Why do analysts expect the first cryptocurrency to grow in the first half of next year and why market participants remain positive
Source: ixbt.com
Trader Nicholas Merten believes that the next few months bitcoin will be in a “flat”, and in March next year will return to active growth and rise in price to $ 100 thousand. In the most optimistic scenario, the price of the first cryptocurrency may rise to $ 200 thousand, said Merten.
Source: litefinance.com
In November, the author of the Stock-to-Flow (S2F) model and analyst under the pseudonym PlanB admitted that the bitcoin rate could exceed $ 500,000 early next year. The expert claims that the first cryptocurrency is somewhere in the middle of the current bullish trend and the peak of growth may be much higher than expected.
Crypto-Auditor.com experts assessed analysts’ forecasts and explained Bitcoin’s prospects for the next year.
Bitcoin is not a security, and its value depends not only on technical and fundamental analysis, but also on many factors that have a significant impact on the rate. Despite the presence of a certain “bullish” trend, trying to predict the price of bitcoin next year is nothing more than guessing on the coffee grounds.
From a fundamental point of view, bitcoin has potential. The potential of the cryptocurrency is confirmed by various on-chain data and large purchases of bitcoin by “whales” during corrections. Various negative events can significantly affect the quotes of the crypto market.
One possible SEC decision to ban Bitcoin or USDT could have a significant impact on the exchange rate.
On December 1, the chairman of the US Securities and Exchange Commission (SEC) Gary Gensler called Bitcoin an autonomous alternative and competitor to the US banking system. Gensler previously argued that the regulator has no plans to ban Bitcoin and other cryptocurrencies.
All forecasts regarding cryptocurrencies should be taken with a high degree of skepticism. The current sideways movement on the crypto market does not cause any serious concerns for crypto investors. This indicates that the majority of market participants are in a positive disposition.
The first quarter of next year on the crypto market will be positive, since there are no factors for the negative growth so far. New participants enter the market, trading volumes are growing, and promising projects appear in the industry. After a period of strong growth in early 2022, the digital asset market is likely to undergo a correction that will last until about autumn.
