According to Marion Laboure, a financial analyst at Deutsche Bank, Bitcoin (BTC) could continue to rise. Since November 2021, the world’s largest cryptocurrency has been in a bear market, and the pattern does not appear to be changing. However, this researcher believes that the price of Bitcoin will continue t rise in the future, depending on how much people value this virtual currency.
Bitcoin’s Price May Rise Further
Despite the fact that Bitcoin has had a rough six months, the virtual currency is expected to flourish in the future years. People, according to Marion Laboure, are the ones who give Bitcoin worth. Then, may push the price of this virtual currency upward.
She compared Bitcoin to diamonds and how their value has risen over the last 50 years throughout the interview.
The worth of Bitcoin, according to Laboure, is impossible to comprehend. Indeed, some things exist solely because people believe in them. As a result, Bitcoin can only exist as long as the market believes in the solutions it provides. Then, and the value it adds to the monetary and financial systems as a whole.
During the conversation, she stated that there are four factors to examine when it comes to Bitcoin’s pricing that could decide the virtual currency’s value. One of the most essential variables is psychology. That’s, because what people believe and think about this virtual currency (and many others) affects its price.
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