Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Bitcoin Will Rise To $75 000

By AMarkets CompanyCryptocurrencyFeb 25, 2021 08:52AM ET
www.investing.com/analysis/bitcoin-will-rise-to-75-000-200563234
Bitcoin Will Rise To $75 000
By AMarkets Company   |  Feb 25, 2021 08:52AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

The cryptocurrency market went into a tailspin on Tuesday with Bitcoin slipping from $55,000 as low as $45,000. Some BTC exchanges recorded even a more significant decline. Thus, the corrective pullback was about 20%. Although this massive bearish impulse hadn't unfolded any further, traders got pretty nervous and agitated, which led to a record wave of long liquidations worth over $3.5 billion. Crypto exchange data aggregator Bybt reported 474,968 traders liquidated their long BTC positions on Tuesday. 

Besides the fact that Bitcoin has been heavily overbought since the beginning of this year, this panic selling was triggered by specific fundamental factors. Speaking at a New York Times DealBook conference, US Treasury Secretary Janet Yellen criticized Bitcoin, mentioning the risks and dangers it poses for investors. Yellen stated:

“It is a highly speculative asset, and I think people should beware. It can be extremely volatile, and I do worry about potential losses that investors in it could suffer” 

Investors spotted a real threat of tighter BTC regulation in these statements. As digital currencies rise in value and their popularity grows, they start attracting more attention from governments and regulators around the world.

It's worth noting that this is not the first attempt of the authorities to cast a shadow on the world’s most popular cryptocurrency. Bitcoin has been facing constant criticism from banks and central governments. However, its market capitalization, especially if we look at the long-term picture, keeps steadily increasing. Given that no other asset can boast the same ability to generate profit per unit of capital invested, self-sustained demand for bitcoin will keep being the main growth driver, contributing to the bullish sentiment and allowing investors to turn a blind eye to any criticism from the authorities. Market participants name one more reason for the recent BTC correction. We are talking about Elon Musk's comments, who warned that the price of Bitcoin and Ethereum seems high. These comments brought a fresh buzz that Musk himself took advantage of the situation to increase his position on Bitcoin and buy a little more with a 20% discount.

Since the market is still dominated by bullish sentiment and buyers keep opening new positions to buy any correction, we recommend holding your long positions in BTC/USD with targets around $75,000. If traders keep showing bullish enthusiasm, it will take BTC no more than a month to achieve this target.

Bitcoin Will Rise To $75 000
 

Related Articles

Bitcoin Will Rise To $75 000

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (16)
sh zakar ahmad adv sh zakar ahmad adv
sh zakar ahmad adv sh zakar ahmad adv Feb 28, 2021 10:41AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
now bitcoin is down but ur idea was that btc will rise
Mehdi Captain Music
Mehdi Captain Music Feb 27, 2021 7:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Bitcoin will rise to $120k until the end of 2022, BUT there are many levels to Oscillation.
sh zakar ahmad adv sh zakar ahmad adv
sh zakar ahmad adv sh zakar ahmad adv Feb 27, 2021 7:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
hi what is ur idea about crypto next and another curriencies tell us
Engr Sammy
Engr Sammy Feb 26, 2021 12:53PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Impressive!
Michael Hou Augustine
Michael Hou Augustine Feb 26, 2021 11:09AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I am sure bitcoin wll. continue to reach new levels high.
Esmaeil Emadi
Esmaeil Emadi Feb 26, 2021 6:31AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
we sll you buy
Ferdian Trias Sonjaya
Ferdian Trias Sonjaya Feb 26, 2021 1:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
belongs to you
Musawar Abbas
Musawar Abbas Feb 26, 2021 1:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Musawar Abbas
Musawar Abbas Feb 26, 2021 1:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
what is btc next Price
ChompChomp Boom
ChompChomp Boom Feb 25, 2021 10:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Clearly the person who wrote this article bought btc at $60,000 - lmao loser
Ben Ben Tan
Ben Ben Tan Feb 25, 2021 9:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
democratization of money? haha, hoping the big boy buying bitcoin is just doing the exact opposite. retail investors got screwed in existing financial system, then now got screwed even harder in crypto. how ironic.
Joe Ruscigno
Joe Ruscigno Feb 25, 2021 9:00PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Stock up on food and guns, that’s where the value and need will be. BTC is going to zero.
Jan Buyle
Jan Buyle Feb 25, 2021 5:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
will see 28k first...
Dark Side of the moon
Dark Side of the moon Feb 25, 2021 4:27PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Small retailers will never be able to buy such quantities of volume. Institutions as this hedge fund will do.  It's a clear invitation from them to retailer to buy high...while insitutions as this one are in profit and they just want to sell you higher. May be they have a target about 67k or 70 k as soon as they fulfilled they can start selling or shorting BTc futures so they always get profit in any direction. Take care guys...it's up to you but this is the insitutions business model.
Angie Camaro
Angie Camaro Feb 25, 2021 4:27PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
you can buy 0.0675 of a bitcoin if you want. nobody has to buy it at the full umpteen 5 digit price if they can't afford to.
Dark Side of the moon
Dark Side of the moon Feb 25, 2021 4:27PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Angie Camaro  The price is set by the big big quantities of volume:  Institutions buy cheaper and sell high... do you know who are those  who buy them ? And dou you know who  sell cheaper BTC to  institutions? yes the same thay buy them in high prices...   If you cannot observe why 95% of the retailers lose their money  even if this is only 0.0675 you must be going by emotions as the big guys want you to go. Good success
Min Thu
Min Thu Feb 25, 2021 2:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thomas Samba Sesay
Thomas Samba Sesay Feb 25, 2021 1:22PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
how to trade?
Mehdi Captain Music
Mehdi Captain Music Feb 25, 2021 1:22PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Oscillation recommended. Example buy now $47 and then sell $53k and then buy $49k. Save your profits at tops and use them at bottoms.Be careful of the level’s length.
Ricky Singh
Ricky Singh Feb 25, 2021 10:15AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Let's just hope for the best..
Jeeven Manoharan
Jeeven Manoharan Feb 25, 2021 9:23AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Really a good news
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email