Over the past time, the number of owners of the main crypto coin around the world doubles approximately once a year, analyst Viktor Argonov believes. With a few exceptions, the price of bitcoin has similarly grown between 2014 and 2019.

At first glance, in 2020, the growth of the rate of the first crypto coin slowed down. But the number of asset owners is still increasing exponentially.

This summer, the analyst believes, BTC could overcome the $40,000 mark, if not for a serious drawdown in US stock indices. However, by the end of 2022, the price of bitcoin may reach $60,000 or more.

“So, the bitcoin trend is likely to remain exponential with annual doublings. Now, against the background of the global crisis, BTC is lagging behind the calculated levels, but will probably return to them in the coming months, as it returned in 2020 after the COVID collapse. Continuing the trends of past years, the base rate of BTC by the end of the year can be estimated at $56,000,” Argonov said.

The opposite opinion was expressed by Norhstar & Badcharts analysts Kevin Wadsworth and Patrick Karim. They admit that the bitcoin rate may fall sharply, to levels of $ 10,000–12,000.

“According to the chart, the price of bitcoin is in an inverted arc, opposite to the “Cup” pattern… There are a number of technical analysis methods that increase the probability to 70–80% that the price of bitcoin will make new lows around $10,000–12,000, and there are about 20–30% that it will start to grow,” Wadsworth said.

This year, the local minimum value of BTC was recorded on June 18 at around $17,600. Today, August 18, the main crypto coin is trading at around $23,500.

If the price of bitcoin starts to increase, Wadsworth believes, the crypto asset could reach $29,000–30,000. The expert believes that this is the maximum mark to which the BTC rate can rise before it starts to fall.

“We are either already at local peaks, or very close to them,” the specialist emphasized.

Which analyst do you agree with?