Bitcoin has gone below $20,000, experts expect further decline, and the global bottom is still ahead
There is no doubt that Bitcoin simply cannot move to growth in the foreseeable future. Yes, it is quite capable of rising to 22 thousand dollars for 1 coin, but it is not yet capable of more digital gold. Needless to say, even optimists believe that at best by the end of 2022 we will see the rise in price of the first cryptocurrency to 30 thousand dollars. Whatever the optimists think, but the reality is that today Bitcoin has gone below $ 20,000 again. No one knows where the bottom is at all, but more and more analysts agree that the market needs a break.
There is an opinion that the fall in the Bitcoin exchange rate will have a positive impact on cryptocurrencies, because there are too many scammers here today. Traders are trying to make money on bets, and ordinary users buy dubious tokens, which leads to the loss of tens or even hundreds of thousands of dollars as a result of manipulation by major players. In general, there are many reasons, but the position of analysts is that the market needs a stable bottom. Digital assets will fix one or another mark, a period of crisis will come, after which cryptocurrencies will start to rise in price again. At the same time, in the future we will see completely new rules, because today more and more countries are restructuring legislation in line with the digital economy. An example is the United States, where they plan not only to control the savings of their own citizens, but also to oblige all countries to report on any transfers to American agencies. Uncle Sam plans to take full control of cryptocurrencies, which will allow him to access every transfer on the planet. Theoretically, this will allow you to block any wallets, which conflicts with the very logic of cryptocurrencies.
No less grandiose plans are being built by the government of England. The management of the Central Bank sees an urgent need for control, which will lead to increased confidence in cryptocurrencies from potential investors. At the same time, it guarantees the stability of assets, reducing the risks of misuse of the financial system for terrorist and other illegal purposes. This means that cryptocurrencies will be equivalent to ordinary money, which will give the state all the levers of managing digital assets. Against this background, it is worth noting that even today there are schemes for laundering the dollar money supply. Well, instead of solving pressing problems, which, by the way, are very difficult to solve, the Anglo-Saxons prefer to shake up another structure. However, nothing new.
No one said that cryptocurrencies do not need control, but it clearly should not go beyond certain limits, because then it will be completely different assets that have nothing to do with the current status of Bitcoin. In the meantime, politicians are trying to give themselves the right to decide everything for everyone, experts say that for the stability of digital gold, the ratio of the profit received (even potential) to unrealized losses is important. It all depends on how much you bought your coins for. So, today more than 16% of long-term Bitcoin holders have unrealized losses. At the same time, 28.5% of short-term investors have gone into negative territory, which means that most of the holders can boast of profit. For comparison, in 2018, 34% of long-term investments were unprofitable, which negatively affected market sentiment.
Again, it is too early to bet that the market will soon come out in the plus. The global economy is just entering the stage of recession, and high inflation around the world will only increase. Experts believe that the market needs stability, which means that this need will be realized. But in what way is still unclear. Judging by the increasingly aggressive statements of American politicians, it will soon become difficult to own Bitcoins in Russia. It is clear that this does not apply to cold wallets, although we do not yet undertake to predict certain consequences of the destructive actions of the United States.
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