Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Cryptocurrency forecast for November-December 2021
The condition of bitcoin is very unstable, so every investor and owner of cryptocurrencies is interested and even needs to know what to expect in the near future from this cryptocurrency.
World-renowned analysts have provided their predictions as to whether one of the most popular cryptocurrencies will be able to reach the desired peak over the next two months and what will happen on the digital asset market in this case.
Some experts argue that at the end of this year, the Bitcoin rate will reach $100,000. For example, a similar scenario was provided by specialists from the English banking organization Standard Chartered, commodity strategist from Bloomberg Mike McGlone, Blockstream CEO Adam Back and well-known author of Stock-to- Flow (S2F) PlanB. Experts estimated what percentage of the probability of a rise in price of bitcoin in the shortest two months to $100 thousand.
What's going on with bitcoin?
The possibility of bitcoin overcoming the $ 100 thousand mark by the end of 2021 is very likely, says Maria Stankevich, head of the development of the crypto exchange EXMO. As stated by Stankevich, now the dynamics and condition of the cryptocurrency are the most suitable for the dynamics of assets with a scarce value. There is another additional factor that favours the rise in price of bitcoin, this is the increased level of demand from institutional players for financial assets, which does not change in any way even despite the unprecedented high rate of cryptocurrency.
“$100,000 is a very significant and important milestone, after passing the $50,000 mark, which most investors pay attention to. I predict that this mark will be overcome by the end of 2021,” Stankevich summed up.
A breakthrough to $100,000 in percentage terms is only 55-65% of the current state, said Nikita Zuborev, chief analyst at Bestchange.ru. He noted that in the not so long history of the existence of this cryptocurrency (Bitcoin), there are many cases of even sharper jumps in a shorter time. Zuborev also added that a significant increase in the price of bitcoin as much as 90% over a period of one month could be observed in February 2021. He also added that, as a rule, at the end of the year, the state of the exchange and trade is more stable than in summer or autumn. In addition, if we analyse recent events, we can conclude that the background is favourable for the growth and development of cryptocurrencies due to the policies of Western countries.
Predictions for bitcoin
As soon as bitcoin crosses the threshold of $100,000, there is a high probability that there will be a slight decline by $7-9 thousand, after which the value of the asset will return to its previous level and continue to grow, predicted the head of development of the EXMO crypto exchange.
A more detailed adjustment and withdrawal of the market will be possible only after the cost of bitcoin reaches $110-120 thousand, summed up Nikita Zuborev. In his opinion, in the next year and a half after the growth, the bitcoin rate against the dollar will fall to $30-40 thousand due to the predominant number of "bears" on the market. It is almost impossible to make an accurate prediction of behaviour due to the unstable situation on the market and the vast number of factors that affect the market and the state of cryptocurrencies.
Read also: Factors that affect the value of Bitcoin
