We have witnessed the rising of bitcoin prices several times in the past few years, and each time, it was followed by a huge drop. But what is happening these last weeks, is different in so many ways.
The first and most important cryptocurrency in the market just set a new time high and is not showing any signs of slowing down. After Tesla Inc. and other big companies started investing in bitcoin, people’s confidence in crypto keeps increasing.
This month the price has risen 53%, and one coin of BTC was trading in the morning for $51,735.38, the highest ever registered.
Analysts say that this new record was registered because of MicroStrategy. They have been investing in bitcoin since August 2020, and it was announced yesterday they plan to raise $600 Million to buy more.
Although there are still a lot of skeptics who are waiting for this bubble to pop, researchers expect bitcoin to teleport to the $60k area very soon, especially now that it surpassed the psychological zone of $50k.
We don’t know what the future holds for cryptocurrencies, but we will keep an eye on every development, and give you all the information to make the best decisions.
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