Crypto Currency News

Bitcoin price fails to approach the $ 50,000 barrier

The leading cryptocurrency fell back 2% in the last 24 hours

Bitcoin (BTC) continues to be unable to get close to the $ 50K barrier. The leading cryptocurrency fell back 2% in the last 24 hours and is now defending the $ 47K support. As of press time, the price of BTC is $ 47,319.

Despite the difficulty that BTC is experiencing these days to advance its bull run, optimism among analysts has not been altered. Everyone talks about the importance of defending the current floors to make the big leap, with some even suggesting that there is still room for one more drop before another rally to all-time highs.

In the last hours, the analyst and founder of Northstar & Badcharts Kevin Wadsworth assured that BTC will touch USD 100,000 by the end of the year. The expert pointed out that the current bullish cycle will end in the coming months, with an increase of more than 100% for the cryptocurrency.

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“My goal with bitcoin is close to $ 100,000. Anything above that is a huge bonus. If we get to $ 100K, I expect altcoins, Ethereum and the rest to triple and quadruple,” Wadsworth slipped in an interview with Kitco News. The British media were enthusiastic about his prediction, as his firm is close to 95% effective in its forecasts.

On the other hand, the analyst went even further and suggested that BTC could reach $ 1 million by the end of 2025. That is, a price 20 times higher than the current one.

The altcoin market had some mixed returns. Ether (ETH), the second largest cryptocurrency on the market, had a jump of 5% in the last 24 hours and exceeded $ 3,300. At the close of this note, its price is USD 3,377.

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XRP and dogecoin (DOGE) rose almost 1% and are trading at USD 1.14 and USD 0.27 respectively, while solana (SOL) and polkadot (DOT) had 10% and 19% takeoffs that took their price to USD 117 and USD 29.90.

Lastly, cardano (ADA), Binance coin (BNB), bitcoin cash (BCH), and litecoin (LTC) are down less than 1%, trading at $ 2.77, $ 470, $ 639, and $ 170 respectively.

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