Will the Rise in Bitcoin Continue? Will BTC Reach $50,000? Analysts Are Divided!

As the leading cryptocurrency Bitcoin surpassed $45,000 for the first time since January 12, analysts were divided on the direction in BTC.

According to Coindesk, Laurent Ksiss, crypto ETP expert at CEC Capital, said he expects a pullback in Bitcoin.

Stating that the reason for this correction is the possibility of investors selling profits during the rise, the expert said:

“Bitcoin’s breakout of $45,000 allows early investors investing in BTC ETFs to profit.

If we continue this rise, it may lead investors to take some profits. “If profit-taking occurs, it could trigger a reversal in which BTC could test the $42,000-$40,000 level.”

Unlike Laurent Ksiss, LMAX Digital thinks that the rise in Bitcoin can continue further. Stating that at this point BTC could rise up to $50,000, LMAX Digital analysts included the following statements in their note to their customers:

“We expect Bitcoin to rise further, possibly reaching the $50,000 level.

“Technically speaking, Bitcoin has broken out of a range and could be looking for a rally towards a new yearly high of up to $50,000.”

Bitcoin continues to trade at $45,310 at the time of writing.

*This is not investment advice.