Skip to main content
Advertisement
Live broadcast

The expert allowed bitcoin to grow to $ 87.6 thousand by mid-May.

Baryshnikov: Bitcoin may rise to $87.6 thousand by mid-May
0
Photo: IZVESTIA/Anna Selina
Озвучить текст
Select important
On
Off

From a technical point of view, bitcoin's retention of the $80-81 thousand range retains the potential for further growth. With the improvement of the geopolitical situation and softer inflation data in the United States, the value of the cryptocurrency may test the levels of $85 thousand and $ 87.6 thousand. by the middle of May. Alexander Baryshnikov, the manager of the Mining fund at Record Capital Management Company, told Izvestia on May 12.

"Since the beginning of this week, bitcoin has been trading above the key zone of $80,000, despite increased geopolitical risks and the expectation of important macro statistics from the United States. On Sunday, the pressure on the market intensified after new statements by the head of the White House, Donald Trump, on Iran. The US president called Tehran's response to the American peace proposal "absolutely unacceptable," which once again raised concerns about the conflict in the Middle East and the potential acceleration of inflation through rising oil prices," the expert said.

Against this background, the cost of bitcoin briefly decreased from $ 81.5 thousand to $80.3 thousand, but then quickly recovered and is now trading near the level of $ 81,050. According to the expert, such dynamics indicates that the market has already adapted to harsh political statements and retains expectations of a possible transition of the parties to the negotiation process.

According to Baryshnikov, the key event for the cryptocurrency market this week will be the publication of data on the US consumer price index. Investors expect a slowdown in monthly inflation, which may be a positive signal for risky assets. At the same time, the continued high annual and core inflation rates indicate continued inflationary pressures in the American economy.

According to the expert, stable capital inflows into spot Bitcoin ETFs and steady institutional demand provide additional support for digital assets.

On May 4, it was reported that the cost of bitcoin during trading exceeded $ 80 thousand for the first time since the end of January. As of 05:40 Moscow time, bitcoin was growing by 2.61% and was at the level of just over $80 thousand. By 06:00 Moscow time, the cryptocurrency slowed its growth to $80 thousand (+2.64%).

Переведено сервисом «Яндекс Переводчик»

Live broadcast