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Financial expert spoke about the reasons for the fall in the BTC price

Former manager of hedge fund Goldman Sachs Raul Pal commented on the likely prerequisites for a decline in the price of the main cryptocurrency. In November of this year, the crypto coin surpassed the $68,000 mark, but now bitcoin is trading at about $46,000. The CEO of Real Vision TV believes that this is due to the profit taking by large investors. According to Pal, the process has already been completed, so one should not expect a serious decline in the BTC rate.

“It looks like they finished. Last week the market was quite volatile, as it always happens when the reporting period ends and everyone knocked out their balances,” the expert noted. Raoul Pal also pointed out that sales in Asia may still continue, but a fairly large-scale rise in the crypto market is expected early next year. The reason lies in the inflow of capital from institutional investors, which will again be transferred to digital currencies.

Former manager of hedge fund Goldman Sachs expects large investors to take an increased focus on cryptocurrencies in 2022 due to the active adoption of digital assets. Noel Acheson of Genesis Trading agreed with Raoul Pal. She noted the significant involvement of institutional investors in the crypto industry.

“The growth in interest from institutions over the past year has been impressive and we see strong signs that the trend will continue next year. They will invest both directly and in companies dealing with infrastructure in the cryptocurrency market,” she said. In October of this year, JPMorgan analysts announced the reasons why the first cryptocurrency rose by more than 35%. The report for clients said that a key prerequisite for the rise in bitcoin price was the increased demand for it from institutions.

 

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Opinion: crypto industry can reach stock market scale

In the future, the cryptocurrency industry may reach stock market volumes due to the increasing investor interest in digital assets. This opinion was expressed by the Governor of the Bank of Korea Lee Joo Yeol. Many believe that the main cryptocurrency is a hedging asset that can "save" their savings, and bitcoin supporters are confident that BTC can replace gold. A representative of the Korean regulator pointed out that digital currencies have already gained popularity as investment instruments. “I cannot yet say that digital assets are better than gold, but if the global cash flow continues to move towards NFTs and cryptocurrencies, it is likely that this industry will grow to the scale of the stock market,” said Ju Yeol. And the head of the NH All100 consulting center Kim Hee Jong believes that digital assets are not yet included in the investment portfolios of clients due to high volatility, and local financial institutions do not risk working with them due to the tough position of the authorities.

However, the number of people willing to invest in crypto assets has increased significantly. According to Hee Jong, today not only young people, but also older clients are interested in investing in digital currencies. Meanwhile, the beginning of 2022 was marked by a serious drop in the cryptocurrency market. Over the week, the price of BTC has dropped by almost 12%. Other popular digital assets fell 22%, hitting multi-month lows. Experts note the growth of volatility in the crypto market at the beginning of 2022 against the background of the absence of a significant number of investors. As the leading strategist of EXANTE, Janis Kivkulis, noted, a drop in trading volumes was recorded on many crypto platforms. According to him, part of the positions that were betting on the growth of digital assets were closed, and some of the investors liquidated them in the wake of panic. The recent unrest in Kazakhstan, which is one of the mining centers, has also become a negative factor for the cryptocurrency industry. Currently, the Internet is unstable on the territory, and banks are working with restrictions. However, experts predict that along with the stabilization of the political situation, the miners of Kazakhstan will resume work in the previous mode.

Another prerequisite for the fall of cryptocurrencies was the Fed's position on tightening monetary policy. In the first week of January, a document was published, from which it can be concluded that the regulator is leaning towards a rapid increase in the interest rate and a decrease in the volume of assets on the balance sheet. This, experts believe, was the reason for the outflow of funds from risky assets. The NASDAQ Composite index fell by 4.5% in 7 days, and the value of BTC followed the securities of large IT companies, said the head of Binance in Eastern Europe Gleb Kostarev. Analysts believe that the decline will continue in the future. However, they do not exclude the market recovery by the middle of this year, including due to the continuing interest of institutions. How do you think the digital asset market will behave in the near future?

 

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Crypto enthusiast voiced two scenarios for the development of the digital currency industry

Well-known American stand-up and TV host Joe Rogan believes in digital currencies and thinks that in the future, each company will start issuing its own non-fungible tokens. Together with fellow podcaster Adam Curry, he discussed the state of the cryptocurrency market. "Either the cryptocurrency industry will completely disintegrate, or it will give people a real chance to fix their financial situation and improve their lives," - Joe Rogan voiced two possible scenarios for the development of the industry. Curry noted that today many of the users do not want to become part of the existing system, so they are creating alternative ecosystems. The podcaster talked about investing in bitcoin, adding that he "jumped on the train", since it is BTC that is able to guarantee the safety of his assets.

Adam Curry believes that the monetary system is ineffective, which leads to poverty and war, inflation occurs, since money is associated with oil. Joe Rogan suggested that in the future, companies will create their own collectible tokens for customers to use to buy products. “Apple can easily release NFTs through which users will buy products. This can be called an alternative version of the shares,” said the TV presenter. But Curry did not agree with Rogan's opinion, as he believes that large companies and authorities will focus on introducing digital assets from regulators. All citizens will start digital wallets, which will be a direct link between users and the Fed, and the demand for familiar banking services will disappear, the podcaster is convinced. Billionaire and entrepreneur Bill Miller recently spoke about digital assets. He talked about what prompted him to invest in MicroStrategy bonds.

