The world’s flagship crypto Bitcoin is rising, and it is gradually approaching $20,000. As at the time of writing this report, it has surpassed $18,500 for the first time since its all-time peak in December 2017. If you have bitcoin stored in your wallet, you should be making profits by now.
Some crypto experts have given bold predictions for where the price of Bitcoin could go next. Mike Novogratz, CEO of investment firm Galaxy Digital, thinks Bitcoin could reach $55,000 to $60,000 by the end of the year.
Trenchev — who earlier this year predicted Bitcoin could reach $50,000 by the end of 2020 — said there’s “increasing evidence of that upward trend.”
Crypto fans have compared Bitcoin to safe-haven assets like gold, which investors often flock to in times of economic turbulence. They claim that Covid-related stimulus measures have lessened the appeal of sovereign currencies like the U.S. dollar.
It’s fair to say that it might just be a matter of few years for the flagship crypto, Bitcoin, in overtaking the $10 trillion market capitalization of gold, taking into consideration the significant amount of limelight Bitcoin is getting among financial juggernauts in a span of just months.
If you are still new to the world of cryptocurrency, it is advisable you start your journey here, get some bitcoin for yourself because you never can tell what the future hold.
Ethereum with some other cryptocurrency is also rising gradually, surpassed $600 at the time of writing. Do you think Bitcoin will exceed $30,000 by the end of this year 2020? Let us hear your thoughts in the comment below.