In a tumultuous market, can Bitcoin break new records before the end of the year?

The Bitcoin market will continue to change. Recently, cryptocurrencies have faced heavy regulation and the market has had a major impact, regulatory efforts in many countries have created unstable commodities in the repair industry, which has been weighed down. after market problems.

Judging by the current market, it is indeed in a state of confusion. The recession has so far taken hold and has not reached new lows. , but the market still faces additional risk after the price of Bitcoin. fell to $ 39,566. It quickly recovered, then traded between $ 4 and $ 44,500, and ETH fell several times below the $ 3,000 level and managed to rise and fall to almost $ 3,000.

Affected by the volatility of the Bitcoin and Ethereum market, the overall cryptocurrency market is not good, all the downsides are real and there is no position with a further increase in listing increases .

In the current situation, market sentiment also shows that there is interest in the bottom. The nighttime heart rate was 20, the lowest since July 22, and showed a state of horror. The performance of panic is very evident.

Galaxy Digital CEO Mike Novogratz believes the market is now in a "joint venture" and adds that it is important that Bitcoin remains at the $ 40,000 level. However, he doesn't rule out Bitcoin going back to $ 38,000 before seeing further gains. For now, he hopes the market will continue to change.

However, Mike Novogratz predicted on Wednesday that Bitcoin would rise further by the end of 2021. He argued that a rotating horse near the bottom line would win. So at the end of the year, the best home improvement courses and the best home remedies are usually the best. The co-founder of US private equity firm ThomasBravo also said he was "very excited" about bitcoin and investing in it.

According to this prediction, the next Bitcoin rally will take place at the end of the year, which means confidence in the bull market remains this year, Bitcoin will peak full time this year.

Bitcoin Market Trading aside from the frustration of monitoring, judging by the current market share, the overall performance is good. Looking at the performance of consumer markets, interest in cryptocurrency has increased.

Nickel Digital Asset Management, a European investment management firm, surveyed 50 property managers and 50 companies in the United States, United Kingdom, France, Germany and United Arab Emirates from May to June. represents 62%. Schools that have used cryptocurrency will enter campus after one year. The main drivers of entry into this space are the potential for long-term investments (47%), the number of companies and executives investing in cryptocurrencies, and the growth of people trusting cryptocurrencies as their than active (44%). .

41% of respondents said improving environmental management is a good thing. In addition, the number of cryptocurrency holders around the world has increased, and the CEO of Coinbase said that 20 million people in the United States have access to cryptocurrency. Many hedge funds have invested in cryptocurrencies. According to a survey of South African crypto members by data and market research firm KLA, 15% of South Africans own a cryptocurrency, the second highest in the world and the second highest in the world. world. . This means that South African investors are experimenting with cryptocurrency investments.

The UCK also noted that 36% of South Africans plan to invest in cryptocurrencies in the future. According to a KLA survey, 43% of South Africans said their main reason for investing in cryptocurrencies was to gain significant benefits from short-term investments. Judging from the statistics for Bitcoin itself, the current situation is just as interesting. According to data from Glassnode, the Bitcoin offering, which has been operating for more than a decade since its inception, has hit a high of 2,313,532.814 BTC.

According to recent data filed with the United States Securities and Exchange Commission (SEC), BlackRock, the regulator of the world's largest asset, held $ 10.8 million in CME Bitcoin futures in August. . The finance company had 54 long-term contracts expiring August 27, valued at $ 360,457. BlackRock debuted in the Bitcoin futures market as early as 2021. At the end of May, it announced that it held 37 long-term contracts with a face value of US $ 6.5 million. In January of this year, the company approved Bitcoin exposure for two currencies.

Having multiple long-term contracts is an important part of a strong business. Overall, the current positive situation in the Bitcoin market remains significant, and despite the oversight, the market's confidence in long-term growth still dominates any marketing benefit. So while there is still a short-term downside risk, the long-term uptrend remains unchanged. for