Analysts have called the condition for the growth of Bitcoin to $ 40 thousand.

Analysts have called the condition for the growth of Bitcoin to $ 40 thousand.

28.12.2020
bitcoin record-min

The first cryptocurrency set a new historical maximum in price, having risen in price above $ 28 thousand. Michael van de Poppe is sure that this is not the limit, and BTC may grow by almost 50% more. However, Ethereum has even higher potential.

On December 27, the bitcoin rate set a new historical maximum, rising to $ 28.2 thousand. Then the price of the first cryptocurrency sharply corrected below $ 26 thousand. By 11:40 Moscow time, the rate partially recovered to 27 thousand, according to the coinmarketcap.com service.

Since the beginning of the year, BTC has risen in price by 275%. But analyst at the Amsterdam Stock Exchange, Michael van de Poppe, believes this is not the limit. In his Twitter account, he wrote that a rise in the rate of the coin to $ 40 thousand is possible if he can gain a foothold above the level of $ 25.8 thousand. The expert added that the more bitcoin prices rise now, the higher its price can rise during the next impulse growth.

Following Bitcoin, altcoins will rise in price, the expert suggested. He explained that when the growth of a major digital coin slows, capital will begin to flow out of it into smaller-cap assets.

Van de Poppe added that Ethereum also has strong growth prospects. While its rate is holding above the $ 470 mark, it remains possible for the altcoin to rise in price to $ 1.2 – 1.3 thousand and even update the historical maximum of $ 1.4 thousand, the analyst admitted. According to his forecasts, this may happen in the first quarter of next year.

In October, Poppé predicted a rise in bitcoin price to $ 100 thousand. Such a scenario is possible, provided that the dollar continues to weaken. There is a reverse correction between the assets, the weakening of the dollar has always contributed to the growth in the value of the cryptocurrency, the expert argued.

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