After falling to 6410, bitcoin raised again to $ 7,200. However, the short-term outlook for the digital currency is ambiguous, according to CCN, as sales pressure may still be on the market.
Dave the Wave has been analyzing its price since 2011, when bitcoin was under $ 1! We've seen Bitcoin's rising shares several times since then, and now it's well over a dollar.
After eight years, bitcoin is still on its rising share. Recently, however, there has been a sharp decline in bitcoin volatility, as prices have fallen near the parity edge.
Bitcoin's dependence on its upward trend in the long run is the main reliance on higher targets. It was this analyst who was able to predict its price before bitcoin fell.
In recent months, big capitalists such as Tim Draper, Tom Lee and Brian Kelly have talked about bitcoin for $ 250,000 over the next three years.
Dave the Wave In an interview with CCN, he confirmed that bitcoin prices could reach $ 100,000 by the end of 2022, while the possibility of higher prices in the coming years is likely.
Earlier, by examining the technical factors, we found that bitcoin is in a very short run, and the future is strongly bullish in the long run. Now let's take a fundamental look at this digital currency.
Three fundamental factors that accelerate bitcoin's long-term uptrend are:
Improve infrastructure and service to a wider range of users
Increase in hash rates and intra-chain figures such as volume of transactions in dollars
Events that influence the scarcity of bitcoin like Hawking
Looking at the blockchain data, it can be seen that the bitcoin network hash rate has once again reached its highest level. This increase in hash rates comes as bitcoin prices reach a level where the cost and benefits of large miners are equal.
The ongoing rise of bitcoin network hashtags in 2019, which also pose many challenges for miners, indicate that bitcoin's confidence in the long run is high.
On the other hand, the emergence of currency exchanges and regulated markets like Bakkt is another factor in the rise in bitcoin prices. These markets were able to start the month of December with new highs and record volumes.
The expansion of infrastructure related to the bitcoin market will allow more people to invest in this area. The arrival of large investors and financial institutions is also one of the reasons that could push the price of the digital currency even further.
Bitcoin, on the other hand, has a limited supply of 21 million units, so anything that increases its scarcity will affect its price.
Many investors and analysts are looking forward to Hawking or halving the bitcoin net in May next year. With the advent of Hawking, the number of bitcoins produced will be halved.
Given the bright and technical future of bitcoin, one only has to wait and see what the future of this digital currency will look like.