The billionaire's company Miller Value Partners has invested more than $1 billion in the main cryptocurrency. According to the entrepreneur, "there is no other asset with the same growth potential and liquidity." "Bitcoin is still a new and underdeveloped asset with a huge potential market, and it has a great, logical protocol with distributed governance," said the businessman. Miller doesn't believe regulators are planning to ban BTC. He recalled that the main crypto-coin has existed for about 12 years and shows itself perfectly without the intervention of the authorities. In addition, the billionaire noted that regulators in the United States have become more positive towards Bitcoin, prompting large investors to invest in the crypto asset. “Bitcoin is performing much better than just an asset for storing wealth. When the volatility of BTC approaches the volatility of government bonds, then the bitcoin rate will be much higher, the capitalization will be huge, and the profit will be insignificant. I think when it comes to that, bitcoin will become more often used for exchange,” said Bill Miller.

Do you agree with the American billionaire?

 

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Will the main crypto coin reach $75,000 by the end of this year?

The head of the SEBA crypto bank, Guido Buehler, announced a forecast according to which the price of bitcoin will rise to $75,000 by the end of 2022. He made such a statement during the Crypto Finance event, which took place in Switzerland. “Our internal valuation models point to a price between $50,000 and $75,000. I am quite sure that we will see this level,” the expert noted. According to Buehler, institutional investors can influence the growth in the value of the first cryptocurrency, the only question is timing. In addition, he stated that BTC volatility will be high, but the digital asset may reach new all-time highs this year.

Earlier, the bitcoin rate rose to $44,500. Analysts attribute this to the data of the US Department of Labor, which reported a record increase over the past four decades (7%) in consumer inflation in the last month of last year. According to Coinmarketcap on January 16, BTC was worth about $42,800. According to Alfacash CEO Nikita Soshnikov, there is a strong possibility that next week crypto market players will see a moderately bullish mood. The crypto expert believes this trend will help keep the price of BTC above $42,000. However, the cost of bitcoin will not rise above $46,000, since the coin lacks fundamental indicators for such growth. “The most likely scenario is that bitcoin will continue to fluctuate in the range of $42,000-46,000,” Soshnikov predicted.

He believes that the next wave of volatility in the cryptocurrency market may occur in mid-March. It is then that the US should raise the key rate. The head of Alfacash said that at first the cost of the first digital currency could drop sharply, but then BTC has every chance for a quick recovery and growth. And Andrey Podolyan, CEO of Cryptorg, is sure that the resistance level is at $45,700-46,000. According to his forecast, it is unlikely that BTC will be able to break through this level in the next week. Which expert do you agree with?

 

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Fidelity Digital Assets: the authorities of the states opposing the main cryptocurrency will be forced to invest in BTC in the future

Governments in countries that do not currently believe in the value of bitcoin will have to consider buying BTC as an insurance tool in the future. This conclusion was voiced in Fidelity Digital Assets. According to the analysts, this year an active period of adoption of the first digital currency by various states will begin. Over the past two years, institutionals have begun to develop a new type of asset. The experts compared the sanctions of the Chinese authorities on cryptocurrencies and the approval of bitcoin by El Salvador as a legitimate payment instrument.

“Time will certainly show which way is more successful,” the experts noted. Fidelity experts do not believe in the option of a direct ban on bitcoin by most states, since in this case they will “lose a significant part of their wealth and opportunities.” Analysts are confident that other countries will follow the example of El Salvador. “Very high-stakes game theory comes into play here – if adoption increases, countries that receive bitcoin today will be in a better competitive position than those who delay. In other words, small costs can be paid today as a hedge against potentially much larger costs in the future,” the experts explained.

Specialists of the investment company Invesco also spoke about the main crypto coin. The fall of the BTC rate from the historical maximum of $69,000 to $42,000 is considered by them to be “deflation of the cryptocurrency bubble”. The experts have suggested that the price of bitcoin may continue to decline. The company announced this in the list of "incredible, but possible" results of the current year. We are talking about events that, according to Invesco analysts, should come true by at least 30%. The drop to $42,000 earlier this year is absolutely in line with the bubble pattern, experts say. The trajectory suggests that bitcoin will lose about 45% of the price within 12 months after the peak period.

“The pattern also suggests that the bubbles typically deflate over the next two years. Therefore, we think it is not too difficult to imagine Bitcoin falling below $30,000 this year,” the experts said. Whether the forecast of Invesco analysts will come true, we will find out very soon.

 

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The US Securities and Exchange Commission may tighten control over crypto projects

The chairman of the SEC, Gary Gensler, is concerned about the reluctance of cryptocurrency platforms to cooperate with regulators. The official hopes that in the near future companies will begin to build effective interaction with local authorities. Gensler said that compliance with US laws by crypto projects means a lot to clients of such firms. And only thanks to the control of regulators over the platforms, their investors will be able to feel protected by analogy with the protection of the interests of security holders. “I’ve asked the SEC staff to look at every way to get these platforms inside the investor protection. If the trading platforms don’t come into the regulated space, it’d be another year of the public being vulnerable,” Gensler said.

