The last few days, the first cryptocurrency has been trying to gain a foothold above the psychological mark of $ 50 thousand. Experts predicted whether the coin will be able to successfully overcome this level and what may happen after that.
Over the past two days, bitcoin several times crossed the $ 50 thousand mark. The price of the main cryptocurrency reached $ 51 thousand.
However, the coin has not yet managed to confidently gain a foothold above this psychological mark. On September 5, Bitcoin is trading at $ 50 thousand. Experts predicted whether the first cryptocurrency will be able to overcome an important psychological mark in the coming days.
Markets are volatile
In the current situation, it is extremely difficult to predict the growth or decline of bitcoin, says the head of the analytical department of AMarkets Artem Deev.
According to Deev, there is an unstable situation in the financial markets, despite the continuous growth.
“Investors are well aware that this celebration of life will continue as long as the Fed is pouring money into the US economy,” the analyst explained.
As soon as the regulator revises the monetary policy (and this may happen in the fall), there will be an outflow of funds from many markets, including the cryptocurrency one, Deev said. In his opinion, this can provoke a sharp drop in bitcoin to $ 37-40 thousand.
On the other hand, from a full-fledged crisis, the economy is restrained by banks that keep rates at lows and continue to print money, the analyst recalled. If this continues until the end of this year, then Bitcoin will grow and attract investors, Deev said.
According to his forecast, in such a situation, the first cryptocurrency will be able to recover to $ 60 thousand and show new historical highs.
“The situation can change literally in a day, on one news or decision of world regulators.
So all that remains is to observe and seize the moment in order to make investments or prevent losses, ”the expert noted.
Two scenarios
Considering that bitcoin has repeatedly crossed the $ 50 thousand mark and moved further to $ 51 thousand, most likely it will manage to gain a foothold at this level, Nikita Zuborev, a senior analyst at Bestchange.ru, predicted.
According to Nikita, in the coming days the price can be expected to move to the range of $ 50-53 thousand with possible attempts to break through the resistance levels at $ 57 thousand.
“It will be much more interesting to watch Ethereum these days.
If the positive or at least neutral background for the Bitcoin trend remains, we expect a possible update of the historical highs for the altcoin next week, “the analyst noted.
If a negative scenario is realized and bitcoin begins to decline below current levels, then its rate may fall to $ 48 thousand, Zuborev explained. In his opinion, even in this case, the week will be stable and without serious kickbacks.
At the moment, an important resistance level for bitcoin is at around $ 51.3 thousand, according to the co-founder of the EXMO crypto exchange Ivan Petukhovsky.
According to Ivan, a likely scenario would be a rebound from this level with subsequent consolidation in the range of $ 47-49 thousand.
If bitcoin manages to overcome the level of $ 51.3 thousand, then the next growth target will be around $ 58 thousand, Petukhovsky added.