Bitcofly, one of the cryptocurrency finance companies from
London analyzed price prediction of bitcoin price. According to bitcofly analysts; All financial markets have a
market cycle with a certain cycle, and the cryptocurrency market has no
exception. The biggest difference of the cryptocurrency market from other
markets in this regard can be expressed as the fact that there is yet a new
space for 10 years and therefore there are not many historical charts. So far,
there have been only three major highs and downs for Bitcoin (BTC), and some
analysts are trying to get help from these three historical events to predict
the next cycle.
Bitcoin can reach up to $ 100,000 by 2023!
According to bitcofly,
it took 320 days for the first cycle to take place in full, and in 2011, the
record was a bit shorter than $ 32 by Bitcoin. Later, the bear market dominated
until the next upward trend in 2014 and the price reached $ 1,180 in 2014.
After this cycle, the famous 2014-2015 declined and BTC lost more than 80% of
its total market volume and fell to $ 200. It took about 20 months for the
ascension and bulls to reappear, and from the end of 2015, there was a slight acceleration.
In December 2017, Bitcoin broke the $ 20,000 record, attracting the attention
of the whole world and then entering the cycle of decline, declining to $
3,100, and currently, bitcoin price is wandering
at $ 4,700 according to the time of the press.
James Linwood, one of the cryptocurrency analysts from bitcofly, thinks that the next uptrend of the
market will take place in 2023 and that in July 2023 Bitcoin could reach up to
$ 100,000 or more. Considering that the Bitcoin fork will take place in the
coming year, the expectation is becoming more and more exciting. Linwood stated
that in 2019, the dominance of high-demanded tokens will increase, but
investors may want to benefit from low-demand tokens that return to the
alternative coins and leave Bitcoin behind. Crypto market will accelerate
industrial money flowIn theory, miners will not be able to reach the maximum
number of Bitcoins of 21 million by 2045. This is one of the main reasons that
affect the price of bitcoin, he mentioned.
Bitcoin
and some altcoins, which are always of interest to investors, seem to be much
talked about in the future.
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