Bitcoin is poised to return to $ 20,000 in …

Bitcoin is poised to return to $ 20,000 in …

BITCOIN -$20,000 CRASH VERY SOON!?!? HERE’S WHY IM EXCITED!

Contents

Bitcoin is poised to return to $ 20,000 soon – Binance research
CONTENT

  • Bitcoin price could hit $ 20,000 this year

  • Companies are actively investing in bitcoin derivatives and buying up coins

  • The cost of a cryptocurrency will depend on the breadth of its adoption

International consortium of news organizations, developing standards for transparency.

The largest cryptocurrency platform Binance presented its research on the dynamics of the price of bitcoin over the past 1.5 months. According to the experts of the exchange, in the near future the price of MTC may reach $ 20,000.

Bitcoin is poised to return to $ 20,000 in ...

Bitcoin finally became a defensive asset

Since mid-October, bitcoin has risen in price by almost 50%, $ 11,500 to $ 18,150 at the time of writing. Now many expect the crypto asset to continue to grow and break the $ 20,000 mark, thus setting a new price record..

Bitcoin has several growth factors, but none of them can fully explain the dynamics or predict further movement..

Meanwhile, Binance experts note that Bitcoin is increasingly perceived as a defensive asset against inflation. Given the unfavorable macroeconomic environment, many governments are likely to continue to flood their financial systems with cash. But such measures are fraught with further growth in inflation, and the flight of investors to safe-haven assets.

Moreover, this process is already in full swing. Gold has risen in price by 23% since the beginning of the year, and the yield of bitcoin over the same period has approached 250%. Besides MicroStrategy, many organizations have added cryptocurrency to their portfolios..

Meanwhile, Binance emphasized that the rally was also driven by a number of other less obvious factors, including improved market infrastructure, regulation, and the development of financial products and services in the cryptocurrency industry..

Due to the development of regulation, licensed custodian organizations have emerged over the past three years. For example, the Grayscale Bitcoin Trust has accumulated 515,000 BTC and continues to grow in volume (+ 25,000 BTC in the last 14 days).

It has become much easier to enter the market: many services offer convenient and intuitive interfaces and a wide range of different coins for investment.

The share of the futures and derivatives market has grown. Bitcoin’s open interest (consisting of both futures and perpetual contracts) recently peaked at over $ 6 billion.

Highly liquid assets (for example, stablecoins), over-the-counter markets, several licensed exchange platforms and even decentralized exchanges Cryptocurrencies continue to march across the planet, becoming increasingly mainstream and finding new uses for themselves. People buy bitcoin, … More with guaranteed matchmaking (for example, Uniswap with BTC tokens on Ethereum) provide investors with easy access to the market. Simply put, the market ecosystem has largely evolved over the past three years..

In many countries, companies can legally hold bitcoins in their portfolios. In the derivatives market, you can build complex positions. In addition, it is possible to gain access to high liquidity both within the network and through OTC markets. Thus, in the cryptocurrency market, the investor now has access to almost all the advantages characteristic of traditional financial markets..

Bitcoin price will continue to rise

The value of the main cryptocurrency will continue to grow further. Both domestic and foreign experts are sure of this. In the near future, the bitcoin rate will reach $ 20,000, but this very threshold will become an important level of resistance. This opinion was expressed by analyst Mike McGlone. In an interview on Bloomberg, McGlone said that Bitcoin would repeat the scenario of gold, which, having reached the price of $ 2,000, strengthened the entire bull market..

The head of Binance in the CIS Gleb Kostarev is confident that the rise in the price of bitcoin will directly depend on the breadth of adoption of cryptocurrencies in the world.

“The distribution of cryptocurrencies is still very low right now. The higher it is, the more prerequisites for growth. Perhaps this growth will happen next year, and perhaps in a month, no one knows. But we can safely say that the potential and space for market growth is enormous, ”he said in an exclusive commentary for BeInCrypto..

Bitcoin is poised to return to $ 20,000 in ...

The opinions of other experts on the dynamics of the price of bitcoin can be found here.

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