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On Tuesday, Bitcoin was trading near $43,400. According to statistics from CoinGecko, a popular online platform that fixes prices for virtual assets, Bitcoin's capitalization is $823 billion.
The top digital asset gained 12% over the past week and was trading at $45,000 on Tuesday for the first time since January 5. Last November, BTC soared above $69,000, but lost more than 37% of its value over the next couple of months.
Bitcoin's roller coaster trading makes experts make the most unexpected predictions about the future of the cryptocurrency market. Thus, analysts from Bloomberg claim that by the end of February the price of BTC may reach $50,000.
Yesterday Bitcoin reported six consecutive days of growth for the twentieth time since March 2020. Having studied the cryptocurrency's behavior patterns since the beginning of the coronavirus pandemic, experts noted that after such long permanent phases of increase, in the next three, five and twenty days, the value of the coin gained an average of 4.1%, 5.3% and 18.5%, respectively.
Based on such research, Bloomberg analysts concluded that Bitcoin may hit $50,000 by the end of this month. However, experts announced the day before that thanks to increased demand from investors, BTC will cost $100,000 by the end of 2022.
The US research company FSInsight representatives are sure that in the coming year Bitcoin will cost more than $200,000, and Ethereum - about $12,000, which supports optimistic scenarios of strategists of Bloomberg.
That's all with positive forecasts. Analysts are extremely distrustful of BTC. So, JPMorgan analysts reduced the fair value of BTC by 12% from the current quotations at the level of $43,400 to $38,000.
The main problem for the growth of Bitcoin, according to the bank, still remains its high volatility, as well as the cycles of ups and downs, which prevent institutional investors to treat cryptocurrency as a reliable asset.
At the moment, bitcoin's volatility is about four times higher than that of gold. If this ratio drops by three times, experts said, the fair price of the coin may rise to $50,000.
In this case, the long-term target for the value of Bitcoin (the value at which the market capitalization of BTC will be equal to the level of private investment in gold) from strategists at JPMorgan is $150,000.
According to a survey conducted by the bank the day before, more than 40% of their customers are confident that by the end of 2022 the value of the first cryptocurrency will reach $ 60,000. At the same time, only 5% believe that BTC will be able to break through $100,000 by December.
The British publicist and historian Niall Ferguson recently shared a maximally pessimistic forecast for Bitcoin's future. In the opinion of the cryptocurrency skeptic, the BTC will fall to $11,515 this year, 83% below its November all-time high. Ferguson explained his apocalyptic scenario by the historical dynamics of fluctuations of the main cryptocurrency.
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