The price of Bitcoin (BTC), the world’s largest cryptocurrency, revived the bullish trend, surpassing $60,000 for the first time ever.
As of 10-11am on the 14th (Korean time), the price of Bitcoin (BTC), the number 1 cryptocurrency in the market capitalization of CoinMarketCap, a cryptocurrency exchange, rose 7.60% from the $61,000 level compared to 24 hours ago. The deal is taking place. The bitcoin price, which had been slowing down, has surpassed the previous high of $58,350, exceeding the previous high of $58,350, and surpassed the $61,600 range.
On the day, CNN said, “This year’s bitcoin price soared 107% from the closing price ($28,987.60) on December 31 of last year.” The news of the adoption of bitcoin by leading financial companies such as Mastercard and the spread of the perception that it is rarer than gold or other precious metals seems to be the reason for the price increase,” he diagnosed. “Investors have recently been driven to bitcoin because of the perception that if bond yields continue to rise, it can be a good hedging tool for weakening the dollar and inflation.”
“As President Joe Biden signed a $1.9 trillion stimulus package, the fear of inflation grew. Some are concerned that if the stimulus package overheats the economy, inflation could be even higher,” he said. “In particular, with the current corona19 vaccination rate rising, many people are returning to work, which will boost the economy and raise the price of bitcoin even more,” he predicted.
Cointelegraph, a medium that delivers news about cryptocurrency, said, “As the price of bitcoin exceeded the $60,000 level thanks to strengthening fundamentals and supporting institutional rights, many analysts set their next target price at around $72,000. , It is predicted that if it exceeds this price range, it will be able to reach the 100,000 dollar level.”
In particular, Cryptoglobe, a cryptocurrency medium, pointed out, “What should be noted is that there are a number of predictions that the price of bitcoin can enter the 100,000-dollar range this year.” Peter Schiff, CEO of Europacific Capital, who claimed that there was a bitcoin price after breaking the $50,000 mark, admitted that the price of bitcoin could break even $100,000 in the future, and became a star investor of the popular TV show Shark Tank. The famous Kevin O’Leary also changed his stance on bitcoin, saying that the market capitalization of bitcoin could reach $20 trillion, and Jesse Powell, CEO of Cryptocurrency Exchange Kraken, said that the price of bitcoin will surpass $1 million over the next 10 years. It may be possible, and in the long run, it is expected that it can go to infinity.”
On the other hand, with the bitcoin price surpassing $60,000, the market cap ranking is now surpassing the alphabet (Google). According to the asset data platform Asset Dash, Bitcoin currently has a market capitalization of $1,138.6 billion, which is ranked 6th in the world’s asset rankings, and Alphabet is ranked 5th with $1.392 trillion.