FX.co ★ Mike Novogratz: I doubt that bitcoin will exceed $30,000 in 2022.

On the 4-hour TF, we zoomed out so that the descending channel fits completely into the illustration. As you can see, the quotes have been within their limits for more than a month, but the situation is almost the same as on the 24-hour TF, where the quotes are also below a strong trend line, but the downward movement has stalled. Thus, bitcoin may leave the descending channel in the near future but remain in the side channel simultaneously. Then we will have only one landmark – this channel. As before, we expect to surpass the 17,582–$18,500 range and further fall. We believe that the current fundamental and geopolitical backgrounds do not contribute to the cryptocurrency market's growth.

Meanwhile, the head of the Galaxy Digital investment company, Michael Novogratz, believes that the quotes of the main cryptocurrency will fluctuate until the end of the year in the range of $20,000-$ 30,000. He noted that, at the moment, the American and world economies are deplorable, and the dynamics of bitcoin largely depend on the actions of the Fed, which has been tightening monetary policy for a long time. It should be noted that Novogratz's opinion is still too optimistic since he allows growth from current positions up to $ 30,000, although it is certain that the Fed will raise the rate at a high rate by the end of this year. Novogratz doubts that bitcoin will be able to show strong growth in such conditions. We doubt that bitcoin will be able to show growth with such a "foundation." Novogratz also admits that bitcoin will be $20,000–$22,000 until the Fed stops raising the rate.

As you can see, there are still many opinions on the market, from the most pessimistic to the most optimistic. We believe that, in any case, you need to monitor the technical picture. You should not be guided by individual "expert" opinions if there are no buy signals. Recall that many people in the cryptocurrency sphere are personally interested in "pumping" or overclocking bitcoin since they own a fairly large number of coins. They will say anything to get other investors to buy bitcoin, thus increasing demand for it.

In the 4-hour timeframe, the quotes for "bitcoin" continue to move sideways. We believe the decline will continue in the medium term, but we need to wait for the price to consolidate below the $17,582 - $18,500 area. If this happens, the first target for the fall will be a level of $ 12,426. The rebound from the level of $18,500 (or $17,582) can be used for small purchases, but be careful – we still have a downward trend.