16:56Bitcoin Price Prediction: BTC To Exceed $50,000 In Long Term, Experts Suggest
Despite Bitcoin briefly receding to around $29,000, the overall long-term outlook is still bullish for the dominant cryptocurrency, with analysts expecting it to eventually go above $50,000.
Vijay Ayyar, head of Asia Pacific with crypto exchange Luno in Singapore, told Bloomberg Tuesday that Bitcoin will be “slowly inching away at gold’s market capitalization” over the next several years. As long as it does that, the benchmark cryptocurrency would find its way above $50,000, Ayyar suggested.
Bitcoin briefly slipped below $30,000 Wednesday, almost touching $29,251 on Coinbase. It started the day at $30,366, which is already $12,000 below the previous all-time high price of $42,000. While Bitcoin is still up 80% in the last three months, it’s now 21% down versus the previous 30 days.
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