Cryptocurrency market economist and analyst Alex Krüger has released information about Bitcoin (BTC) that can cheer up investors. In a tweet he wrote last Saturday (17), he said that a new high for the digital currency is expected soon, and could reach the mark of 20 thousand dollars. In addition, the expert said that some perspectives are showing that BTC could hit the $ 50,000 mark in 2021. Factors considered by the specialist Krüger's main argument is that despite the instability surrounding Bitcoin, especially in the last few days, there are many more positive than negative factors to influence the price of cryptocurrency. According to him, several projections indicate that in a short time the BTC should reverse its downward trend and devaluation. Therefore, the analyst says that investors should remain confident. He believes that more pessimistic trends regarding Bitcoin, including some opinions that estimate a drop in cryptocurrency to the level of $ 8,500, should not materialize. As he points out, one of the reasons for this is that the focus on the panorama of negative stocks that pull the price of BTC down ends up overshadowing the other side, focused on its solid recovery.
Expectations according to Bitcoin instability The volatile character of digital currency is one of the biggest concerns in the market, and for Alex Krüeger there are indeed headwinds blowing in the direction of Bitcoin. However, the economist believes that as long as the cryptocurrency's performance remains positive, the profitability of mining companies will remain high. Consequently, the upward trend in the medium term tends to be confirmed. However, there is a factor that can hinder the realization of this picture. What may represent an obstacle to the market, within this context, is precisely the fact that this profitability can be maintained. This is because the more profit, the tendency is for more miners to appear. This increase in a bullish market tends to present an inverse picture, with lower profit margins. What should investors should consider at the moment In recent days, cryptocurrency investors have been apprehensive about the values that Bitcoin has achieved. After a market effort, the picture of a drop below BTC's five digits was reversed. At the moment the currency has its value at 10,275. It is important to keep an eye on the market movement in the coming days. Based on the behavior of digital currency in the short term, it will be possible to draw a more accurate picture of its future.
