Will Bitcoin Rise Continue? ‘$60,000 vs. adjustment ‘ Mixed views

[Digital Today Reporter Choo Hyun-woo] After Bitcoin, the leading virtual asset (cryptocurrency), which has been on the rise since the end of last year, crosses the 50,000 dollar barrier, prospects are mixed over how long the steep rise will continue.

According to foreign media such as Cointelegraph on the 17th (local time), U.S. Weather Bush Securities analyzed that the recent upward trend in virtual assets still has sufficient upside potential.

As major IT companies such as MicroStrategy, PayPal, Square, and Tesla are continuing to enter the virtual asset market such as Visa and MasterCard, it is interpreted as a sign that the digital asset era is not on a temporary rise.

In its market outlook, Weatherbush Securities argued that it should pay attention to the fact that the volatility is lower and the rise is larger compared to the 2017 uptrend. Still, the proportion of virtual assets, including bitcoin, among all financial assets is low, and there is ample room for investment in the future.

Cointelegraph predicts that the next bitcoin resistance line will be set at around $63,000.

On the other hand, JPMorgan expressed a rather cautious view through its investment report. According to a report by the Bitcoin Exchange Guide, JPMorgan said that a large amount of speculative funds are inflow due to a sudden price increase this year, and the risk is still high for short-term investment purposes.

“I don’t think the recent bitcoin rally is a sustainable situation,” said Nikolaos Faniger Choglow, an analyst at JP Morgan.

In fact, according to this background, the Bitcoin Exchange Guide said that a number of investment banks including JP Morgan, Goldman Sachs, and UBS are increasing the proportion of altcoins such as Ethereum, Polkadot, and Cardano.

Based on Coin360 at 3pm on the 18th, Bitcoin (BTC) is recording $52,211, up 5.21% from the day before. Ethereum (ETH) is trading at $1900, up 8.62%, Polkadot (DOT) is trading at $32.23, up 6.84%, and Cardano (ADA) is trading at 94 cents, up 12.89%.