- Bitcoin rises over $34,100
- The price of Bitcoin will continue to rise.
- Bitcoin beat its previous record of greatest market price value
Bitcoin (BTC) hit its highest price today at over $34,100. Since mid-December 2020, Bitcoin has been riding a massive wave. Experts say it will still continue to rise.
In the bull run back in December 2017, Bitcoin nearly hit $20,000. In 2020, Bitcoin reached another peak in mid-December and now flew past the records.
In the last few days, the price of BTC jumped excitingly close to $30,000. Until finally, Bitcoin broke through its $30,000 threshold yesterday. It continued to rise today, rushing past $34,100.
From the graph above, you can see that Bitcoin continues to soar at an incredible rate. In the last few hours alone, Bitcoin has jumped between $33,000 to $34,000.
The value of Bitcoin rose significantly since the stock market’s plunge in the early days of the 2020 pandemic. This may be attributed to cryptocurrency investors increasing innumerably in the past year.
Experts say Bitcoin may just continue its upward streak by gaining more investors. Especially considering that the Federal Reserve is expected to leave interest rates at near-zero for many more years.
Nicholas Pelecanos, head of trading at cryptocurrency firm NEM believes that we are witnessing the beginning of what will be an immense bull market. He goes on to predict that Bitcoin could likely rise to $50,000 by mid-February.