Experts predicted the dynamics of bitcoin until the end of the year

The cryptocurrency market today attracts many. However, the situation is ambiguous – the main digital currencies either show significant growth, then again go into a «bearish» calm. However, despite the high volatility of the market, a number of experts believe that bitcoin retains the chance to update its historical maximum until the end of 2021, despite the risks of a correctional decline to the $40 thousand mark.

Analysts note that a decrease to the $40 thousand mark as part of the correction will not lead to a collapse in prices, since in general on-chain metrics (cryptocurrency transactions in the blockchain) indicate a healthy situation in the cryptocurrency. Moreover, large market participants continue to accumulate bitcoin in wallets without selling it.

Bitcoin is trading near $43,897 today. The historical maximum value was reached on April 14, 2021 and amounted to $64,854. Analysts expect that this week the currency will be under pressure and may fall to $ 40 thousand. 

The main negative, according to experts, comes from regulators and the US financial authorities – they continue to «put a spoke in the wheel» on the way of the crypto industry development. These actions make market participants nervous and get out of long marginal positions.