The cryptocurrency market has experienced a huge surge in the past 40 days. This has seen the crypto market heading towards $3 trillion.
Cryptos like Ethereum, Solana, Cardano, Binance’s BNB, and XRP have been major players and have all made gains of double-digit percentage.
As at early October, Bitcoin was $45,000, this figure increased to an all-time highs of $67,000 in late October. This was largely due to the United States bitcoin futures exchange-traded funds (ETF) launch.
This launch was the first of its king and it contributed tremendously to the surge in the price of bitcoin.
A popular bullish bitcoin buyer, Michael Saylor, says that once a full-fledged bitcoin ETF is approved by the United States regulator, bitcoin will experience an inflow of trillions of dollars.
According to him, this will help bitcoin to become the Western world’s primary asset index replacing gold.
There is a prediction that Bitcoin could hit $100,000 before 2021 ends if a full-fledged bitcoin ETF is approved by the United States regulator.
Of course Bitcoin is the major global cryptocurrency and buying it a the right time is never a loss. With the above analysis, it could be a good move to buy more bitcoin and hodl.
Also recall that the New York’s mayor-elect, Eric Adams, had said that he wants to make New York City the center of cryptocurrency industry. He also agreed to take his first three paychecks in Bitcoins. This and other announcements will surely have a positive impact on Bitcoin’s value
Bitcoin is currently dancing between $60,163.78 and $61,590.68, it value has depreciated by 2.02% in the last 24hrs.
The world’s number one coin has witnessed a trade volume of $30.62 Bn in the past 24 hours with a market dominance of 42.80%.
What do you think? Do you see Bitcoin getting to $100,000 before the year ends?
Let’s hear your thoughts. Please comment below.