Saturday, 27 November 2021
One-fourth of fund managers expect that the price of bitcoin surpass over $75,000 Shutterstock

One-fourth of fund managers expect that the price of bitcoin surpass over $75,000

Written by  The Dubrovnik Times Nov 24, 2021

Still, as you know, bitcoin is an uncertain cryptocurrency that means the price of bitcoin is non-controllable. It depends upon the various factors that influence it. Bitcoin’s major influencer is demand and supply. There are a lot of factors that affect the demand and supply of bitcoin, such as trendy bitcoin positive and negative news and the latest government announcement—the viral activities with bitcoin, social media posts, tweets, etc. In recent days, the price of bitcoin has skyrocketed, breaking previous records of bitcoin. According to the latest data, the fund managers expect the price of bitcoin to increase in 12 months. This article will discuss the expectation about bitcoin’s price rising according to one-fourth of fund managers. So without wasting time, let’s explore the latest news on bitcoin value rising.

Bitcoin in brief:

Before going further, first, we have to take a glance at the bitcoin cryptocurrency. Bitcoin is a volatile currency that means every second, the price of bitcoin fluctuates because of different factors that affect it. There is no controller or manager of bitcoin who can control the bitcoin. Instead, there are a lot of bitcoin miners who are working behind the bitcoin network.

Bitcoin will exceed over $75,000:

According to the bank of America, one-fourth of fund managers said that the price of bitcoin will increase more than $75,000 in twelve months. Of course, Bitcoin is a volatile currency, and the price may increase or decrease, but it is not sure. Still, these fund managers have measured the facts, and they are expecting that the value of bitcoin will surpass over $75,000. Click on the latest version of bitcoin trader for more details.

In the last week, the price of bitcoin touched up to $67,585, the highest streak of bitcoin ever. The current price of bitcoin at the time of writing this article is 60,163 dollars, decreasing at four per cent compared to last day's worth. According to these funds managers, there are a lot of people with different expectations given below:

  • Price will remain the same
  • Price will fall
  • Price will increase a little bit

Price will remain the same:- Some people expect that the cost of bitcoin will remain the same between $50,000 to $60,000, and it will not increase or decrease between the mentioned amounts.

Price will fall:- There are some people with expectations that the value of bitcoin will fail because it is already at its peak. The cost of bitcoin at the starting year was 29,000 dollars, and now the price of bitcoin is 60,163 dollars, which is very high. They expect that the price of bitcoin is already at peak, and now the price will fall between $25,000 to $50,000. They are waiting for the price to drop, and when the price gets down, they will invest in bitcoin.

Price will increase a little bit:- There are people with expectations that the value of bitcoin will increase a little bit but not much higher.

How will the price of bitcoin increase?

There are a lot of bitcoin investors who hold bitcoins for the long term. Bitcoin investing means keeping the bitcoin for more than two years because people know enormous earnings in bitcoin investing. The price at the start of 2021 was 29,000 dollars, and the current price of bitcoin is 60,000, which means dubbed the price. If you had invested money in bitcoin at the starting year of 2021, then you would have doubled the amount you invested.

Bitcoin investing means holding the bitcoin for the long term. Supply in the market will decrease because there will be no bitcoins remaining to trade on the network. The demand for bitcoin is increasing, but the supply of bitcoin is low, which means most of the bitcoins stored in the wallet for years. Many people have held bitcoins to earn huge money, and the most prominent example is the transaction of 13 November.

In the recent transaction on 13 November, the bitcoin blockchain revealed that a bitcoin wallet holder did a bitcoin transaction worth nearly one billion. Which means he transferred 15,078 bitcoin to an anonymous wallet. He did not move the bitcoin to an exchange wallet, which means he does not intend to sell it; he will still hold it for the future. So there are a lot of bitcoin holders who are not selling bitcoins, so the price of bitcoin will increase in the future.

 

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


Find us on Facebook