Investors seem to have lost their taste for Bitcoin in these early stages of 2022. The value continues to lose position, consolidating 40,000 euros while we wonder if the institutions that raised the cryptocurrency to maximum levels until this widespread legitimization of digital currencies have abandoned. They do not think so from a Swiss bank that predicts a rebound to new highs driven by them in this exercise.
It is not about the predictions lightly nor about the interested estimates of crypto investors who want to lift this Bitcoin that has come down so far this year. The latest endorsement of the possible positive evolution of the asset comes directly from the CEO of Seba Bank, a Swiss entity of digital assets that in recent days spoke about the path of its price at the Crypto Finance conference held in St Moritz, Switzerland.
Guido Buehler considers that the internal valuation model they handle establishes that the price will rise this year to a range of between 50,000 and 75,000 dollars, which would mean breaking the all-time highs of last year, although he acknowledges that the volatility in the asset will continue to be very high.
His estimates pass because it will be the institutional money that will again pull the value up. All this past the patina of the greater regulation that is already being prepared on both sides of the Atlantic. Although surveys, such as the one carried out by Nickel Digital Asset Management, consider that this fact, that of the regulation of Bitcoin and the rest of the cryptocurrencies, will boost its price.
At the moment, Bitcoin has increased its price by 2.38% in the last five trading sessions with falls in the month that exceed 11.3%. In the last six months the balance is favorable, with advances of almost 36%, while so far this year, Bitcoin accumulates falls of 8.6%.
The index of fear and greed, which marks an evolution, is that indicator that moves more with the heart, due to emotional behaviors (although many would say that it is the liver that moves it) than for anything else in the world of cryptocurrencies. raise its head so far this year. And it is volatile like the idiosyncrasy itself, at least until now that has made virtual currencies so popular: it goes directly from one extreme to another, clearly marking why the balance is tipping, with no middle ground. The indicator tries to lead the way, not to signal an outright buy or sell.
Right now, your current situation marks extreme fear, in the hottest area of the indicator, clearly to your left, although not to the extreme. But that feeling that, for example, moves Bitcoin away from gains, since it has moved negative so far this year, is becoming a common trend in 2022. Better said: it is an area that has not been abandoned at any moment in the last week and in which, by the way, he has been very lateral.
And that feeling, that of certain fatigue, is what is marking Bitcoin in these early stages of the year. At the moment, volatility continues to set the tone, something that, as we see in the graph, has never been alien to the main cryptocurrency in the market. And it does not seem that inflation is conjured up, with that 7% in the United States with an eye to Bitcoin as a refuge asset: at the moment it seems that the game is won by bonds, also on account of the rise in rates in that country that the market It already discounts for March.
And all this even though Goldman Sachs does see it gaining ground on gold and with forecasts of reaching, yes, five years from now as a haven asset, 100,000 dollars.
As shown by the premium indicators produced by Investment Strategies, the total score of Bitcoin, in rebound mode, reaches 3.5 points out of the 10 possible for the cryptocurrency. With a bearish medium-term trend, while in the long term it is bullish for the asset. Total momentum, both slow and fast is negative for Bitcoin
The volume of business, in its two aspects, both in the medium and long term, is decreasing, while the range of amplitude, the volatility of the value is mixed: decreasing in the long term and increasing in the medium for Bitcoin.