Could There Be a Bitcoin Crash Next Year?

Follow us on LinkedIn

2021 was a meteoric year for crypto, with bitcoin looking to end the year almost 70% up from its January starting value, the first big crypto company (Coinbase) going public in April, and the launch of the first SEC-approved bitcoin futures ETF in October. This year experienced a lot of volatility in the crypto space, but overall, crypto assets are worth an astounding $2 trillion as the year draws to a close; looking ahead to next year, analysts anticipate some major movement for bitcoin, reports CNBC.

Bitcoin is best known for its volatility and the allure of the gains that it can provide. However, several analysts believe that the surge seen this year could be erased in a potentially massive crash next year, as has been the historical case for the most popular cryptocurrency. In 2018, bitcoin once reached a high of almost $20,000, only to crash down to around $3,000 within the space of a few months.

“Without question, Bitcoin’s price chart appears to track many historical asset bubbles and busts and is carrying a ‘this time it’s different’ narrative just like other bubbles,” said Todd Lowenstein, chief equity strategist of Union Bank’s private banking arm.

Carol Alexander, professor of finance at Sussex University, goes a step further, expecting bitcoin to fall as low as $10,000 next year, completely erasing any gains from this year on the bearish sentiment that bitcoin doesn’t have fundamental value.

Further questions

What's your question? Ask it in the discussion forum

Have an answer to the questions below? Post it here or in the forum

LATEST NEWSUkraine's heavily armored Abrams tanks have jammers to keep drones away, but they need more protection, commander says
Ukraine's heavily armored Abrams tanks have jammers to keep drones away, but they need more protection, commander says

A Ukrainian commander praised the US-made Abrams for being better than Soviet-era tanks but said they could use more protection.

Stay up-to-date with the latest news - click here
LATEST NEWS24 top-rated products at their lowest price ever for Prime Day
24 top-rated products at their lowest price ever for Prime Day

During Amazon Prime Day, you can find top products on sale for their lowest price ever. We rounded up the best sales on our favorite products.

Stay up-to-date with the latest news - click here
LATEST NEWSReconAfrica Announces C$35 Million Underwritten Offering
ReconAfrica Announces C$35 Million Underwritten Offering

The prospectus supplement, the corresponding base shelf prospectus and any amendment thereto in connection with this offering will be accessible through SEDAR+ within two business days NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, July 17, 2024 (GLOBE…

Stay up-to-date with the latest news - click here
LATEST NEWSNavy Federal Credit Union Personal Loans Review 2024
Navy Federal Credit Union Personal Loans Review 2024

Navy Federal is exclusively for military members and their families, and has low minimum loan amounts of $250. You may be able to get a lower rate elsewhere with excellent credit.

Stay up-to-date with the latest news - click here
LATEST NEWSKinder Morgan Reports Second Quarter 2024 Financial Results
Kinder Morgan Reports Second Quarter 2024 Financial Results

Approves Cash Dividend of $0.2875 Per Share ($1.15 Annualized) Earnings per Share Flat to Second Quarter 2023; Adjusted Earnings per Share Up 4% HOUSTON — Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2875 per share for the second…

Stay up-to-date with the latest news - click here

Leave a Reply