Crypto has a place: bitcoin was prescribed further growth above $120 thousand.
Bitcoin easily overcame the psychologically important mark of $100 thousand, which opens the way for the main cryptocurrency to further growth up to $125 thousand this year and $160 thousand next year, according to experts interviewed by Izvestia. The main positive factor is Donald Trump's nomination of a new chairman of the Securities Commission, as Paul Atkins is in favor of innovation in the financial sector. In addition, bitcoin is supported by macroeconomic factors: lower interest rates in the U.S., which makes investing in crypto more profitable, and interest in the asset from institutional players.
Why bitcoin rose above $100 thousand.
Thebitcoin rate broke through a psychologically important mark - a record $100 thousand from the morning of December 5 and continued to grow to $103.7 thousand, follows from the data of investing.com. Then it rolled back slightly - to $102.9 thousand by 17:00 Moscow time.
In total, bitcoin has risen in price by 140% since the beginning of the year, estimated BitRiver financial analyst Vladislav Antonov. On December 5, it made a real breakthrough, breaking the round mark - the key trigger was the nomination by U.S. President-elect Donald Trump of Paul Atkins to the post of chairman of the U.S. Securities and Exchange Commission (SEC), the expert believes. According to him, this is a man who has always consistently advocated technological innovation in the financial sector.
- If earlier the cryptocurrency market was suffocating under the strict regulation of Gary Gensler, with the arrival of Atkins, investors expect dramatic changes. His reputation as a professional who understands the potential of digital assets inspires serious optimism among investors. It is not by chance that such major players as the CEO of Ripple called this appointment a return of "common sense" to regulation," said Vladislav Antonov.
According to him, the technical layout also plays in favor of growth. Bitcoin has overcome not only the psychological mark of $100 thousand, but also quickly moved up to $103.7 thousand. Such indicators show a stable bullish trend. Although the risk of correction, especially temporary, is present, because speculators also invest in cryptocurrency.
- In parallel, the macroeconomic landscape is becoming more and more favorable. The Fed's interest rate cuts create ideal conditions for capital inflows into risky assets," Vladislav Antonov added.
Cryptocurrencies are increasingly perceived as a strategic asset, especially against the backdrop of volatility of traditional markets, agrees Daniel Tyun, senior analyst at the closed venture club Digital Finance. And the current level of prices for buying crypto creates favorable conditions for the entry of large players, despite possible short-term fluctuations. In particular, the spot bitcoin-ETF (analog of the Russian mutual fund) from the investment giant BlackRock has already surpassed the company's gold-based fund in terms of assets under management.
Another positive for the global cryptocurrency market is the law on mining adopted in Russia, which became effective on November 1, added Sergey Bezdelov, director of the Industrial Mining Association. Crypto mined in the Russian Federation is already supporting the harmonization of foreign economic activity.
What will happen to the bitcoin rate next
If the current dynamics continue, bitcoin will continue to strengthen, believes Daniel Tyun. This trend opens the way for the main cryptocurrency to reach $125 thousand by the end of 2024, he said.
The upward trend will continue, believes Vladislav Antonov from BitRiver. He specified: the next important marks are $130 thousand and $160 thousand.
The limited supply of bitcoin and the constant growth of new holders create conditions for a long-term increase in its price, confirmed the founder of the investment company SharesPro Denis Astafiev. In this upward cycle, it is worth paying attention to the total market capitalization, which may reach $7-8 trillion (today - $3.8 trillion). This makes it possible to reach prices of $200 thousand next year, the expert expects.
- But we should not forget that sharp growth is followed not only by correction, but also by cycles of decline. In the crypto market, they can reach up to 80% of the achieved maximum, - warned Sergei Bezdelov.
At the same time, according to him, on the horizon of short-term investments until the beginning of winter next year bitcoin looks very attractive.
However, the minimum limit to which the rate can roll back, will now be in the neighborhood of $ 80 thousand, not $ 30-50 thousand, as it was before, added the founder of Anderida Financial Group Alex Tarapovsky.
On the horizon of ten years the target mark of $1 mln also looks realistic, emphasized Denis Astafiev. Therefore, according to him, the asset can be held at least until the next halving (regular cuts in remuneration for mining) in 2028 and 2032.
