Bitcoin price could rise to $30,000

According to Deutsche Bank analyst Marion Lebour, bitcoin can become the digital gold of the 21st century. At the same time, she emphasized that one should not forget about the risks associated with BTC. Lebour also noted that people are always on the lookout for assets that would not be controlled by the authorities.

“Gold has played this role for centuries. And yes, I can potentially see bitcoin become the digital gold of the 21st century,” the analyst said.

Historically, gold has been volatile, she said. And the main crypto coin is also quite volatile to be considered a reliable store of value. Lebour believes that the key difficulties of digital currencies are the lack of regulation and the environmental consequences of their mining. Bitcoin mining requires more energy than some countries consume.

“For example, in a year, bitcoin mining requires about the same amount of electricity as the entire population of Pakistan uses, about 217 million people!” a representative of Deutsche Bank said.

Meanwhile, analysts did not rule out that BTC could reach $30,000. This can happen if bitcoin breaks the $25,100 mark. Previously, this level was fixed before the collapse of Terra, as was noted in LookIntoBitcoin.

The importance of passing the $25,100 level was reinforced by the experts with a historical chart showing the creation of a cyclical bottom after it was tested by quotes. A return above the metric will help restore confidence among investors, the experts stressed.

And financial analyst Anton Zvezdin believes that until the middle of the year, crypto assets “will be in lateral movement, moving in the range of $16,000-$26,000 per bitcoin.”

“The subsequent period until the end of 2023 will depend on the decision of the Fed and how much final inflation the Fed can achieve. If the Fed breaks the trend to raise the rate, the economy will probably not go into a deep recession, which means that by the end of the year, we can expect the price of bitcoin to rise to the range of $40,000 per 1 bitcoin.

This growth is due to the fact that in March 2024, there will be 4 halvings in a row. So, after each halving, bitcoin grows by an average of 8–10 times. In the last cycle, the growth was from $5,000 to $60,000 per 1 coin,” the analyst is sure.