The first cryptocurrency, most likely, will not be able to reach the level of $ 200,000 by the end of the year, experts of the 10X Research analytical company said.

In 10x Research, they estimated the likelihood of an increase in bitcoin to $ 140,000 by only 54%. Experts explained their conservative forecast by a slowdown in the influx of capital from large institutional funds and a large -scale sales of asset by miners.

In addition, the third quarter is historically characterized by the weakness of quotations, and in it the first cryptocurrency almost always demonstrates negative dynamics. The coefficient of purchase and sale of bitcoin decreased to -0.945, which indicates the dominance of sellers. Similar indicators were in November 2021, when a deep correction of the course began, experts noted.

In their opinion, the market is dominated by pessimistic moods among traders and investors. Until there are strong fundamental factors, the price of bitcoin will be within the existing range with weak volatility.

Previously interviewed by The Block, analysts said that after the price of bitcoin collapsed below $ 110,000, there is a high risk of further falling of the first cryptocurrency quotations.