Cryptocurrency experts are confident that bitcoin will continue to grow in the near future

Crypto analyst, crypto trader, and YouTube blogger Jason Pizzino said that no adverse conditions will be able to stop the bullish momentum of the flagship cryptocurrency in the foreseeable future. The analyst told his 284,000 subscribers that neither bitcoin nor the stock market is threatened by economic regression, as BTC is still afloat despite the possibility of a recession and problems in the banking sector.

«Bitcoin has been trading above $ 25,000 for almost two months. Despite the difficult situation we have seen on the market, nothing will prevent BTC from reaching $ 30,000, $ 40,000, and perhaps even $ 50,000 this year…» the expert thinks.

According to Pizzino, those who want to get the main crypto asset at a more favorable price will most likely be left with nothing. The trader believes that after bitcoin «survived at the beginning of the year, having received many bearish signals,» the cryptocurrency should be in the price range of $ 32,000 to $ 42,000.

«If people are expecting lower prices [на біткоїн], the market is telling us: there won’t be any now. Even a strong bearish signal, as was the case with the $ 19,500 figure, did not work. The collapse of Silicon Valley Bank, and then Credit Suisse, and even Deutsche Bank, did not work. This means that the market will recover from a micro and macro perspective. What could happen? Maybe we will exceed $ 32,000, maybe $ 34,000. Maybe even $ 42,000, we’ll see,» Pizzino summarized.

At the time of writing, the flagship cryptocurrency is worth $ 28,153, which is 2.61% lower than yesterday. The coin’s market capitalization is $ 545.2 billion, and daily trading volume is $ 1.17 billion.

As a reminder, a sudden drop in the flagship asset BTC $60,214.08 Bitcoin -2.75% Market capitalization $1.19 trillion VOL. 24 hours $1.69 billion and the leading altcoin ETH $3,302.60 Ethereum -3.20% Market capitalization $396.95 billion VOL. 24 hours $0.82 billion was recorded yesterday, May 7. Over the past day, ethereum fell by 7%. The main reason for this was the actions of the Ethereum Foundation, which sold about 15 thousand ETH coins for a total of $ 30 million.