At any point of the digital transition,…
Bitcoin is projected to create the longest monthly run in more than a year after reaching a record high of more than $28,000 over the weekend. The largest virtual currency, according to market news, reached a record high of $28,365 on Sunday, and then gave up some of its gains. Bitcoin, which is the longest growing wave since mid-2019, has risen in October, November, and December so far.
“My feeling is that we are close to a peak – although it may hit $30,000,”My feeling is that we are close to a peak – though it may hit $30,000. “Of course we should expect a round of correction, but the magnitude may be smaller. It may only fall by 10 percent -15 percent .”
The price of Bitcoin more than tripled in 2020 and caused conflicts of opinion as the epidemic escalated. Proponents are of the view that it is an instrument to protect against the possibility of a weakening currency and a large-scale stimulus package that would boost inflation, leading to the rising concern of institutional investors. Others doubted Bitcoin’s rationality as an investment and cited the past of digital currencies crashing since their crazy growth.