The most valuable currency in the world, Bitcoin jumped to a record topping $66000, it’s an all-time high on Wednesday, and the bull market is showing no sign of slowing down anytime soon.
Bitcoin showed growth of nearly 50% from under $44000 at the end of September. The price added more than a thousand dollars in a minute just after the opening of the U.S. stock exchange.
The co-founder and chief executive of Makara, Jesse Proudman, says,” it’s a validating moment.” ” the famous question will this digital asset class continue to exist no longer a thing- this surge has made a meaningful mark in the history of digital assets.
Price started at the $65000 mark in the stock exchange opening, and hungry for gain, investors didn’t stop there as crypto’s new forward momentum continued to rise.
The surge was fueled by hopes that regulating the U.S. would not crack down on cryptos with support from big investors like George Soros and the launch of exchange-traded funds tied to the future of bitcoin.
Despite the continuous criticism of crypto from Jamie Dimon, CEO of JPMorgan Chase, who called Bitcoin worthless, some investors were expecting and now predicting big gains for bitcoin.
Naeem Aslam, the chief market analyst at AvaTrade, said, ” The forward price momentum we are seeing in bitcoin’s ETF, we think that bitcoin can easily reach $100000 by the end of the year.” As per reports on Wednesday.
The bitcoin rose high up to $66,676 on Wednesday during New York trading hours, bringing Bitcoin gains to almost 130% for the year. The largest digital currency in the world by market value gained more than 300% last year, and in the year 2019, it was 95% after a tumbling of 73% the previous year.