According to the head of research and strategy at Matrixport, the price of BTC can overcome the mark of $125,000 by 2025
The head of research and strategy at Matrixport Markus Thielen voiced a new forecast regarding the rate of the main cryptocurrency. The expert believes that by 2025, the price of bitcoin can overcome the mark of $125,000.
According to the analyst, citing historical data, the reversal to the multi-month rally begins when the rate of the asset is close to the annual maximum. This is a signal for the end of the bearish cycle.
The signal was formed late last month when bitcoin surpassed $31,000. Earlier impulses were recorded in August 2012, December 2015, May 2019 and August 2020, setting the stage for the price spike of the main crypto coin.
According to Coinmarketcap’s data as of July 7, BTC is worth more than $30,000. Since January 1 this year, the bitcoin rate has risen by almost 90%.
CNBC cryptocurrency analyst Ren Neuner also spoke about the prospects of digital currencies. He believes that only a few altcoins can survive the new bearish trend in the crypto market.
According to Neuner, the influence on the upward trend of large financial market players is becoming more and more evident. The expert explained this by the fact that companies mostly use complex financial instruments, such as options and futures, which may indicate a loss of interest in spot trading.
Neuner is convinced that the coming market cycle will be significantly different from previous ones, which is why you need to take a steady position to prevent likely losses. The focus should be on the real benefits of cryptocurrency assets and their market stability.
The analyst believes that XRP has similar properties. Neuner said that to “survive” a market decline, XRP needs to surpass its previous high of $3.3. And the price of bitcoin needs to rise above $69'420. The cryptocurrencies BNB, ADA, SOL, DOGE, DOT, LTC and MATIC also have prospects, the expert believes.
“It’s best not to get emotionally attached to your chosen cryptocurrencies, otherwise it can be a serious trap. The market doesn’t care about community affiliation; it only cares about what works and what doesn’t,” Neuner concluded.
