Cryptocurrency market participants speak about the further movement of the BTC rate

Roman Nekrasov, co-founder of the ENCRY Foundation, believes that the actions of the SEC related to lawsuits against Binance and Coinbase, as well as the recognition by the regulator of several cryptocurrencies as securities at once, can push investors to withdraw assets from altcoins and transfer funds to BTC, which will support its rate.

The analyst called the scenario in which the price of bitcoin falls below $24,000 unlikely. Also, BTC will not be able to grow above $28,000, that is, in the next 7 days, the cryptocurrency rate will be in this fork.

“The negative scenario is that a criminal prosecution of Binance could be launched, which former SEC lawyer John Reed Stark warned about. This will lead to a massive outflow of funds from the crypto exchange, hit the crypto market, and the bitcoin rate will be able to drop to $ 20,000 — to the level of the average production cost for the regions,” said Roman Nekrasov.

A positive scenario, according to the expert, is that the market will be calm for some time. In the short term, another criminal prosecution is not expected, and bitcoin can test the $30,000 mark. However, such a scenario is seen at the best in the future 3–4 weeks.

The head of Cryptorg, Andrey Podolyan, considers the key goal of this week to be an attempt to return bitcoin to the $26,400 mark. According to Coinmarketcap data, the cryptocurrency is currently at $24,946. According to the analyst, the market will be characterized by increased volatility this week.

And MicroStrategy co-founder Michael Saylor is confident that the price of bitcoin will continue to rise.

“The next logical step is for Bitcoin to 10x from here, and then 10x again. In the end, I am sure that cryptocurrency exchanges will come to their senses and understand that bitcoin is indeed the dominant asset in this area, ”said the businessman.

Sailor believes that Bitcoin is “the only institutional-grade investment asset in the crypto space.” The entrepreneur believes that with the disappearance of stablecoins, the long-term dominance of the first first cryptocoin “will reach 80%”.

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