"The NFT Effect". What can bring down the price of bitcoin below $ 30 thousand.

"The NFT Effect". What can bring down the price of bitcoin below $ 30 thousand.


Experts assessed the forecast of analysts of the investment company Invesco, who believe that the first cryptocurrency will continue to decline, as the bubble in the digital asset market deflates

Analysts of the investment company Invesco believe that over the past three months, the value of bitcoin has been declining, as the bubble is deflating in the crypto market. According to analysts, this year the price of the first cryptocurrency may drop to $ 30 thousand Experts of RBC-Crypto explained whether the asset can fall to this mark and what factors can lead to this.

NFT effect

One of the main threats to the price of bitcoin this year is the effect of NFT, says the CEO of the crypto exchange EXMO Sergey Zhdanov. He referred to the maturity cycle ("hype cycle") of new technologies from the analytical company Gartner, according to which the technology of non-fungible tokens is currently at the peak of popularity.

"There is a risk that there will be a reassessment of the NFT technology itself, which will cause disappointment to the community, this will undoubtedly have a negative impact on the value of bitcoin," the expert explained.

Despite the danger of revaluation of the NFT sector, bitcoin is likely to return to the historical maximum sooner or later, Zhdanov is sure. In his opinion, this will happen, since the already implemented bubbles in the crypto market, for example, around ICOs (primary token sales), did not prevent the asset from updating price highs.

"In the short term, we can see the price of bitcoin slightly below $ 30 thousand, which will be a signal for the next huge purchases and in turn will push the rate up," Zhdanov added.

Two likely scenarios

This year, the most likely implementation of two scenarios in the crypto market, says Cryptorg CEO Andrey Podolyan. According to him, the first scenario is a "sideways" movement of bitcoin in the range from $ 30 thousand to $ 60 thousand The second scenario is the renewal of the historical maximum and the achievement of bitcoin by $ 100 thousand, the expert predicted.

Podolyan also admitted that the value of the cryptocurrency can fall below $ 30 thousand, but this will be a short-term decline, which will be bought off by large investors and funds.

"It will be incredibly difficult for bitcoin to go below $ 25,000," Podolyan added.


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