Forex And Cryptocurrency Forecast For December 14 - 18

Forex and Cryptocurrency Forecast for December 14 - 18, 20201


So, a correction or a repeat of the collapse of the late 2017-2018? The question is still open.

Bloomberg experts believe that there is no reason for a change in the direction of bitcoin's movement now, and its cost may increase to $50,000 in 2021.  “The dollar is gradually losing its position, ducking other fiat currencies,” writes this authoritative agency, “All this is noticed by investors who are forced to switch to alternative assets.” Bitcoin has significantly more support now, which minimizes the likelihood of a pullback. Open interest in the CME bitcoin futures market has exceeded $1 billion for the first time in history, which also speaks of growing support from investors.

A similar point of view is followed by the American billionaire Paul Tudor Jones, head of Tudor Investment Corporation, who said that “cryptocurrencies are facing a crazy flight on a rocket with ascents and descents along the way.” “In 20 years, bitcoin will be significantly higher than the point where it is now. From here, the road for it lies north,” Yahoo! Finance quoted him.

But Galaxy Digital CEO Mike Novogratz is less optimistic. In his opinion, bitcoin will certainly not return to zero, but may fall to the $14,000 mark. Therefore, although the losses of investors will not reach 80-90%, they may well be about 30-40%.

The report of the fintech company Cindicator is of great interest. This is due to the fact that the figures presented in it are not the opinion of individual specialists, but the average results of the survey of more than 156,000 participants of the crypto market, according to which bitcoin next year will rise to $29,569. The respondents with the most accurate forecasts, the so-called "superforcasters", on average expect even greater growth, to $32,056. As for the lower bar, according to the average forecast, it is at $15,000. “Superforcasters” are less optimistic and expect a decline to $12,000.

Cindicator's “hybrid intelligence”, which uses machine learning algorithms to process data from a team of analysts, predicts similar values, only in a narrower range. According to its calculations, the BTC rate next year will not exceed $25,222 and will not fall below $16,000. At the same time, the total capitalization of the cryptocurrency market in 2021 with a probability of 80% will surpass the 2018 record of $828 billion.

In addition to institutional investors, additional serious support for the crypto market in 2021 should be provided by countries with troubled economies and those under sanctions. As of now, the SWIFT International Banking System, together with the Financial Crimes Agency (FinCEN) and the Financial Anti-Money Laundering Development Group (FATF), control each international transaction in dollars. Because of this, the countries that have come under the sanctions are deprived of the opportunity for international trade and are literally forced to turn to cryptocurrencies. So, for example, Venezuela, which at first paid in gold, has now switched to settlements for imports with Turkey and Iran in bitcoins. At least this is evidenced by anonymous sources from the Central Bank of this country.


1 2 3 4
View single page >> |

Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.