FX.co ★ Long-term analysts' forecasts for cryptocurrency market: BTC - $175,000, Ethereum - $35,000

Cryptocurrency experts believe that in the next 10 days BTC and Ethereum may overcome the negative trend and rise to $48,500 and $3,630, respectively. According to analysts, even serious digital currency problems in El Salvador and the US Securities and Exchange Commission investigation will not prevent virtual assets from growth.

Market experts predict that in the short term, bitcoin will be able to recover losses, and soon its price will be about $48,500.

Meanwhile, Ethereum reached tangible support levels that form a new uptrend. According to the preliminary scenarios of experts, the value of the asset may rise to $3,630 by mid-September.

The price of bitcoin has fallen by more than 10% this week after El Salvador declared digital currency an official means of payment of the state. In response to this statement, the World Bank has rejected a request from El Salvador to help with the implementation of Bitcoin as legal tender.

At the same time, the Securities and Exchange Commission (SEC) has launched an investigation against one of the largest cryptocurrency exchanges Uniswap, and has threatened to take legal action against cryptocurrency trading platform Coinbase.

As for long-term forecasts, according to experts, by the beginning of 2022, the price of BTC may reach a mark of $175,000, and the Ethereum price will be about $35,000.