Bernstein believes that the pessimistic forecasts of prolonged stagnation or the fall in the cost of bitcoin are unjustified. In fact, the situation is not as depressing, as some researchers suggest.
“We are still convinced that the level of bitcoin price of $ 100,000 is not the pinnacle of the current cycle, and the market has several ways for further growth. There is a possibility of the formation of a new historical maximum at $ 200,000 by the end of the year, ”the report indicated.
The stable influx of institutional capital in cryptocurrency exchange funds (ETF) and the growing participation of corporate counterparties investing their funds in the first cryptocurrency can become catalysts to increase the price of bitcoin in the medium term, analysts are convinced.
If during the year high volatility is preserved on the market due to macroeconomic risks and actions of US President Donald Trump, then a delay in reaching Bitcoin maximum in this cycle is possible, and Bernstein suggest.
As for forecasts for other crypto industry segments, experts believe that stablecoins and tokenized assets of the real world (RWA) will perform the main “locomotives” of the market – they will demonstrate the largest growth in the conditions of a transparent regulatory environment.
Earlier, representatives of the Matrixport financial platform reported that, despite the drop in bitcoin quotes, the dominance of the first cryptocurrency in the market reached a new cyclic maximum, exceeding the previous peak.
Source: Bits
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