Crypto market stabilization and positive forecasts
Changes in ratings among cryptocurrencies have been dynamic in recent times. However, the differences in their values that are taking place are quite different than they were in the past. In the past, a very close correlation of such trends was observed. Bitcoin was the main determinant of crypto popularity, and its increases or decreases affected the quotes of other cryptocurrencies.
Bitcoin's recent decline to a value of around $50,000 hasn't had much of an impact on Ethereum, for example. It has pretty much kept its price above the $2,000 level, and it starts to approach the barrier of its record. The latest ratings show that ETH is likely to reach a price of $2,700 or even $3,000 in the nearest future. This would be a new all-time high and fulfillment of the forecast of a $10,000 price for ETH by the end of 2021.
Bitcoin has started to gain value again. One of the best-known crypto market analysts, PlanB, argues that the recent declines are natural and do not have to mean the end of the BTC bull market. He cites historical BTC ratings from 2013 and 2017, where a similar situation to the current one followed. It was followed by a rebound and price increase in both cases.
Long-term analyses of BTC for 2021 predict a rise to a level between $90,000 and $300,000. These have been held by analysts for many months when the Bitcoin price was not yet above $20,000. This suggests that possible temporary changes in the price do not significantly affect investor behavior. The number of crypto traders continues to grow. Knowledge of investing is also increasing, thus eliminating panic in case of even the smallest losses.
The current situation shows that as the months go by, the crypto industry gains stability, which attracts the attention of institutional and individual investors. This will revolutionize financial systems around the world.
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