Analyst Willie Wu believes that on-chain metrics show investors’ acceptance of a new price level, and the total market value of an asset is highly likely to no longer fall below the symbolic $ 1 trillion mark. Thiswillhappenwhenthepricefallsbelow $ 53,590.
At the same time, analysts at the banking conglomerate Deutsche Bank said that after reaching a capitalization of $ 1 trillion, bitcoin became “too important an asset to be ignored.”
According to experts, the price of bitcoin may continue to rise while it attracts new large investors such as asset managers and companies. Nevertheless, the limited availability of the cryptocurrency market will remain the reason for its increased volatility, according to Deutsche Bank.