• Bitcoin bulls anticipate new records of around $100,000 as the BTC price soars to close to $67,500

  • Bitcoin is notorious for its erratic price fluctuations. However, it has repeatedly demonstrated its ability to overcome all lows in order to reach higher peaks, demonstrating its value in the world.

    Bitcoin, which was previously valued at around $64,650 as of 12:00 a.m. in Hong Kong trading on Thursday, has soared to new heights. The world’s most valuable digital currency reached a high of around $67,000 on Wednesday, boosted by the successful launch of the first US Bitcoin futures exchange-traded fund. The second most active ETF debut has taken another step toward increasing the digitized currency’s appeal to traditional audiences.

    Exhilaration is increasing as Bitcoin’s bull run reaches new heights. In 2021, the cryptocurrency increased by 120 percent. If the sources are to be believed, Bitcoin can still reach over $100,000 in value. Bitcoin is notorious for its erratic price fluctuations. However, it has repeatedly demonstrated its ability to overcome all lows in order to reach higher peaks, demonstrating its value in the world.

    Bitcoin will be the most valuable asset in 2020, having gained more than 300 percent in the previous year. The start of this year’s summer was also well established, with the exception of a brief period when regulatory concerns from the United States to China proved problematic for the cryptocurrency. The resurgence of Bitcoin following the crackdowns resulted in a migration of cryptic activities out of China.

    The crypto industry, according to Sadie Raney, Co-founder of crypto robo-advisor Makara, is at an all-time high. The crypto craze has spread to various parts of Wall Street, with major financial institutions such as Bank of New York Mellon Corp., Goldman Sachs Group Inc., and Morgan Stanley offering crypto-related services.

    Dawn Fitzpatrick, Chief Investment Officer of Soros Fund Management LLC, confirmed that her firm held a few digital coins and that crypto was the new normal in the financial world. Lloyd Blankfein, the former Chief Executive Officer of Goldman Sachs Group Inc, has also expressed interest in the asset class.

    After conducting extensive research on the average return rates for a variety of digital assets over the last three years in accordance with the rate of gold, researchers at platform Forex Suggest claim that Bitcoin will be able to achieve a $5 trillion market value by the beginning of 2024. According to the report, the following prediction is based on a 103.5 percent average annual growth rate.

    According to Leah Wald, CEO of Valkyrie Investments, Bitcoin’s future is solely dependent on how much support and approval it can garner above $65,000. While the coin has previously traded off incoming new highs as traders booked profits, a high rise can only be predicted if the coin is able to maintain its current price.

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