Source: Sharecast
"The crash in its price has been simmering for weeks," acknowledges Simon Peters, cryptoasset analyst at eToro.
"The moral is that all markets have ups and downs, but crypto is still a new and volatile asset class that still needs to be tested in an inflationary ecosystem," Peters adds. "Investors should therefore avoid making decisions based solely on their price," he advises.
What if it falls below $10,000? The odds of this happening have remained unchanged at 21%, according to the study. In addition, the most likely alternative is that the leader of cryptocurrencies will put an end to 2021 above $ 50,000, with 52%.
"The idea of investing solely and exclusively to speculate is going to lose steam, and that is a good thing," says Barry Norris, of Argonaut Capital. Norris's words make special sense when you consider his crypto-skeptic past (and present) backed by getting a 50% return by going short on MicroStrategy.
"Most people who refer to crypto with even religious reverence have no idea about investing ... let's see where that gets them," Norris cautions.
IS THE BITCOIN SO BAD?
"There are small details that invite optimism in bitcoin after a collapse from the annual and historical highs ($ 65,520)", concedes the technical analyst of Bolsamanía, J.M. Rodríguez, despite the fact that "we still don't have a return as such."
"Everything suggests that bitcoin can attack at any time the important resistance it has at $ 41,335: June highs and last declining high," he concludes.
OTHERS SEE IT AT $ 12,800
The growth forecast of assets such as bitcoin estimates the maximum value of the cryptocurrency at $112,800 by 2022, according to a study published by StormGain, a leading international platform in cryptocurrency trading, which raises and studies the main risks for the cryptocurrency market .
Translated by Caoimhe Toman
