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In a research report by Standard Chartered, Bitcoin is predicted to hit $100,000 “in late 2021 or early 2022,” along with a huge Ether ( ETH) price spike. They also mention that BTC has a possible valuation of $175,000. Standard Chartered also made these optimistic points about the future of cryptocurrency:Why is bitcoin going down?
Possible reasons for why the Bitcoin price is going down: Dell is selling their first bitcoins. The whales (big Bitcoin holders) are selling. Investors think Bitcoin is still in Bubble territory. There is no real reason to go up, and crypto in general doesn’t seem to like stability, so it either goes up or down.Will bitcoin price go down?
As a general rule, whenever a large amount of Bitcoins is being sold on the market, it will drag Bitcoin’s price down since the sell pressure increases. For example, in certain cases, the FBI or different authorities seize substantial amounts of Bitcoin from illegal operations.