MOSCOW, March 4. / TASS /. The cost of bitcoin by the end of 2021 may reach $80,000 - $100,000 and in the next few months the price of the cryptocurrency may rise to $60,000, the General Director of the Swiss financial company Newcent told TASS on Thursday.
On March 3, bitcoin during the trading session grew by 10.54%, reaching a level of $52,576 dollars, according to data from the CoinDesk portal. "Within 1.5-2 months, the cost of bitcoin, according to our forecasts, may rise to $60,000 dollars, and by the end of the year to $80,000 -$100,000," Smetanin said.
Smetanin noted that in the last two weeks the cryptocurrency market was in the overbought phase, after which the expected correction followed. "From late February to mid-March, sentiment in all markets is traditionally neutral-bear-ish, each year at this time, there is market correction. Therefore, we assume that until mid-March, either neutral or corrective sentiment will prevail, and during this period bitcoin could drop to $30,000. In 30-45 days, we expect bitcoin to rise to $60,000 and more," he explained.
At the same time, according to Smetanin, even with the growth of the cryptocurrency rate, you can continue to enter the market, investing 3-5% of your investment volume and buying an asset at the current price for 30% of the allocated volume. "In this case, with a drawdown of an asset, it will be possible to buy in addition by 30%, with an increase, sell and fix a profit and have 30% in the cache in case of other investment opportunities. At the same time, you need to open positions in cryptocurrency for a period of two to three years," he concluded.
Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without intermediaries. Bitcoin's popularity has only peaked in recent years.