Bitwise’s chief investment official Matt Hougan, Bitcoin $103,805.78After a 20 percent rise in the last month, he drew a positive picture of the crypto currency. Hougan, David Lin Youtube in an interview with the basic dynamics Bitcoin price of 95 percent of the current levels, he said.
Positive developments and expectation
Matt Hougan said that many positive developments are effective behind the optimistic expectation in Bitcoin. The fact that the US government began to have Bitcoin, the improvements in the regulatory area and the increase in the interest of corporate investors were among the main factors supporting Hougan’s ascension.
Bitwise CIO said that despite these developments, Bitcoin prices are not at the expected levels, but also affect not only Bitcoin, but also other risky assets. He emphasized that the stock markets are also experiencing a decrease.
“You may wonder why prices are not higher. The reason is that there are many economic uncertainty, including Bitcoin and all risky assets, the significant decreases in the stock exchanges. However, when these economic fluctuations listen, I think that the positive developments in Bitcoin will carry the price to new summits and increase it to 200,000 dollars in the year.”
Elements that will affect Bitcoin’s price
Hougan underlined that Bitcoin’s price is basically determined by supply and demand. He pointed out that only 165,000 new Bitcoins were produced annually and would be a maximum of 21 million Bitcoin.
Three main elements that may increase the demand should be followed: Bitcoin investment funds (ETF) money flow, large companies continue to buy Bitcoin and governments Bitcoin purchases. If these three conditions are realized, Hougan believes that the price target of $ 200,000 will be almost final.
“Factors that determine the price of Bitcoin supply and demand. Supply certain, limited to 21 million and only 165,000 new Bitcoin is produced in a year. If the demand front, we should look at the entrances of ETFs, the purchases of large companies and governments.
Current market status and expectations
The report, Bitcoin during the spelling of about $ 102,695 was traded at the level said. At the same time, when the fluctuations in macroeconomic conditions end, it was underlined that Bitcoin’s price may have new historical records.
The increase in the role of corporate investors in the market, global regulatory improvements and governments began to keep Bitcoin portfolio, the main headings that strengthen market expectations.
According to experts, it is thought that Bitcoin’s interest in investor may increase again and may be positively reflected in prices if economic fluctuations are reduced in the coming months. However, it is stated that the course in the market may vary depending on various factors.
In general, it is considered that volatility may continue in the crypto currency market, but the supply is limited and the potential increase increase may have significant effects on the price of Bitcoin. Investors are recommended to carefully monitor macroeconomic developments and regulatory news in financial decision processes. The possibility of realizing such expectations and estimates can be shaped depending on investment behaviors and developments in the market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
