Analyst predicted further growth of bitcoin

Bitcoin (BTC) will continue to grow, according to BitRiver financial analyst Vladislav Antonov. He told Izvestia on December 5 that the next important mark for the cryptocurrency will be $130 thousand.

Earlier in the day it was reported that the cost of bitcoin again updated the historical maximum and overcame the mark of $100 thousand. Currently, according to Binance, the rate is at the level of $103 thousand.

"The key trigger was the nomination by [US President-elect Donald] Trump of Paul Atkins as chairman of the SEC (US Securities and Exchange Commission. - Ed.) - a man who has always consistently advocated for technological innovation in the financial sector. If earlier the cryptocurrency market was suffocating under the strict regulation of Gary Gensler, then with the arrival of Atkins, investors expect dramatic changes, "- said Antonov.

The expert specified that Atkins' reputation as a professional who understands the potential of digital assets inspires serious optimism among investors.

At the same time, the analyst added that BTC has overcome not only the psychological mark of $100 thousand, but also quickly advanced to $104 thousand.

"Current indicators show a stable bullish trend, although the risk of correction is present. The price is not growing without pullbacks. Simply bitcoin is interesting for both speculators and long-term investors," he emphasized.

According to him, in parallel, the macroeconomic landscape is becoming more and more favorable. Lower interest rates by the Federal Reserve are creating ideal conditions for capital inflows into risky assets.

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"As for the outlook, I expect the uptrend to continue. The next important marks are $130k and $160k. However, investors should be ready for possible short-term corrections amid market overheating. According to the trend it is necessary to unload the index of "fear and greed" to the values of 70-75 (now the index is at the level of 84), then the trend can last until the fall of 2025. When the value of the index reaches 995 p., the correction begins," Antonov said.

In his opinion, it is now necessary to closely follow the statements of Atkins and the general agenda of the SEC, which may become catalysts for further movement of the cryptocurrency market.

"His refusal to give up the chair, may cause a downward correction, but even this is not terrible, as Trump will find another suitable candidate for the crypto community," the analyst concluded.

In September, the director of the Association of Industrial Mining Sergei Bezdelov at the session "Industrial Mining" of the Eastern Economic Forum said that in 2023, 54 thousand bitcoins were mined in Russia. They can bring the treasury taxes in the amount of 50 billion rubles on the horizon of several years.