Analysts Differ On Where Bitcoin Will Go Soon.
21 Jul 2021, 08:00
Analysts Differ On Where Bitcoin Will Go Soon
Some analysts think that the price volatility that has been plaguing bitcoin over the past few months is about to get a whole lot crazier.
The Bitcoin Volatility Is About to Get BiggerIn mid-April of this year, bitcoin – the world’s number one digital currency by market cap – hit a new all-time high of approximately $64,000 per unit. Everyone thought that the currency was untouchable and that things were likely to keep heading north. Unfortunately, this has not been the case. Bitcoin is now stuck dealing with a series of heavy losses – losses that have brought its value and price down to about half what they were three months ago.
And according to many analysts, we are not out of the woods yet. In fact, the price volatility is about to become much stronger. This could be a good thing in that volatility can move in either direction. BTC could find itself falling further, or things could improve heavily over the next couple of weeks. Either way, financial experts are quite certain that interest in bitcoin remains high, and thus the currency could wind up making its mark on the financial industry all over again.