In April, the price of the main cryptocurrency exceeded $ 64 thousand. Experts predicted whether the digital coin will be able to reach a new high in the coming months.
In the first half of 2021, the crypto market experienced rapid growth. From the beginning of the year to mid-April, bitcoin grew by 123% and updated its all-time high at $ 64.8 thousand.
Over the same period, Ethereum, the largest altcoin in terms of capitalization, has risen in price by 482%. Its price peaked at $ 4.3 thousand.
Analyst Willie Wu claims that the next wave of explosive growth in the crypto market will begin in October-November this year.
Long-term holders continue to accumulate bitcoin, Wu said. When the accumulation of cryptocurrency reaches its peak, an impulse will occur, which will provoke a rapid growth in the digital asset market, the specialist is sure.
A similar forecast was given by the analyst and author of the Stock-to-Flow (S2F) PlanB model.
In Willie opinion, the price of bitcoin will reach $ 100 thousand by the end of this year. The next months will be key for the course of the main cryptocurrency, the analyst noted.
Upward trend
Technical analysis confirms that a period of strong and long-term growth in bitcoin may fall this fall, says Artem Deev, head of the analytical department at AMarkets.
According to Artem, the charts clearly demonstrate an upward trend, which can intensify in the fall and last until spring.
“The trajectory of bitcoin in recent years has been repeating itself almost all the time, and if you look by analogy with last year,
then this fall such a development of the situation awaits us – bitcoin can quite realistically overcome the past record marks of over $ 64 thousand per coin,” the analyst predicted.
The rapid growth of cryptocurrency is also facilitated by the increasing popularity of digital assets that are already used at the household level, Deev explained.
In Deev opinion, the only limiting factor for the growth of the crypto market is the restrictive measures that are taken at the state level.
In May of this year, cryptocurrency miners began to leave China on masse after criticism of digital assets by the country’s government.
Already in June, the PRC authorities began to introduce bans on mining in certain regions, later the restrictions were extended to the entire territory of China.
In 2021, the world’s largest crypto exchange in terms of trading volume, Binance, faced pressure from global financial regulators.
The activities of the trading platform were studied by regulators from Thailand, Italy, Great Britain, USA, Singapore and other countries.
The likelihood of growth is high
At the moment, there really is a high probability of rapid growth in the crypto market, says Anton Kravchenko, CEO of Xena Financial Systems.
According to Anton forecast, during the next rally, Bitcoin will overcome the $ 100 thousand mark, and Ethereum will rise in price to $ 6 thousand.
“If a bull run occurs, it will last until February 2022 and then there will be a sharp correction,” Kravchenko predicted.
In case of rapid growth of bitcoin, altcoins will repeat its dynamics, the expert is sure.
Autumn is always a period of active growth of not only digital, but also any assets, says Vladimir Smetanin, CEO of the Swiss financial company Newcent. He believes that Bitcoin will reach $ 100 thousand this fall.