The main digital coin has risen in price by 20% over the past two weeks and by 170% over the past year. We tell you whether the asset will continue to grow in price in the near future or it is time to get rid of the coin in order to play on the decline in the rate
At the beginning of 2019, the Bitcoin price almost reached the $ 9000 mark, but pulled back, slightly short of that level. Now the cryptocurrency costs about $ 8,600, growth over the past two weeks has been 20%, the amount of transactions is increasing, and new investors are coming to the industry. But, perhaps, now is not the best time to buy digital money, because the correction can begin at any moment. We asked leading crypto experts what to do with BTC – buy, sell or wait.
Do not buy
Andrey Khokhrin, CEO of Ivolga Capital, said that talks about Bitcoin and other cryptocurrencies again become as relevant as possible as soon as digital money begins to grow rapidly in price again. The expert suggested that the current BTC price is the next peak.
“It is not worth buying at the current levels. As for the instrument itself, its speculative potential is overestimated. Until 2017, the cryptocurrency grew in value due to its novelty and lack of supply. And this created a false perception of her as a source of high speculative income. And this is an ordinary currency, limited in its volume, not depending on the debt problems of a particular country. Its task is to change the value and exchange operations, ”added Khokhrin.
According to him, a wide range of fluctuations has formed on the Bitcoin chart – from $ 2,500 to $ 14,000 per coin. The center of this range is $ 8000-8500. This is the approximate target value of the cryptocurrency, says the CEO of the investment company.
Egor Klopenko, the founder of the iTLEADERS venture investors club, looks even more negatively on the future of the main digital coin. He called last year’s rise in the price of Bitcoin to $ 14,000 a rebound after falling from a historic high of $ 20,000. The expert predicted that in the future, the value of the asset will decline.
“The growth of the exchange rate at the beginning of the year is a statistically admissible fluctuation, given the low liquidity of the cryptocurrency – it is not supported by anything. Therefore, so far there are no growth drivers and reasons, both technical and even more fundamental for this growth. But Bitcoin is very speculative and, taking this into account, its dynamics may turn out to be unpredictable, although the general trend is a fall, “concluded Klopenko.
You can take
Xena Exchange CEO Anton Kravchenko explained the rise in the Bitcoin rate at the beginning of the year by rebalancing the portfolios of crypto funds to increase the share of BTC against other crypto assets before halving. Due to the fact that crypto funds often have lower bureaucracy, the rebalancing process takes place promptly in the first 3 weeks, and not 1-2 months, as in the traditional market, the expert added. In his opinion, an additional factor was a slight decrease in the USD index (estimates of the value of USD against other assets).
“Now we estimate the cost of mining at $ 5500, and after halving – at $ 11,000. There is an expectation that in 6-9 months after that the price will be difficult to stay below the $ 11,000 mark, and the upper limit will depend on the growth of BTC applicability”, – predicted Kravchenko.
In the current situation, the leading analyst of 8848 Invest Viktor Pershikov also spoke out for the purchase of cryptocurrency. He believes that it makes sense to invest in or hold digital money until BTC reaches $ 10,300 or until the total capitalization rises to $ 270 billion (now it is $ 238 billion).
“No significant negative events that could locally affect the value of assets are not expected in the near future, so Bitcoin has a chance to rise in price by 18-20% in the coming month. I look forward to continued growth in prices for the main assets of the cryptocurrency market until the end of January, “Pershikov suggested.
Experts have different views on the future of the first cryptocurrency. Most of them think that now is not the best time to buy, because the price of the asset will soon decline. And those experts who believe in the growth of the Bitcoin exchange rate cannot be 100 percent sure. It is a known fact: the digital money market is unpredictable. So we don’t get tired of repeating: investing in cryptocurrency is worth only those funds that you are ready to lose.