TL / DR failure:
- The price of Bitcoin reached $ 67,000, which is the highest record in history.
- Experts predict that BTC will reach $ 100,000 by the end of this year.
- The first launch of the Bitcoin-based ETF is a sign that US regulators are lowering the price of cryptography.
Bitcoin finally crossed its all-time high of $ 64,895 on April 14. The world’s leading digital currency continued to rise $ 67,016 On Wednesday, that will give your annual profit Almost 130%BTC is trading at $ 66,685 at the time of writing.
After approaching the $ 65,000 mark in April, Bitcoin went into a massive recession that lasted for months. In July, the price of Bitcoin fell below $ 30,000. Investors who bought coins during that time are certainly planning a big party today.
The new bitcoin price record was for everyone in the fresh air market, but it was not unexpected. Less than 24 hours ago, the first Bitcoin-based futures ETF (Stock Exchange) was launched on the New York Stock Exchange.
What is the next bitcoin?
The word about the crypto industry is that BTC is on its way to 100K by the end of 2021 and it is no exaggeration! The first Bitcoin-related ETF traded $ 1 billion in its first 24 hours. Bloomberg described it as the largest ETF launch of all time in terms of “popular” interest.
The launch has clearly proven that US businesses will be more favorable in the near future than Bitcoin and possibly other cryptocurrencies. In general, cryptographic regulations continue to decline, at least in the United States. The fact that the US Securities and Exchange Commission has not blocked the Bitcoin-linked ProShares fund shows that government regulators are increasingly comfortable with cryptocurrency-backed products and assets.
We also cannot forget that El Salvador is promoting its mass acceptance of bitcoins. Also Wednesday, Volaris Airlines in El Salvador became the first airline to accept bitcoin as a payment. Stack Funds CEO Matthew Deeb predicted that Bitcoin’s next target would be $ 80,000 in the short term. Ulrik Leakey, founder of the popular ARK36 cryptocurrency investment fund, said that Bitcoin is likely to reach the $ 100,000 milestone, at least until the first quarter of 2022, if not 2021.
Therefore, the BTC party is likely to continue and move strongly towards the projected $ 100,000 mark. It seems the only right question right now is how fast is it going to happen?
However, not everyone is optimistic about this increase in the price of bitcoin. Some experts have warned that if next winter leads to global energy shortages, regulators may be tougher on PoW-based cryptocurrencies.
Despite all the optimism and negativity in the market, one thing is certain: Bitcoin will remain in the headlines in the coming months. It is also important to note that historically, the continuous upward trend of bitcoin has always been the focus of regulators around the world. Therefore, the next few months will be crucial.
How should investors react to the new record of history?
With all the hype and excitement about Bitcoin, it is understandable that many investors are experiencing FOMO (fear of losing). However, like other cryptocurrencies, investors need to be calm and reasonable before entering this bullish market.
Experts always recommend that you keep any potential investment in cryptography below 5% of your total portfolio. Veteran artisan billionaire Carl Icahn recently said that bitcoin would be the best way to curb inflation in the long run. This shows that bitcoin holders are holding on for a long time.
We can not give you an accurate estimate of what might happen, no one can! Market instability still exists. But the fact is that bitcoin is on the rise, and when BTC is hurt, so is the rest of the cryptocurrency market. Currently, the cows are running at full speed until the end of the year.