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In recent days the value of the cryptocurrency fell again then having reached the ceiling of the $ 50, 000 dollars per unit, which appeared to be fueled by new confidence from digital money investors.
This Monday bitcoin reached $ 47, 280 per unit , a price that has not been available since May. And today it begins to trade down again, in the last 24 hours this digital asset has fallen by up to 4%. At the time of writing this note the price was about $ 47, 280 dollars per bitcoin currency.
“The price of # BTC has been on a rapid rebound since late July in what has been a rollercoaster ride for the crypto asset in 2021, “Simon Peters said. https://t.co/BgW0JtM 454
– Bitcoin News (@BTCTN) August 22, 2021
The price of Bitcoin is still unknown for many people; However, we always find the possible reasons why this cryptocurrency explodes or not. Lately, according to analysts, the responsibility for a possible rise is due to the expansion of the services of the PayPal platform in the United Kingdom to accept payments and transactions in bitcoins.
We are talking about a new increase of 70% since the bitcoin had dropped from the $ floor , 000 dollars per unit . The question is now how far it will fall again.
The truth is that with bitcoin it is difficult to know if we are facing a bearish or bullish market, on all this 2021, year in which the cryptocurrency in question has bounced so much.
What is expected to happen to Bitcoin in the coming weeks
Most analysts’ forecasts are quite optimistic and there is talk of a rebound with a peak of up to $ 100, 04 dollars per unit of bitcoin . Perhaps it is still too early to be that positive because bitcoin is down again and far from that enthusiastic high that it achieved at some point in $ 75, 000.
You may be missing a A new boost like the one usually given by personalities like Elon Musk, who every time he mentions bitcoin or hints at something, has a consequence on its price. The last mentioned was during the “B Word Conference” in which Musk spoke about the ecological issue and assured that he would continue investigating until confirming that the use of renewable energy was of 50% or higher. In this way your company, Tesla, would be willing to accept the cryptocurrency again in question, “it is most likely” assured Musk.
Before this, during the month of June Musk posted a tweet with a ‘meme’ that referred to the breakup of a couple and added the Bitcoin and a broken heart icon to his tweet. This hint of a breakout managed that nothing else in the first hours of that day, the bitcoin traded below the 36, 000, fell 8% compared to the previous day’s price.
But If we go back to those who believe the experts we have that a rebound of the cryptocurrency is expected, it is believed that BTC will find a lot of resistance so it is better that it moves in the short term, above its previous maximum of $ 64, 000.
While another group of analysts even think that other cryptocurrencies, such as Ethereum, have more opportunities than bitcoin , even with due caution or the expected government regulations.
Of course, optimists have their weight, and even if it is not for next week, recently Mark Yusko of Morgan Creek capital management spoke of a bitcoin into a quarter of a million dollar two years from now. Although Yusko bets on a bitcoin by the end of 2021 in $ 70, 000 Dollars.