04.03.202107:16 Forex Analysis & Reviews: Bitcoin is becoming more and more like "digital gold". The realistic target for the coming months is $75,000.

In the previous article, we already said that bitcoin is aiming for a new round of corrective movement, within which it can fall to at least $ 43,000 per coin. Next, everything will depend on how the large holders of the cryptocurrency will act. If new sales follow, the "cue ball" can complete the next round of "hype growth" and rush down to the area of $ 10-20 thousand per coin, where it can spend a couple of years. However, if the bulls keep the cryptocurrency from falling below $ 43,000, then at least one more round of upward movement may follow, within which the price may rise to $ 75,000.

Bitcoin itself does not lose popularity, however, other cryptocurrencies do not sleep. For example, over the past month, the social network Twitter has had more mentions of the Dogecoin cryptocurrency than Bitcoin. This means that they are not united by bitcoin. In the future, several cryptocurrencies will be able to compete with bitcoin for the title of "digital gold". In favor of the "cue ball" now speaks the fact that it is the oldest cryptocurrency, respectively, it had much more time to become and gain popularity than all its competitors. Moreover, bitcoin has become less volatile over the years. The current movements of the "cue ball" quotes are less volatile than, for example, in 2013, when the cryptocurrency rose in price by 350% in November. It should be remembered that the price of bitcoin started with a few dollars. Accordingly, the increase in the cost from $ 2 to $ 4 is 100% growth. How many such 100% were on the way to the mark of $ 58.5 thousand? Thus, some experts are confident that despite the high volatility of "digital gold" and the lack of regulation and security, it will continue to grow in the long term. The more owners bitcoin will have, the more it will be worth, the less volatility will be. As we said earlier, many large companies and investment funds abandon the "cue ball" precisely because it is too volatile. It turns out that in 5-6 years, when bitcoin may be worth more than $ 100,000, its volatility may decrease by 2 or 3 times. Consequently, it will continue to attract the largest investors and is increasingly used as a tool for hedging risks. From our point of view, only governments and central banks can prevent this, for which bitcoin is like a bone in the throat. But so far, there should be no serious concerns about this, since the Fed and the ECB regularly comment on cryptocurrencies, but so far everything goes without serious actions to regulate it.