Allianz's chief economist, Mohamed Al-Erian, said that Bitcoin will not decline again at $ 4,000, coinciding with the third big increase in the cryptocurrency because it has become based on a solid basis .
Al-Erian indicated in statements to CNN, quoted by numbers, that this solid basis is the investors' fear of inflation, liquidity and distrust of institutions, adding: I don't think we'll ever see Bitcoin again at $ 4,000.
In spite of that, he confirmed that there are a lot of speculation about the collapse of the digital currency, and continued: Investors are realizing that Bitcoin can rise 4% and 5% daily and that there is a lot of Other factors may control its trends so just make sure that you can manage this.
Al-Erian expects Bitcoin to continue laying a foundation for it, but stressed that the most important thing is to know what it will base itself on, unlikely to become a global currency because central banks will not allow So.
and continued: I do not expect Bitcoin to fall to the zero range because it has become present in the economic system, but I also do not expect it to rise at $ 400,000.
Bitcoin crossed the $ 41,000 mark earlier this year, before paring its gains to $ 36,000 at the moment.
