Meltem Demirors, the chief strategy officer at CoinShares, thinks that Bitcoin (BTC), the most popular cryptocurrency, will reach new all-time highs in the next 24 months, even though Bitcoin (BTC) may still fall more. If you want to start investing in Bitcoin you should do thorough research and learn more about Bitcoin trading.
On the other hand, Demirors said that there was strong support around $20,000 and that she didn’t think Bitcoin would go below $14,000. She said that the suffering will end in the year 2024.
The price of Bitcoin has gone down by 2% in the last 24 hours, and it is down by 72% from its all-time high. Right now, the cryptocurrency is worth $19,401.
But Demirors doesn’t see “any immediate up triggers,” so a change might not happen for a while. This could make it harder for crypto projects that aren’t as strong.
Demir said that she thought the bear market would wipe out a lot of crypto assets, similar to what has happened with tech stocks.
Louis Schoeman is one of these people. He runs the website Forex Suggest and has a similar point of view. In a recent interview with 9News, he said that the current bear market in cryptocurrencies could be the reason why as many as 90% of all cryptocurrency projects fail.
Schoeman said, “This is a cleaning process,” and he said that only the strongest cryptocurrency businesses will make it through this bear market.
A billionaire businessman named Mark Cuban said earlier this month that he doesn’t think the cryptocurrency bear market will end until business apps get more attention.
Cuban also thinks that mergers between different blockchains and protocols will eventually lead to the consolidation of the cryptocurrency market, because “that’s what happens in any business.”
Wednesday, the market was more optimistic about the chances of inflation slowing down and the strength of consumer spending. The biggest cryptocurrency was traded for $24,000, which was a 25 percent increase from the week before.
Moya says there are signs that Bitcoin will soon be stable, but it’s possible that the market is not yet out of the danger zone. Several times in the last few weeks, the price of bitcoin has fallen below $20,000. This is a big price, and he says sellers are keeping a close eye on whether or not the lows in June will hold.
The last time prices went down for cryptocurrencies was in June. Wall Street tried for a short time to cut down on risks, and this is what happened. e. In the past few months, there have been more connections between the cryptocurrency market and the stock market. This has made the sector even more linked to many parts of the world economy.
Hiesboeck says, “The market remains fragile and tense, not because more crypto businesses might fail, but because of the terrible state of the economy right now.” “To put it another way, the supply of gas to Germany has a bigger impact on the price of bitcoin than any news or metrics about crypto,”
Only a few times in the last six months has Bitcoin’s price being higher than $45,000 for a short time. It hasn’t been more than $50,000 since December 25, 2021. Bitcoin’s price is still a long way from its all-time high, which it hit in November when it went up to over $68,000.
This did happen, even though the price has gone up and down. But even though the price of Bitcoin has gone down recently, it is still worth more than twice as much as it was a few years ago. The price just went down, but this is still true. Since Bitcoin is a digital currency, it is normal for the price to change like this.