By the end of the year, Bitcoin will average $17,700 and its maximum level will likely be $24,600.. About this ZN. UA told Alexander Boltyan, an analyst at Esperio.

General situation.

“Ukrainians who keep money in cryptocurrency should not be afraid of their sharp depreciation. But we would recommend considering the possibility of learning to speculate in the crypto market. If this is not possible, then it is better to keep crypto savings in USDT. This coin is not subject to speculative sales,” analysts say.

According to him, Bitcoin will not fall in price even more, because now there is no unambiguous behavior for investors and speculators..

“Everyone is watching what is happening in the world and waiting for some clues about which region or which industry will develop and where you can invest for the long term.. In the meantime, no one has confidence and understanding about what the foreign policy of the United States, China, the Eurozone and other major economies of the world will be like - speculative sentiment will continue,” the analyst added..

The Potential of Cryptocurrencies.

The expert recalled that Bitcoin has not exceeded $50,000 since December 25, 2021. Despite the ups and downs, the price of Bitcoin has fallen nearly 70% since its all-time high above $68,000 on November 10..

Among the macroeconomic factors that affect the price: rising interest rates, the war in Ukraine, persistently high inflation, in addition, the United States may face a recession.

“Therefore, the growth targets at the level of 50 and 60 thousand US dollars, in our opinion, are too optimistic not only for 2022, but also for 2023,” he said..

However, there are factors in favor of cryptocurrencies. In particular, more and more signals will come from the market about the habit of business and states to pay for goods and services in cryptocurrency.. This factor, the recognition of the crypto market as a payment platform in the world, will be a strong signal for the start of price growth.. And it could happen at any moment.

“As part of the fight against inflation, banks can become redundant as they charge fees for money transfers, account maintenance, etc.. But this is not the case in the crypto market, and all money transfers occur in a matter of minutes..

If in the winter of 2022-2023 the world comes to the realization that the importance of the banking sector around the world needs to be reduced, then we would recommend buying cryptocurrencies at that moment with an eye to growth by 33-47 thousand dollars at the moment. We will not set higher whole growths for now, because there are still many US decisions on monetary policy and an unresolved war in Ukraine ahead,” he added..

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As a reminder, on October 13, the price of Bitcoin plummeted below $19,000 as the latest US government inflation data showed that prices continue to rise despite the efforts of the Federal Reserve to reduce them..