What caused the rise in the bitcoin rate to $ 22,000 and what will happen next?

Yesterday, on December 16, the Bitcoin rate on most of the largest crypto exchanges exceeded $20,000 for the first time. And already on December 17,on Binance, the quotes of the first cryptocurrency exceeded the $ 22,000 mark. As of 08:48 Moscow time, BTC is trading at $ 22,100 thousand, over the past day the growth was 13.6%, writes RBC Crypto.

Financial analyst of an investment companyRaison Asset Management Nikolay Klenov called the renewal of the historical maximum in the value of bitcoin expected. According to the expert, more and more private and institutional investors recognize the first cryptocurrency as a protective asset, “digital gold” and hedge their portfolio against the backdrop of inflation in world currencies.

“From a technical point of view, we sawthe classic scheme: Bitcoin bounced twice from a strong resistance level of $ 19-20 thousand and broke through this level on the third attempt. The technical picture suggests further upward movement of the coin, but a fall is not excluded. "Klenov warned.

Senior Analyst Bestchange agreed with himNikita Zuborev. According to him, the technical analysis of the cryptocurrency rate chart indicated the possibility of exceeding the $ 20 thousand mark, but the market was waiting for fundamental news. Most likely, a whole set of factors became the driving force.

For example, today it became known that the ChicagoThe Commodity Exchange (CME) will add futures on Ethereum in February 2021. The company emphasized that it was building on growing customer demand and sustained growth in the Bitcoin futures and options markets.

Executive Director of Klopenko Group DmitryIvanov added that in 2020, against the backdrop of the crisis, large investors - well-known companies, banks, investment funds - entered the cryptocurrency market. They provided a large influx of funds into Bitcoin.

“Now it is possible that bitcoin will grow still (up to$ 25-30 thousand), after which it will collapse, as investors want to take profits. This is possible in a situation of general stabilization of markets and the beginning of the recovery of the world economy. Otherwise, the expansion of the crisis will provide an even greater inflow of funds to the asset, which will continue to grow ", - said Ivanov.

He emphasized that a correction is inevitable, and it could well happen at the end of the year or at the beginning of the next.In the long term, Bitcoin will rise againand now there are prospects for it to overcome the current record figures, the specialist concluded.

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