continue to rise in the future, even if there is a temporary decline related to investor profit collection, as “ the cryptocurrency gains momentum as a safe haven to replace gold and as a reserve. from organizations and who knows or from states “.
However, other experts such as Marc Sansó, CEO and founder of Elsebits and professor at EAE Business School, do not consider it possible to state what the value of bitcoin will be in the future.
“We don’t know and would dare say that anyone who says a number is lying. We are in front of a book bubble, the average volatility was 69% last month, which is amazing,” he says.
(We recommend reading: Google Faces New UK Antitrust Investigation)
For Sansó, some of the reasons for bitcoin’s rise in recent weeks are the excessive liquidity of the market, the limited supply, the call effect generated by the media and the increase in the number of ‘traders’ (operators) in the cryptocurrency market.
The EAE Business School professor believes that another cause of the rise in cryptocurrency is that investors view the digital currency as a hedge against inflation.
In recent weeks, other digital currencies such as ether, the cryptocurrency of the Ethereum technology network, have also appreciated in the cryptocurrency market. Javier Castro Acuña is confident that its value will continue to grow, since the Ethereum network It’s the ‘blockchain’ that more developers are working on and it’s the gateway to decentralized finance, a financial world that exploded last summer and that it has exponential growth potential. ”
(Also: Elon Musk surpassed Bezos and is the richest man in the world)
Ramón Ferraz expresses himself in the same vein, who believes that ether and bitcoin have a journey. “Ether, like bitcoin, enjoys the network effects in the use cases they provide, which means it is very difficult for other cryptocurrencies to compete with them,” he says.
In addition, Ferraz is confident the launch of the Ethereum 2.0 network will make the cryptocurrency much more efficient, which will increase its use among investors.
You may also be interested in:
– So you can leave a YouTube video in your WhatsApp status
– Twitter permanently suspends Donald Trump’s account
– What are the new WhatsApp policy changes?
EFE