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Most experts, predicting the dynamics of bitcoin in the long term, tend to continue the "bullish" trend. In the short term, the No. 1 cryptocurrency expects a small rise, but stagnation is more likely, analysts say.
The beginning of this week "encouraged" the main digital asset: experts recorded another wave of growth. On Monday, August 19, the price of Bitcoin reached $10800, an increase of $1000. The catalyst for the rise was the announcement of the launch date of futures contracts of the platform Bakkt.
Some analysts believe that in the near future, bitcoin will be able to gain a foothold in the market of institutional investors. However, other experts believe that the arrival of institutional investors does not mean increased pressure on the side of buyers.
According to cryptocurrency strategist Ayash Jindal, BTC will rise to the level of $11000 in the near future. However, in case of falling below $10600, there will be risks of collapse to $10200 and to the next support levels – $10000 and $9800.
A number of analysts assume that the current growth of bitcoin is a short-term phenomenon since technical indicators are not on the side of "bulls". However, according to crypto-enthusiast Alex Kruger, the long-term forecast for Bitcoin is "bullish", and the key support level is $ 9000. According to the analyst, a breakthrough at this level will lead to a rapid drop in BTC to $8500. "In 2020 or 2021, bitcoin will overcome the bar of $20,000. After that, it can quickly rise to $30,000, $40,000 and $50,000," A. Kruger sums up.
Currently, investors are re-accumulating the No. 1 cryptocurrency, after major players took profits near the mark of $14000. According to Tom Lee, an expert of Fundstrat Global Advisors, bitcoin will significantly increase in price by the end of this year. The analyst does not exclude updates of the historical maximum. In the last few weeks, the digital asset has established itself as a "safe haven", says Tom Lee. He is sure that bitcoin can be called a safe asset, with which it is easy to survive the crisis in the world market.
Some analysts believe that the dynamics of bitcoin resembles a mirror. On the one hand, it is visible growth, and on the other side – a constant balancing between the fall and rise.
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