Bitcoin price crash doesn’t mean $50,000 level can’t happen this year: strategist

Bitcoin price crash doesn’t mean $50,000 level can’t happen this year: strategist

The bitcoin (BTC-USD) believers remain firmly entrenched in their outlook for prices this year for the benchmark cryptocurrency despite the onset of another crypto winter.

"Though regulatory uncertainty in the U.S. and elsewhere remains, BTIG Strategy and FinTech [teams] see the long-term case for digital assets — the transformational power of blockchain, a store of value in an increasingly uncertain and inflation prone world — stronger than ever, and we reiterate our year-end 2021 price targets for bitcoin, $50,000, and Ether, $5,000 and would take advantage of the present weakness to add to core holdings," penned BTIG strategist Julian Emanuel in a new research note to clients.