The Economist Estimated the Probability of Bitcoin Growth to $30,000 | Economy news | News

PhD in economics, financial economist Mikhail Belyaev allowed bitcoin to grow to $30,000 and more.

In conversation with Lenta.Ru on Wednesday, January 25, the expert noted that the price of a cryptocurrency is based solely on trust in it, and there is no direct connection between the crypto exchange and belief in bitcoin.

Belyaev explained that the exchange is only a technical platform for carrying out operations for buying and selling bitcoin. When one collapses, another will appear.

He expressed the opinion that the collapse of the FTX exchange had an impact on the price of bitcoin, since this happened for the first time. Meanwhile, the influence was not radical, and the future fate of bitcoin will definitely not depend on it.

Belyaev noted that the bitcoin rate will gradually rise, as there are people who bought it much cheaper and who can dump coins to generate income. In addition, according to the economist, someone believes that this is the most promising and reliable tool.

“All such nonsense of a psychological nature also fuels the rise in the price of bitcoin as an alternative material. Especially against the backdrop of reports that the dollar is leaving, that instead of it there will be something new and miraculous, ”said the expert.

In his opinion, against the background of such news, bitcoin can grow to $30,000 and more, because it has no economic justification, only psychology, where “there are no borders.”

It is noted that in addition to bitcoin, other leading cryptocurrencies are also growing in price. For example, the Ethereum rate has risen by 0.3% over the past 24 hours, exceeding $1.63 thousand per coin. The altcoin BNB, which powers the Binance Chain ecosystem, rose 4.9% to top $320, while Cardano’s value increased 1.3% to $0.38 per coin.

On January 24, during trading, the price of bitcoin rose above $23,000 per coin, adding about 1.5% per day. Bitcoin continues to rise in price despite the announcement of the bankruptcy of the large crypto exchange Genesis, while after the collapse of FTX, Bitcoin fell to $15.8 thousand.

Crypto exchange Genesis predicted bankruptcy in November 2022, the site writes The company’s liquidity problems began after the bankruptcy of FTX.

On January 20, Genesis filed for bankruptcy due to problems in the industry. As noted RT, Genesis Global Holdco and its two lending subsidiaries, Genesis Global Capital and Genesis Asia Pacific Pte. Ltd., have filed voluntary bankruptcy petitions with a US court.

In early November, it became known that the FTX cryptocurrency exchange went bankrupt in the United States, CEO Sam Bankman-Fried resigned. This was preceded by the FTX liquidity scandal, which caused the collapse of the exchange’s token, and then bitcoin.

In November, the founder of the Russian Association of Cryptocurrency and Blockchain, lawyer Alexander Treshchev, in an interview with NSN said that American regulators are not going to save the crypto industry, so the market is waiting for cleansing, a huge number of criminal cases and large landings. He admitted that financial difficulties at Genesis could shake the entire market.

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