The price of the cryptocurrency continues to rise, driven by greater demand from institutional investors.
The price of bitcoin surpassed $23,000 on Thursday for the first time in history, driven by increased demand from big institutional investors. The pessimistic forecast for the dollar and the US economy that faces a COVID-19 catastrophe are factors. In addition the US continues to place illegal unilateral sanctions against more countries on a daily basis, speeding up the transition from fiat currencies to alternatives such as gold or cryptocurrencies.
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According to CoinMarketCap data, at 9:21 am (GMT) bitcoin reached $23,535.36 , an increase of $1,433.61, or 6.49 percent, since the opening of the session.
This Wednesday, the price of bitcoin surpassed $20,000 for the first time in history, and then reached another milestone when it exceeded $22,000 following an unprecedented increase in value. Some experts have forecast a closing Bitcoin price for the end of 2021 between $100,000 and $200,000 dollars.
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Bitcoin accounts for approximately 65.9 percent of the global cryptocurrency market.
“As of December 16, the increase in the price of bitcoin has already reached 20 percent,” independent expert Mansur Guséynov told RIA Novosti. “If there is no euphoria in the market, of course the price should stop now and start to consolidate,” he said.
Featured image: File photo. pixabay.com.
(Actualidad RT) with OT content.
Translation: OT/JRE/SL
