Bitcoin is at its highest, and potentially more coming this year!
Bitcoin has been in controversy for many reasons. From the investors to analysis, everyone has been taking an interest in its value and fluctuation. The recent hit of $41,940 (according to CoinGecko) was recorded as the all-time high of bitcoin. Some bears people believe it is the highest high and end of Bitcoin, while others consider it just a beginning.
The market is setting up all-new and high!
The CTO at Cryptocurrency exchange Bitfinex said, “The cryptocurrency technology is like a building block for the new age money. For the Bitcoin holders future seems attractive and impressive at the same time.” other last March, Bitcoin has shown almost 10x increase, a major uplift for the currency. However, with the New Year, it is no more evident that the currency has more potential.
The surge observed in the market is more than expected by the market analysis. It is astonishing to observe that the prediction from May 2020 was the opposite of what we are seeing today. Right now, we can observe the huge surge even in the first month of New Year.
Gold better than gold
The topmost grossing commodity for investment is gold, and most investors prefer to invest in it, but times are changing. Gold is solid, exchangeable, and gives the best response on payment. Right now, Bitcoin is behaving like digital gold right now. On the market chart, the progress of Bitcoin is far better and more rapid than gold. Although the pricing and value of gold are increasing, the growth rate is minimal. In comparison to that, over the last few months, or we should say days to weeks, the amazing performance by Bitcoin won everyone’s heart.
The future is near now!
Analysts and observers are coming up with their assurance when it comes to the progress of Bitcoin. The former fund’s manager of Goldman Sachs hedge Raoul Pal predicted that “Gold can make it to three or five times more in the coming three to five years, and there is a possibility of Bitcoin to hit the $1 million in the same time.” it reflects the belief and potential of the Bitcoins to make a history of their own in the coming years.
The year 2020 has been depressing and caused so many losses all around the globe due to pandemics and lockdown. It was the reason stocks crashed to death, and back up again. It seems one of the popular and appropriate reasons we can observe a huge change over in the situation.
In such a situation, investors move towards more authentic investments that are gold and silver. However, during the times, investors prefer to look forward towards the digital gold, and that is Bitcoin. It causes a huge increase in the overall value and makes it even safer, well-performing, and reaching a new level.
The collective worth of all cryptocurrencies in the combined market is more than $1 Trillion, making it more valuable than Facebook. It means the future economy will leave everyone baffled for all amazing reasons, and the investors have already taken their charge on cryptocurrencies. Bitcoin will be blooming in the world of the digital economy for all good reasons.