Well-known Wall Street financial market analyst James Arows predicted the future of the flagship cryptocurrency Bitcoin. He assured that the value of the digital currency will reach record price highs this year. He stressed that, according to the most modest forecasts, the BTC rate will cross the $80,000 mark by the end of 2022.
According to the expert, he studied the Bitcoin chart, and also relied on fundamental analysis when drawing his conclusions. Aroughs emphasized that he could be wrong, because the geopolitical situation in the world is extremely tense. Nevertheless, the specialist expressed confidence that his scenario would work.
Aroughs stated that the mass adoption of cryptocurrencies will play a key role in the price of digital gold. Now more and more large companies are thinking about integrating virtual currency into their own payment systems. This will inevitably lead to an increase in user demand. That, in turn, generate an offer that is limited by the issue BTC 21 million coins, which will make the asset more expensive.
In addition, looking at the digital currency chart, the expert noted several indicators at once, which allow us to talk about the asset being oversold and reaching critical price levels. In his opinion, the most important support levels are at $38,500 and $33,000.
The rate of digital gold is unlikely to fall below these values. The analyst assured that a slight correction is possible, but by the end of the year, the value of BTC will still reach new price highs.
Earlier edition informed that well-known market expert Jason Pizzino talked about what would have to happen for BTC to hit the $1 million mark. patience.
