According to Chang, the recent correction of the course of the first cryptocurrency was useful for the asset, since thanks to it a stable basis for the subsequent rally coin was created.
Despite the fact that bitcoin is characterized by high volatility, in crisis periods on the market it is perceived by investors as a profitable risk hedging tool, the expert noted.
“Such moments are rare. They happen only when the market doubts the stability of the financial system in which the US dollar dominates, ”Chang said.
In his opinion, Bitcoin can already reach $ 210,000 by the end of the year. In conditions of macroeconomic uncertainty, the first cryptocurrency will become an increasingly attractive asset for both countries and private investment structures.
Earlier, analysts of Bernstein brokerage company said that the short -term correlation of the first cryptocurrency with gold or the Nasdaq stock exchange indices is misleading the market participants and called for attention to other indicators.
Source: Bits
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