Despite negative effects on Bitcoin, such as the ban in China, which have driven down the cryptocurrency's price, several experts and analysts see short-term growth that could even lead the price of Bitcoin to reach $100,000 at the current exchange rate.
In August 2021, Adrian Zdučczyk, a crypto expert who predicted Bitcoin's successes, predicted that a 90% drop would follow immediately.
Some sectors are proposing that the United States Securities and Exchange Commission approve a Bitcoin Exchange Traded Fund (ETF). Through this system, investors in the ETF would profit from rising Bitcoin prices and lose from falling prices, but without ever buying any Bitcoins. The widespread belief is that this would attract all types of investors, including those with limited confidence in the cryptocurrency.
How high can cryptocurrency prices go after China's decisions? Several experts explain why they believe the upward trend will not slow. And if it does, the price of Bitcoin would most likely enter a significant upward trend.