At the beginning of 2021, the price of bitcoin will reach its peak values, predicts the president of Newton Advisors Mark Newton.
On CNBC, the expert analyzed the cryptocurrency’s dynamics and concluded that the rally is „running out of steam,“ and we are gradually approaching the finale of the 2020 race.
On Tuesday, December 29, BTC is trading around $26,800. The largest cryptocurrency’s capitalization is approaching $500 billion.
The head of Newton Advisors said:
I think we still have a ways to go. My analysis shows that in the near term we will peak around the beginning of January.
Newton, as well as many other supporters of BTC, believes that the cryptocurrency is getting more expensive this year due to the influx of institutional investors. Such players are now staying in anticipation of another failure to buy new coins.
The president of Newton Advisors himself suggests investors to sell their bitcoins within the next two weeks. After that, he expects a correction.
The inevitability of an imminent pullback was recently stated by trader Josh Rager. In his opinion, the correction will come after reaching $30,000.
However, you should not expect a significant fall. For example, Vijay Aiyar, manager of the Luno exchange, believes that the rollback will be no more than 10-15% of the current bitcoin values.