Experts expect bitcoin to continue its growth in the near future
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No adverse conditions will be able to stop the growth of the first cryptocurrency in the foreseeable future. This was stated by cryptoanalyst, cryptotrader and YouTube blogger Jason Pizzino, No Worries reports.
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The analyst told his 284,000 followers that neither Bitcoin nor the stock market is in danger of economic regression — BTC is still afloat, despite the possibility of a recession and problems in the banking sector.
“Bitcoin has been trading above $25,000 for almost two months. Despite the difficult situation we have seen on the market, nothing will prevent BTC from reaching $30,000, $40,000, and possibly even $50,000 this year,” the expert noted.
According to Pizzino, those who want to get the main crypto-asset at a better price will most likely be left with nothing. The trader believes that after bitcoin “survived at the beginning of the year, received many bearish signals”, the cryptocurrency should be in the price range of $32,000 – $42,000.
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“If people expect lower prices (bitcoins – ed.), the market answers us: there won’t be any. Even a strong bearish signal did not work, as was the case with the indicator at $19,500.
The collapse of Silicon Valley bank did not work, and then Credit Suisse and even Deutsche Bank. This means that the market will recover in the micro- and macro-perspective. What can happen? Maybe we will exceed the level of $32,000, maybe $34,000. Maybe $42,000, let’s see,” Pizzino summed up.
At the time of writing, bitcoin cost about $27,790. Over the past day, the value of the flagship cryptocurrency has decreased by 0.35%, and in the week – by 0.87%.
Let’s remind
“Ministry of Finance” wrote that experts predicted the growth of bitcoin to $36,000 based on Fed signals.
Source: Ministry of Finance
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