The head of FINRA, Robert Cook, said that the organization plans to consider a possible tightening of the conditions for the sale of digital currencies. The structure that controls the brokerage will focus on advertising services in the field of crypto assets and data disclosure. FINRA will not make sweeping changes to the rules, but plans to issue notices. They will talk about the existing norms and how they should be developed for the high-quality protection of the interests of investors. In the field of cryptocurrencies, FINRA is ready to consider additional criteria for situations related to the purchase of unregulated products, in particular digital assets.

"We're not going to fundamentally change the current rules or regulatory structure - that's what the SEC and other federal agencies are doing," Cook said. “However, our partners are investing significant amounts in new cryptocurrencies with high volatility. The new rules will help us keep investors safe.” What do you think of the regulators' initiatives? How will this affect market participants in the future?

 

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Expert believes that there is a bias towards digital assets

A fairly small percentage of cryptocurrency assets are used in illegal transactions, as stated in numerous studies. This opinion was expressed by the former head of Coinbase, the current head of Figure Asiff Hirji. He is sure that the requirements of regulators for digital assets are overstated. “If we apply the rules that are used today in relation to the regulation of cryptocurrencies to all global payment mechanisms, our money will become completely illegal. No country will allow the circulation of funds,” the expert said. According to Hirji, cryptocurrencies can significantly reduce transaction costs. Interestingly, as early as last year, the media, citing former intelligence officer Michael Morell, wrote that the extent of the use of BTC in illegal operations was greatly exaggerated.

The requirements of regulators for crypto projects and the recent fall in the market do not scare investors from MicroStrategy Inc. Its chief financial officer Phong Le said that the company plans to continue to invest in bitcoins. “Our bitcoin strategy comes down to Buy&Hold. Therefore, if there is excess cash flow or other ways to raise funds, we continue to invest in the first cryptocurrency,” said the top manager. He did not announce specific plans for the purchase of the main digital coin for the current year. But according to Le, MicroStrategy, which has about 124,000 bitcoins worth more than $4.6 billion, does not intend to sell its crypto assets.

The investment company ARK Invest believes that by 2030 the BTC rate may rise to $1.36 million, and the capitalization of ETH - up to $22.5 trillion. Analysts explained their forecast for bitcoin with the hope of its legalization by various countries as a payment instrument and the growth of the relative share of cryptocurrency in the capitalization of global assets. Experts pointed to the "healthy" network metrics of the BTC blockchain. In particular, they noted the growing number of accumulating bitcoin addresses and the coins they own. And what do you think about it?

 

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JPMorgan lowers BTC fair valuation from $150,000 to $38,000

JPMorgan analysts believe that the high volatility of the asset is hindering the adoption of the main crypto-coin by institutional investors. Thus, experts explained the decrease in the fair value of BTC from $150,000 to $38,000. “Our previous forecast that the bitcoin to gold volatility ratio would drop two times by the end of 2022 seems unrealistic. We lower the fair value of the first cryptocurrency based on this proportion to 1/4 of $150,000, or $38,000,” the report says. A year ago, investment bank analysts stated that the theoretical long-term goal for the value of the first crypto coin would be $146,000. JPMorgan announced the convergence of BTC volatility with gold volatility. Experts also assured that the generation of millennials will be the driver for the adoption of the main digital asset.

JPMorgan now believes that “open interest in futures and the volume of exchange balance sheets indicate less panic or liquidation of positions than in May last year, especially in relation to large crypto investors.” Q9 Capital Managing Partner James Quinn spoke about a significant influx of clients to the crypto platform. He attributes this to the desire of investors to acquire digital currency at a low cost. According to him, “some people actually see this as an opportunity to buy bitcoin at a lower price than a few months ago.” Quinn believes that the market drop may be due to the increasing correlation of the BTC rate with traditional assets.

“As more people come out of traditional finance into this space, more new investors are coming in. Over time, they will own both digital assets and all types of traditional assets,” said the crypto enthusiast. Do you agree with James Quinn's prediction?

 

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How does the monitor help save up?

If you often exchange cryptocurrency or fiat money, then most likely you have chosen one reliable exchanger for yourself. This makes sense, especially from the viewpoint of convenience. However, this approach does not always give the most profitable results.

And if you still don’t have a favorite exchanger, then it is crucial to make the right choice. What is needed for that, first and foremost? Correct, the relevant information.

Any information gets old with time, but in case of trading rates it happens in a blink of an eye. Prices in exchangers are made up of the current market exchange rate and the markup of the service itself. Cryptocurrencies are extremely volatile, hence such fluctuations in exchange rates.

Using monitor, you will always find the most profitable option to buy or sell, and as a result, you will considerably save up

Every second BestChange monitors and updates rates for all exchange pairs (there are more than 200,000) and for each exchanger, which there are now 247. This means that at any time you can go to the monitor’s website and see the best deals for the currency pair you are interested in.

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