Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Both readings are being presented at a time when Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. and the crypto market an area or arena, online or offline, in which commercial dealings are conducted. are heavily shaken after what happened to the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. ecosystem. Earth. It remains to be seen if any of them have the most accurate reading.
- President of Lamoureux projects a BTC to USD $100,000 by the end of 2023.
- Assures that this is supported in the next halving. Bitcoin coming in 2024.
- IOC of Guggenheim projects lows of USD $8,000 per unit in the worst case scenario.
Undoubtedly, the last few weeks have been particularly volatile and discouraging in terms of the evolution of the price of Bitcoin and a good part of the main cryptocurrencies, which have been notably shaken after the fears generated by the collapse of the coins associated with the ecosystem of Earth. But while this period of uncertainty does not seem to be nearing its end, there is no shortage of both positive and negative readings for the price of the main cryptocurrency.
Lamoureux points to an upturn in the price of Bitcoin
But let’s start with the friendlier outlook, which comes from the president of financial research firm Lamoureux & Co Yves Lamoureux, who indicated that Bitcoin’s price correction a correction is a pullback of an asset’s price of at least 10% to adjust for over-valuation. is possibly nearing an end, as it is part of a “crypto winter” season that may be coming to an end.
Lamoureux said in an interview today, where the research agency’s chief executive noted that Bitcoin could be about to embark on another rally and resume its uptrend, even predicting that the leading digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. could approach an estimated value of USD $100,000 per unit by the end of 2023.
But Lamoureux did not stop here, and anticipated that this upturn could go even beyond the barrier indicated, and even extend to next year 2025. The reading of the executive is strongly supported by the next halving an event in which the total rewards per confirmed block halves. that will have the network. Bitcoin en 2024, el cual recortará a la mitad las recompensas destinadas para la comunidad minera que apoya al Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. of the digital currency, going from the 6.25 BTC current at about 3,125 BTC.
On these ambitious readings, Lamoureux commented:
“I’m not giving a major buy signal, I’m just saying yes, you can start to buy a little bit. At USD $30,000 per unit and down more than 55% from a peak of USD $68,990 in November 2021, Bitcoin meets much of your criteria for exiting this bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” market.”
The price of Bitcoin can still fall further
But leaving aside the enthusiasm of Lamoureux’s president, on the other hand we have the chief investment officer for Guggenheim Investments, Scott Minerd, who presents a completely opposite picture and assures that the price of Bitcoin may still see a much steeper drop, even reaching lows near USD $8,000 per unit.
The statements by Guggenheim’s representative came during a recent interview by the news network a network refers to all nodes in the operation of a blockchain at any given moment in time. CNBC, where Minerd laid out some developments that could drive this steep decline in Bitcoin’s price for the not too distant future, noting as the main point against the regulatory emphasis being imposed by various government agencies, although the situation in the U.S. will be especially negative for the digital currency.
In this regard, Minerd expressed that the restrictive approach that is applying the US Federal Reserve (FED) with increases in interest margins could close refers to the closing price; similar to the same term used in stock trading. the liquidity how easily a cryptocurrency can be bought and sold without impacting the overall market price. channels through which capital capital is most commonly defined as the large sum of money you would use to invest. flows into the Bitcoin market. This would cause less money to enter the market, compromising supply and demand on the major exchanges.
Although Minerd puts a minimum floor of about USD $8,000 per unit, it also claims that this barrier would be the lowest point it could reach, so in front of the USD $29,000 mark there would still be a large margin for the price to fall in the coming days if market conditions are not favorable.
It is worth noting that Minerd closed his participation by assuring that, in his view, many of the cryptocurrencies currently on the market “are junk,” but that he has good expectations about Bitcoin y Ethereum a decentralized open-source blockchain with smart contracts functionality. and ensures that they will survive the downturn in the markets.
Exercise extreme caution
While both readings present very contradictory scenarios, in the middle are surely investors and enthusiasts thinking of the best possible trading strategies to take some kind of profit from this uncertainty that is shaking the market.
If this is the case, Lamoureux himself warns to be very cautious, and especially to evaluate very well the asset in which you want to invest investing is when you put money in a financial scheme with the intent of making a gain. as the margin of risk can be higher if you are dealing with smaller cryptocurrencies.
Al respecto, Lamoureux comentó:
“I’m interested in Bitcoin because it’s king, and that’s where the institutional money will flow first. So always stick with the best. Everybody wants to be Bitcoin, but they’re not… don’t complicate it, stick with Bitcoin.”
At the time of publishing the price of Bitcoin is at around USD $29.565 per unit, capitalizing on a slight drop of 0.35% in the last 24 hours.
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Version by Angel Di Matteo / DiarioBitcoin
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