- Bitcoin is rebounding but analysts expect it to stay below US$100,000 through year-end as rising interest rates and the Iran conflict weigh on crypto assets.
- Alice Liu, head of research at CoinMarketCap, expects crypto assets to end the year higher than current levels but below the peak reached last October.
- Bitcoin hit a historic high of US$126,000 last October, then a market rout wiped a record US$19 billion off its value.
- Bitcoin traded largely below US$70,000 for months after the rout, roughly half its peak price.
- Liu expects the recovery to be uneven and led almost entirely by Bitcoin, with the fourth-quarter outlook described as cautiously positive.
Quotes
“The worst of this year’s downturn is behind us, but the recovery will be uneven and led almost entirely by bitcoin”