Bitcoin (BTC): Ready for a price explosion?

Bitcoin is the flagship crypto of the crypto ecosystem, it’s no secret. The notoriety of the asset depends not only on its valuation, but also on its age. In a financial context increasingly favorable to its development, the BTC could gain more stripes.

Towards enhanced attractiveness for the flagship crypto?

Recently, it has been shown that investing in bitcoin (BTC) can no longer make people rich like before. However, the asset remains rather attractive. Many analysts recommend a surge in its prices in the weeks and months to come. A firm like Berenberg also believes that the flagship crypto could also oust all other cryptos in terms of enthusiasm.

To explain this positive projection on BTC, the German investment bank first relies on current global financial trends. This situation is partly linked to the announced loss of the US dollar’s hegemony in international transactions. A situation which, according to the bank, “could help highlight bitcoin’s value proposition.”

Bitcoin’s Resilience Factors

Berenberg cites another reason for how BTC would find itself in the spotlight, after hitting the abyss in 2022. It is that, given the extreme volatility in the crypto market, bitcoin is seen as the the most viable.

In fact, crypto would be less subject to the pangs of regulators who consider it a commodity. Consequently, bitcoin therefore remains the only asset that is not likely to be considered as a security. “and to be subject to an enforcement measure”. Without forgetting that “more investors recognize in bitcoin, a relevant alternative, not only among cryptos, but also in the global financial context”.

All this put together, bitcoin should recover all the notoriety and relevance that it once had. Characteristics that it lost last year, due to a more persistent bear market than expected.

For now, the asset continues its yoyos on the crypto market. In the past 24 hours, bitcoin has lost 2.32% of its valuation to currently trade around $28,600. Despite everything, analysts predict the next explosion of its courses.

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