What's the next step after Bitcoin hits all the time?

What's the next step after Bitcoin hits all the time?

It used Bitcoin for six months to peak at nearly $ 65,000 in April. Now that the cryptocurrency's price has hit $ 67,000, market analysts have set the price higher.

Bitcoin's recent rally above its all-time high of $ 66,000 sparked a new wave of speculation that the cryptocurrency's value more than doubled at the start of the year.

Ben Kesling, head of research and strategy at the AAX cryptocurrency exchange, told CoinDesk: “It takes a long time for Bitcoin to reach all the highs.

The price is now expected to hit the $ 100,000 level, and more and more industry analysts are using it as a new value.

The Bitcoin blockchain has a 12-year history, and traders in the digital market and Wall Street are paying more attention to cryptocurrency than ever before. So now that the price has reached all-time highs, analysts have revised their structure and carefully examined the charts to predict what will happen next.

Bitcoin's value has risen by more than 50% this month alone, supported by the initial approval by US exchange-traded funds (ETFs) regulators for Bitcoin futures contracts. The ProShares Bitcoin Strategy ETF went public on the New York Stock Exchange on Tuesday and posted $ 570 million in assets and $ 1 billion in profit on the first day. It is one of the best performing ETFs. .

The previous trading record was $ 64,889 in April. Since then, market experts have decided to mark the prize up for grabs. Now that there are less and less market signs, the outlook can be difficult to predict.

What does the picture show?

CoinDesk's Dammanick Dante wrote on Wednesday that $ 86,000 could be the next major bullish price, depending on the interpretation of the signal price chart.

“Everyone's eyes are on the $ 100,000 line, but $ 100,000 will not be the end of the day as more and more investors are opening and more and more accounts for Bitcoin, including Physical ETFs, ”Keslin Say said.

CoinDesk has contacted the top analysts in the market for information. This is where they see the market going.

Speed: not everyone has hope. Some analysts say it will be difficult for Bitcoin to earn more than $ 60,000.

stress

• Matthew Dieb, COO of Stack Fund: Since the creation of the ProShares ETF, many investors have been involved. Financial futures in the futures market, which reflect investors' willingness to pay for the game, have risen, but have yet to hit the highest levels seen in a year. “Our next goal for the short-term Bitcoin space is $ 80,000,” Dieb said. He said he expects some investments to be traded from Bitcoin to Ethereum and other digital assets, the primary cryptocurrency in the Ethereum blockchain, as market confidence builds up in the medium term. , did he declare.

• Ulrike Luck, Founder of ARK36: "I wouldn't be surprised if Bitcoin hits $ 100,000 in Q4 2021 or Q1 2022."

• Juan Pelise, Research Advisor at IntoTheBlock: “This growth is an important representation of Bitcoin-enabled consumers. "

Investing.com Analyst Samuel Indik: As with previous major incidents in the cryptocurrency market, this can be fixed. It quickly turned into a bear market and it took almost three years for the price to recover. "

What another analyst said

Oanda's chief market analyst Edward Moya said rising oil and gas prices could lead to further scrutiny of the Bitcoin network effort. This is especially true when winter arrives in the northern hemisphere.

"If winter can cause energy shortages in many countries and affect electricity consumption, the government will take action," Moya warned. Number of count transactions.

If you open Bitcoin in my cold hands I'll give you my Bitcoin

Unlike bank accounts, cryptocurrencies cannot be forced by the government to regain a small amount of personal power.

Mark Hawkstein is the editor of CoinDesk and former editor of financial services publication The American Banker.

The following article first appeared on CoinDesk Weekly, a personal newsletter for consumers every Sunday.

Sometimes it's important to revisit key cryptocurrency concepts.

At least outside of technology, the most amazing thing is that Bitcoin and others can give people more financial freedom.

I think the reason it's underrated is that, like privacy, it's one of those virtues that no one values ​​until autonomy is gone.

Do you own a bank? Oh good?

Looking back, "Build your own bank" was a favorite phrase of early cryptocurrency users. This confuses Bitcoin skeptics with misconceptions.

Management values ​​are tedious, mind-boggling and cluttered. Some digital experts don't think it's beyond the skills of the average consumer.

However, there is little patriarchy in this verse. After all, people still cook their own food (this practice includes knives, fire, and sometimes animal disease!) And drive their cars (for now).

Again, why would anyone dare to use a wallet or mnemonic to recoup a sentence when they could post a special bond with a supervisor? In the United States, if the Federal Deposit Insurance Corporation loses unemployment benefit, the Federal Deposit Insurance covers your balance for $ 250,000.

You can get incredible interest and peace of mind that cannot be imagined in Bitcoin trading. (Don't worry, the clerk won't create an unauthorized account on your behalf to reach your sell limit.)

From this narrow perspective, setting up your own bank account seems more of a problem than it needs to be.

To the right

But let's zoom in on the lens a bit.

Public property insurance seizes land for free (whether or not it is convicted or prosecuted by a citizen accused of a crime, for example, a criminal law enforcement organization may seize property of citizens accused of trespassing) and property; consider slow and continuous erosion. .

Next, consider the lack of legal protection in many countries. Finally, on top of this stress, the amount of physical wealth has been cut all over the world. At least you can put it in your socks.

Immediately, the confidence and control of financial companies began to emerge as a potential recovery.

From this point of view, choose your own bank and spend at least part of your fortune to look better.

buildings

Inbee 4

Scarecrow: I don't mean cryptocurrency users are 'compliant'. People who refuse to change their personal keys by a court order will also be jailed.

The important thing is that the government put the prisoner in jail or keep him in a beautiful coffin to be listened to. You cannot unilaterally take his money.

Cryptocurrency insurers can borrow quotes from actor and gun lawyer Charlton Heston ...

In doing so, cryptocurrencies have gained momentum for humans.

In a blog post, Tel Aviv-based Bitcoin user Nathan Cook explained the key history behind these new benefits.

In an article first published two years ago, he wrote:

“Bitcoin owners haven't faced the challenges that owners of other assets have changed. 'Am I entitled to be respected?' Its value will drop to a fraction of its value, but whoever owns it will get what he has. "

Clearly, that's no reason to empty your check or 401 (k) and put everything in cryptocurrency (another scarecrow you see in the media a lot).

However, this is a very good reason to be thankful for Bitcoin's presence in the world.