[ad_1]
Bitcoin investors have already seen strong fluctuations this year. The oldest cryptocurrency has now digested the collapse in March, but there is currently no clear upward trend. That could change if the crypto event of the year were to take place, according to an expert.
• Bitcoin will probably benefit from the halving event
• Expert believes that $ 300,000 is possible
• The next price drop is also likely to be more moderate
In an interview, financial analyst Preston Pysh recently seemed surprisingly optimistic about Bitcoin’s long-term price performance. He believes that the number 1 cryptocurrency will have significantly greater potential than other Bitcoin bulls in the coming years.
Display
Would you like to trade currencies? Our guide gives you tips for currency trading.
»»
Currency trading
After 6-digit halving in possible dollars
In the podcast interview with host Nathan Lathka, Pysh refers to one of the crypto events of the year, bitcoin halving. As a result, the block reward for Bitcoin miners is cut in half, as of right now miners only get half, i.e. 6.25 BTC, for mining a Bitcoin.
Display
Buying Bitcoin is quite complicated and time consuming.
»»
Here you can easily buy and sell Bitcoin
The event is pre-programmed, such an event occurs every 210,000 blocks, which means on average every four years. The Bitcoin community already has high expectations in advance, because halving the block reward is generally supposed to go hand in hand with rising Bitcoin prices.
This is also believed by Preston Pysh, who believes that Bitcoin can make a massive price jump. “I think it will only go up to $ 100,000 and then stop? Damn it, no. It will go through that number. It will probably go from $ 200,000 to $ 300,000,” said the financial analyst. .
And even if he believes that the new highs will lead to falling prices again, his forecasts for falling prices remain far more subdued than those of other experts. Pysh believes that Bitcoin will hold between $ 80,000 and $ 100,000 until the next half in four years.
Bitcoin as a taker of dollar weakness
The expert also noted a weakness in the dollar. The decline in the value of fiat currencies is seen by many other experts as a determining factor in the price of Bitcoin. Central banks around the world have announced landmark measures to cushion the impact of the crown pandemic on the world economy. This leads to an avalanche of liquidity, which fuels investors’ concerns about inflation. Gold, but also Bitcoin, are speculators in this market environment, it is possible to escape from investors in Bitcoin & Co.
Furthermore, the growing acceptance in the mainstream is likely to be driven by inflation concerns and further aid the price of Bitcoin.
It remains to be seen if Bitcoin’s price will actually rise to $ 300,000; most experts’ forecasts are significantly lower in some cases.
Editorial office finanzen.ch
[ad_2]
