Bitcoin Price Prediction: Here is an expert’s opinion on the imminent evolution of the BTC price!

Bitcoin is currently trading at around $ 40,500, a level almost exactly halfway between its 2022 high ($ 47,938) and its year-to-date low ($ 33,503).

With the price of bitcoin having seen dramatic swings over the past year, no one knows which of these levels will pick up the world’s largest digital asset first, not even well-known cryptocurrency whistleblowers like Bill Noble, Token Metrics main market analyst.

After carefully analyzing the charts and market catalysts for cryptocurrencies, Noble told Insider in a recent interview that bitcoin is also about halfway between its current bullish and bearish price targets of $ 56,000 and $ 28,000, respectively.

In the most optimistic scenario, bitcoin shakes off the growing concerns about interest rates that have hurt investor sentiment and climbs to $ 56,000 before the end of the year. Then, in 2023, the token finally breaks the long-awaited $ 100,000 threshold.

“Once the global financial stomach ache is over, I think in 2023 cryptocurrencies will emerge – albeit later in 2023 – as the ultimate financial investment for the future,” Noble said.

In the less bleak scenario, Nobel said the war in Ukraine, 41-year high inflation, and a political blunder by central banks put cryptocurrencies under even greater pressure. But ultimately, Noble thinks even this stressful outcome would be a long-term buying opportunity.

“Crypto can go down, and then there’s a lot of people waiting to buy it,” Noble said.

How to prepare for the “worst case scenario” for bitcoin?

Although Noble said $ 28,000 was a “most likely level” for bitcoin to bear, he added that the “worst case scenario” for the token was $ 20,000. See the article: Cardano Price Prediction: Is ADA Price Heading Towards $ 1.30? Notice and forecast. Bitcoin hasn’t dropped below $ 30,000 since January 2, 2021, according to CoinMarketCap.

This scenario would materialize only if history repeated itself ea route The bond market ripples through the stock market, Noble said, citing the 1987 example. Thirty-five years ago – more than two decades before bitcoin existed – the S&P 500 plummeted 22.6% in one session. The chaos has come after months of bond crashes that have caused yields, which move inversely to prices, to soar.

Fast forward to 2022 and bonds have been gutted as part of the EU strategy. The Federal Reserve begins to rapidly raise interest rates to finally slow down what has been “untreated inflation,” as Noble puts it. Higher rates mean there are more alternatives for investors to invest their money in, making risky assets like stocks and cryptocurrencies less attractive and possibly prone to a downturn.

“The encouraging situation for cryptocurrencies is that cryptocurrencies are simply trading in a range, as stocks did during the last bond market crash in 1994,” Noble said. “The worst case scenario for cryptocurrencies is that the rise in bond yields matches what happened in 1987 just before the stock crash. “

Noble continues: “Here is the balance to be struck: if stocks plummet, we think cryptocurrencies will obviously be dragged down. But cryptocurrencies will come back much faster.”

Although falling stocks can fall back on it bitcoin at levels not seen since 2020, Mr Noble is confident this will not be the start of a dreaded “crypto winter”. The case for digital assets is “much clearer” than it had been in previous crashes, Noble said, citing a survey released on April 11 that showed financial advisors think their clients should have 6% of their crypto money.

Most cryptocurrency investors should keep a long-term mindset and focus on the often repeated adage of “time in market, not market timing,” according to Noble. However, the analyst suggested that cryptocurrency traders can make money fast following another saying: Sell in May and leave. “

Mr. Noble said that if there is a downturn in cryptocurrency, it will most likely happen during the summer. Having money ready to distribute may be smart, Noble said, but he admits the unpredictability of inflation and how the Fed responds complicates the picture.

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