Bitcoin Price Rise Predictions
Bitcoin has marked new high-$66,000 and it was the highest it ever reached, since April, when price was $65,000. Everyone is expecting Bitcoin to rise and market analysts are setting new price targets and few other predictions for the crypto.
“Bitcoin breaking its all-time high was a long time coming and had been in the making ever since the asset shed 50% of its value in May,” Ben Caselin, head of research and strategy for crypto exchange AAX, shared with CoinDesk.
Despite bitcoin shedding $2,400 in the most recent trading session, he believes the price will mark $100,000 sooner or later, and this expectation is shared by the growing number of other analysts. The latest fuel for the price elevation was the U.S. regulators’ first approval of an exchange-traded fund (ETFs) linked to bitcoin futures contracts. It gained $1 billion in trading volume, which makes it one of the most successful ETF launches of all time.
