assembled.
Business

Analysts Predict Bitcoin's Rebound May Not Exceed $100,000 This Year Amid Risks

According to the South China Morning Post, analysts suggest that while Bitcoin might continue its recovery, it is unlikely to surpass US$100,000 before the year's end due to factors like rising interest rates and the Iran conflict. Alice Liu of CoinMarketCap noted the recovery will be uneven and primarily driven by Bitcoin.

Conceptual illustration of a digital coin under conflicting economic pressures, showing a cautious recovery.
AI-generated illustration

The South China Morning Post reports that analysts suggest Bitcoin might continue its rebound but is unlikely to climb back above US$100,000 this year, citing ongoing pressures from rising interest rates and the conflict in Iran as factors weighing on crypto assets.

According to Alice Liu, head of research at the crypto data platform CoinMarketCap, the crypto asset class is expected to finish the year at a level higher than its current standing, but below the peak reached last October. Liu described her outlook for crypto assets in the fourth quarter of this year as "cautiously positive," adding that the worst of the year's downturn has passed, but the subsequent recovery will be uneven and led almost entirely by bitcoin.

Keep reading

More Business