• Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
What's Hot

How Rising Tobacco Prices are Affecting Smoking Cessation Around the World

March 8, 2023

Is it possible to buy NFT and help the Ukrainian army at the same time?

February 17, 2023

Ukraine Stands Strong: The SpendWithUkraine.com Initiative

February 2, 2023
Facebook Twitter Instagram
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
Home»Crypto»The hype for Bitcoin remains high, very high
Crypto

The hype for Bitcoin remains high, very high

Donald MunnBy Donald MunnJune 15, 2022Updated:September 29, 2022No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Hype is not everything, but it helps a lot, and more so in a world where trust is king. 

Skepticism, frequently playing a role in the crypto environment, makes it seem very niche and complex, in part it is, and its gradual but slow spread is testament to this. 

Precisely when the markets were opening up to blockchain and crypto in general, this “trust” suffered the worst blow. 

The economic situation, with the supply chain crisis due to the difficulty of finding raw materials, the repeated Covid pandemic with the consequent lockdowns that have caused a sharp slowdown in the economy, inflation caused by an excessive booster of money by the Central Banks (above all the Fed), and last but not least the war in Ukraine involving half the world, have created a climate of uncertainty that we are unfortunately living with. 

Against this backdrop, the Terra/Luna ecosystem meltdown, which has shown the fragilities of the Crypto world, has severely undermined investor confidence, which nonetheless, based on the latest surveys, remains high on Bitcoin. 

BTC‘s script, its history, and investors’ perception of its concreteness continue to make the crypto par excellence still firmly in the hearts of insiders.

Emblematic is the latest survey, which, despite arriving when Bitcoin touches $24,138.60, the result of another 9% drop, gives an injection of confidence to the sector by highlighting not only that 42% of investors believe in the cryptocurrency’s recovery but that it will return from the current $24,000 to between $75,000 and $100,000 by the end of the year. 

A nice booster to the cryptocurrency asset but one has to weigh other factors that seem conflicting. 

Bitcoin price prediction

While 42% believe that Bitcoin will already reach $75,000/100,000 by this year, another 58% see it as the victim of a bearish future that will take it, according to some, to the $8,000 mark, bringing its value back many years. 

Sentiment is negative but in a world so plagued by problems and diplomatic crises, it seems a great result that 42% of investors still point to a rally for the digital gold. 

Speaking of Gold, again compared to Bitcoin, it has lost ground again, a normal decline after a long run but one that raises many suspicions and shifts hopes even further on BTC. 

Partially justifying Bitcoin‘s current red period is the cyclicality with which the virtual currency historically experiences two bull years and two bear years. 

In addition to the problems that plague classic markets, finance and also cryptocurrencies, there is the fact that we are in the two bear years and that a turnaround is only expected in 2023. 

In the meantime, the focus is on the fact that 42% of hedge funds place Bitcoin between $75,000 and $100,000 at the end of the year, as highlighted by Bitcoin Archive on Twitter.

The post The hype for Bitcoin remains high, very high appeared first on cryptodailynews24.com.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Donald Munn
Donald Munn
  • Website

Related Posts

The best PR films to inspire your crypto marketing strategy

January 2, 2023

Japan: tax breaks proposed for crypto investors

September 1, 2022

Bitcoin may have hit its low after Powell’s speech

September 1, 2022

Ripple’s plans to tokenize land in Colombia did not take off

September 1, 2022
Add A Comment

Comments are closed.

Advertisement
Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

The latest news about Bitcoin, ICO, blockchain and fintech.

Top Insights

How Rising Tobacco Prices are Affecting Smoking Cessation Around the World

March 8, 2023

Is it possible to buy NFT and help the Ukrainian army at the same time?

February 17, 2023

Ukraine Stands Strong: The SpendWithUkraine.com Initiative

February 2, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
© 2023 cryptodailynews24.com Submit news release

Type above and press Enter to search. Press Esc to cancel.