Bitcoin, the most widely used digital currency, which has hit its all-time highs several times this week, topping $ 40,000, could reach $ 50,000 in the coming months and even $ 400,000 in the long run. according to experts consulted by EFE.
Diego Morín, IG analyst, considers that the cryptocurrency could reach $ 50,000 before March due to high demand for bitcoins by institutional investors.
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“The rise of cryptocurrency is due to the decision of large investment funds to introduce bitcoins into their portfolios and to the incorporation of digital currency into payment platforms such as PayPal,” notes Morín.
Javier Castro-Acuña, head of business control at Bitnovo, finds it difficult to anticipate the valuation of Bitcoin in a given time, although he explains that, according to recognized entities in the world of finance such as JP Morgan or Guggenheim Partners, the cryptocurrency could reach worth between $ 146,000 and $ 400,000 in the future.
Ramón Ferraz, CEO of 2gether, says JP Morgan’s forecast that Bitcoin could reach $ 146,000 in the long run “it’s not an exaggeration.”
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According to Ferraz, the digital currency will continue to rise in the future even if there is a temporary fall associated with the collection of profits by investors, as “the digital currency is gaining strength as a safe haven value instead of gold and as a reserve asset of organizations and who knows if of States “.
However, other experts such as Marc Sansó, CEO and founder of Elsebits and professor at EAE Business School, do not consider it possible to specify what the value of Bitcoin will be in the future.
“We don’t know and we would dare say that anyone who says a figure is lying. We are facing a book bubble, there has been an average volatility of 69% in the last month, which is in the “Shining,” he says.
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For Sansó, some of the reasons for the rise of Bitcoin in recent weeks are excessive market liquidity, limited supply, the call effect generated by the media and the increase in the number of “traders” (traders). ) in the digital currency market.
The EAE Business School professor believes that another cause of the rise in cryptocurrency is that investors are perceiving digital currency as a hedging asset against inflation.
In recent weeks, other digital currencies such as ether, the digital currency of the Ethereum technology network, have also increased their value in the cryptocurrency market. Javier Castro Acuña is confident that its value will continue to grow, as the Ethereum network “It’s the ‘blockchain’ that most developers are working on and it’s the gateway to decentralized finance, a financial world that skyrocketed last summer. and that it has exponential growth potential. ”
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In the same vein is Ramon Ferraz, who believes that ether and Bitcoin have a way. “Ether, like Bitcoin, enjoys the network effects in the use cases they offer, which means it’s very difficult for any other digital currency to compete with them,” he points out.
In addition, Ferraz is confident that the launch of the Ethereum 2.0 network will make cryptocurrency much more efficient, Which will increase its use among investors.
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EFE