For the first time since the September update, Bitcoin returned to the $50,000 mark this week. Cryptocurrency exceeded $55,000 as of Wednesday. Bitcoin can be said to be close to its record. The most popular digital cryptocurrency is now $10,000 less than its all-time high of $65,000 in mid-April.
The increase in the price of BTC was reflected in other cryptocurrencies as well. According to the latest data, Binance Coin, Ethereum, and Dogecoin have risen 15-30 percent since last week.
The total value of the crypto market is currently $2.2 trillion. That figure is up 15 percent from the beginning of October.
After a bad September for Bitcoin, analysts predict a solid end to 2021. One model of price forecasting that has turned out to be outrageously accurate in recent months’ forecasts assumes that the value of Bitcoin will be six digits before Christmas.
Cynthia Lummis, a crypto-loving U.S. senator, has released data showing that she bought $50,001 to $100,000 worth of Bitcoin.
By law, Congress members must publicly disclose their bonds, stocks, and commodity futures within 45 days of the transaction.
Earlier in the year, the Republican senator noted that she owns bitcoins valued at $100,000 to $250,000. Over the summer, Cynthia openly stated that she wants Bitcoin to become part of a diversified asset distribution further used in pension funds.
After El Salvador won Bitcoin in a legal tender, the SBB, the Swiss national railway firm, allowed customers to buy cryptocurrency at railway ticket machines.
If we consider the recent positive growth and stability of Bitcoin, we can assume that the value of the cryptocurrency at the end of the year can be $100,000.
Despite the pessimistic attitude of some experts, many of them consider the rise of Bitcoin to be just the beginning. They likely believe that a 6-digit figure can be reached by the end of the year.
We will find out shortly whether the expert’s optimistic predictions will be correct. Moreover, we will uncover whether the most popular cryptocurrency will be able to set its record. We have to keep track of current processes, and still, will Bitcoin reach 100k? The fact is that the basis for optimistic predictions exists.
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