Bitcoin may reach $30,000 in the first half of 2023 before continuing to soar above $40000. This is due to a lack of financial assets, and the increase in military and political instability worldwide as a consequence of the war in Ukraine, Serhiy Tron of White Rock Management said.
There has been a global shortage of financial investments in recent years. Investors are paying greater attention to the bitcoin market than usual because they cannot see a draw of new interesting projects that could attract them. The crypto investor makes note of an increase in investment activity in the Asian region.
“Secondly, there is an increase in investment activity in the crypto market in the Asian region, where I see a great prospect and investment volumes. Local regulators stimulate it. For example, in the fall of 2022, the authorities of Hong Kong, claiming the status of an Asian crypto hub, promised from June 1, 2023, to legalize retail operations with crypto and other digital assets, as well as exchange-traded investment funds working with these assets,” Tron said in his column in the Ukrainian Information Agency’s Ukrainian News.
The combat actions in Ukraine, in the investor’s opinion, are another element influencing the development potential of the bitcoin exchange rate.
Predictably, the world’s total military and political turmoil has worsened as a consequence of what is happening in Ukraine. In order to strengthen the anonymity of investments and payments, it also pushed a portion of capital to migrate to the cryptocurrency market. As a consequence, Bitcoin’s prices are supported by growing demands.
Since December 2022, there has been an upward trend in the price of BTC. It swiftly reached $24,000 in the first two weeks of 2023, sometimes rising to $25,000. With an ongoing growing economy, it is expected to rise further.