Bitcoin’s Price Surges as Crypto Market Turns Green

Bitcoin is the largest cryptocurrency in the world in terms of market cap. It was first introduced by an anonymous creator called Satoshi Nakamoto. To this day, it is not clear whether the Bitcoin creator is an individual or a group of people. When virtual currency was first introduced in the investment world, it was not met with a lot of enthusiasm.

Only people related to the IT industry took some interest in the flagship cryptocurrency. However, after remaining in the first position for 12 years, the Bitcoin market cap has now reached some of the biggest enterprises in the world. This year, Bitcoin managed to get an all-time high price point of 64,800 for the first time in history. However, it went into a three months stagnation period after that ATH in April. Only recently, signs of recovery have started to become visible for the network.

Some Analysts Believe Bitcoin will Reach Six-Figure Value

There are countless theories regarding the price movement and predictions for Bitcoin. There are a good number of investors who believe that the flagship cryptocurrency is going to get a price point of $100,000 before the end of 2021. Whereas, some believe that Bitcoin needs at least 5-6 more years to get a six-figure per unit evaluation.

Some investors say that Bitcoin price can only go as far as $50K before retracing down to $18K. Bitcoin is currently trading at $49,170, as noted by crypto exchange platform Kraken. The climb arrived when the Director at Fidelity Investments, Jurrien Timmer, mentioned Bitcoin in a tweet. He claimed that Bitcoin showed remarkable stamina during the 55% crash period.

The relationship between Bitcoin and Gold Mogul Peter Schiff is best described as ice and fire. Schiff has been a vocal critic of Bitcoin and blockchain currencies since the beginning of the crypto market. He has also criticized known Bitcoin maximalists like Michael Saylor for wanting to invest more of his company’s capital into investing in the flagship cryptocurrency.

However, he admitted recently that it would have been a great idea to consider investing in Bitcoin ten years ago. Bitcoin market managed to stay afloat above $30K during a strong bear pull correction. Now, the flagship cryptocurrency is on its way back to gain more traction and make a fat share of capital gains for its investors. However, Schiff is not a Bitcoin convert as he recently added that those who are not selling BTC now are idiots.

Leave a Reply

Your email address will not be published.

Related

Coins Capital Review, Coins-Capital.com – Is Coins Capital Scam Or Legitimate?

Coins Capital Trading Platform Rating 4.3 Summary Read our Coins Capital review at FStar Capital Forex and Cryptocurrency Trading blog, find the answer to your question “is Coins Capital scam or legit” and much more! https://coins-capital.com/ Coins Capital Review You have been thinking for a long time if trading is for you. You have finally […]

AI Center Indicts ChatGPT Developer of Trade Law Violations: Claims Bias & Deception

The organization alleges that the creator of ChatGPT has violated Section 5 of the Federal Trade Commission Act with the release of GPT-4. This section of the act prohibits any practices or acts considered deceptive or unfair and that affect commerce. CAIDP has complained to the US Federal Trade Commission, intending to prevent the distribution […]

Investors Excited As XRP Market Capitalization Hits $20 Billion

It’s been wide jubilation today after XRP investors heard the announcement that the market capitalization has surged to $20 billion. XRP: a cryptocurrency developed and managed by Ripple, a San Francisco, United States, distributed data company. It was gathered that the coin itself responded to this development through a climb in price – it was […]

GlobalTrades Review, GlobalTrades.io – Is Global Trades Scam or a Good Broker?

GlobalTrades Trading Platform Rating 4.6 Summary Read our Global Trades review at FStar Capital Forex and Cryptocurrency Trading blog, find the answer to your question “is globaltrades.io scam or legit” and much more! https://globaltrades.io/ GlobalTrades Review As people look at cryptocurrencies and their immense success, they are eager to start their own trading businesses. While […]

Belgium Regulator Sets To Impose New Crypto Ads Rules

The Belgium government has mandated that every firm offering crypto advertisements should register with it before launching any campaign. Henceforth, any crypto advertisement without the government’s backing would be treated as an offense with heavy consequences. According to the report, the Financial Services and Markets Authority (FSMA) of Belgium recently announced that every potential crypto […]