In mid-June, the fall in the price of Bitcoin had a very strong impact on the cryptocurrency market. However, the trend appears to be deteriorating as the market began last week with a total capitalization of $ 867 billion to end at $ 955 billion. So the cryptocurrency market is currently in the lock after recovering almost $ 90 billion in one week.
A little about bitcoin
The price of Bitcoin has also recovered from its $ 17,567 value on June 19 to reach $ 21,222 at the time of writing this report. So it follows the trend of the global market, with an increase of almost 20%.
What about this bear market?
Despite this anxious bear market, it is interesting to note that hedge funds focused on digital assets remain bullish on the first cryptocurrency. In fact, despite this generalized bear market for all cryptocurrencies, Bitcoin retains its character as a a safe bet in the eyes of big investors and analysts.
They acknowledge that this event will undermine a large number of assets and blockchain. On the other hand, initiatives that show real value should last and even reach higher levels than previous ones.
Bertrand Perez, CEO of the Web3 Foundation, says:
We are in a bear market. And I think that’s a good thing. This is a good thing, because it eliminates people who were there for the wrong reasons.
These statements are encouraging in a context where the majority of investors decide to sell or withdraw their cryptocurrencies from en masse exchanges.
Bitcoin at $ 100,000 in 2025?
Most optimistic worth considering that Bitcoin could reach $ 100,000 in the coming years. Here is an opinion Mike McGlonesenior commodity strategies at Bloomberg:
Right now, I expect Bitcoin to trade lower – not sure how much […]. But whatever happens, I fully expect it to reach $ 100,000 in two years.
In addition, Forbes confirms the strength of Bitcoin considering this cryptocurrency influencing the fight against income inequality. This is by facilitating ownership and ensuring proper listing. For this essential source of information, Bitcoin presents itself as a long-term reality.
Of course, a utopian look is hitting $ 100,000 by 2025 these days. Binance’s boss thus confirmed that it would take at least 2 years for Bitcoin to recover its $ 69,000 ATH. In short, the forecasts are just going well planning seems complicated in such a volatile market.
However, those forecasts suggest more than optimism Large investors still believe in this market, despite the few catastrophic events (Terra, 3AC, Finblox, Celsius, etc.). Exciting news for the crypto market!
Crypto-assets are a risky investment.