Unless there is a macroeconomic event, such as a change in risk sensitivity, according to Wilfred Daye, head of Securitize Capital. bitcoin It seems unlikely that the price will go above $46,000.
As the war in Ukraine continues and the US Federal Reserve raises interest rates at the expected level, the world’s largest cryptocurrency It was traded in a narrow zone this week. Bitcoin, known as a volatile asset, is trading at $ 41,650 at the time of this writing, approximately 6% higher than at the beginning of the week. However, there is still a decrease of approximately 40% from the level of 69,000 dollars in November.
“Tactical Longs Are Currently Not Strong Enough To Drive Bitcoin Above $46,000”
Daye continued his comments on BTC as follows:
“Tactical longs on BTC are not strong enough to push the price above $46,000. A tech stock rally and a shift in risk sensitivity are two key factors for the BTC price to rise.”
We know that the Bitcoin price has been trading in the narrowest range since October 2020. According to experts, this may be because short-term investors sell coins to make a profit on small rises, and long-term investors buy coins as the price drops.
“I Do Not Expect Upward Aggressive Movements in 2022”
British digital asset broker GlobalBlock analyst Marcus Sotirou said in a statement on the subject:
“As the proportion of long-term investors in the market continues to increase, the price of Bitcoin is also flat below $41,000. Due to macro conditions, I do not expect aggressive upward movements in prices in 2022.”
Billionaire investor Mike Novogratz also told Bloomberg on Tuesday that he expects the BTC price to hover between $30,000 and $50,000 as US interest rates rise.
*Not investment advice.