Bitcoin, the most used cryptocurrency, which exceeded its all-time highs several times this week, to exceed $ 40,000, could reach $ 50,000 in the coming months and even $ 400,000 in the long run, according to experts consulted by EFE.
Diego Morín, IG analyst, believes that The cryptocurrency could reach $ 50,000 before March due to high demand from institutional investors for bitcoin.
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“The growth of cryptocurrency is due to the decision of large investment funds to introduce bitcoins in their portfolios and the incorporation of cryptocurrency into payment platforms such as PayPal,” says Morín.
Javier Castro-Acuña, head of control of Bitnovo’s business, finds it difficult to anticipate bitcoin’s valuation at some point, although he explains that according to recognized entities in the world of finance such as JP Morgan or Guggenheim Partners, cryptocurrency could reach to be worth between $ 146,000 and $ 400,000 in the future.
Ramón Ferraz, CEO of 2gether, says JP Morgan predicts that Bitcoin could reach $ 146,000 in the long run “not an exaggeration.”
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According to Ferraz, digital currency will continue to grow in the future, even if there is a temporary decline associated with the collection of profits by investors, since “cryptocurrency is gaining strength as a safe haven for gold replacement and as a reserve asset for organizations and who he knows if of states ”.
However, other experts, such as Marc Sansó, CEO and founder of Elsebits and professor at EAE Business School, do not consider it possible to specify the value of bitcoin in the future.
“We don’t know and we would dare say that anyone who says a number is lying. We are facing a book bubble, there has been an average volatility of 69% in the last month, which is amazing,” he says.
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For Sansó, some of the reasons for the growth of bitcoin in recent weeks are excessive market liquidity, limited supply, the call effect generated by the media and the increase in the number of “traders” (operators) in the cryptocurrency market.
Professor EAE Business School believes that another cause of the growth of cryptocurrencies is that investors perceive digital currency as a hedge against inflation.
In recent weeks, other digital currencies, such as ether, the cryptocurrency of the Ethereum technology network, have also grown in value in the cryptocurrency market. Javier Castro Acuña is confident that his value will continue to grow, from the Ethereum network “It is the blockchain that many developers are working on and it is the gateway to decentralized finance, a financial world that exploded last summer. and that it has exponential growth potential. ”
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Ramón Ferraz expresses himself in the same sense, believing that ether and bitcoin have a journey. “Ether, like bitcoin, enjoys network effects in the use cases it offers, which means it is very difficult for any other cryptocurrency to compete with them,” he says.
In addition, Ferraz is confident that the launch of the Ethereum 2.0 network will make cryptocurrency much more efficient, which will increase its use among investors.
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EFE