Today, the crypto market looks better with all the important coins trading in the green.
At the moment of writing this article, Bitcoin is trading in the green as well, and the king coin is priced at $10,372.38.
The coronavirus pandemic triggered the following reaction among others: banks debased their corresponding currencies in an effort to contain the financial fallout that’s been caused by the global crisis triggered by this pandemic.
The US dollar fell to the lowest levels since back in 2019 as the Federal Reserve injected trillions of dollars into the financial system.
There have been lots of Bitcoin predictions remodeled in order to incorporate the impact that this new variable has and they are anticipating what the future is holding for the king coin.
Capital.com notes that there are all kinds of forecasts from Bitcoin going from $10k to $1 million but all of these are sharing a common ground – the digital asset will be going up.
“The value of Bitcoin against the US dollar has surged 67.5 percent so far this year despite the plunge that the cryptocurrency saw during the broad-market sell-off triggered by the pandemic between late February and March,” the online publication mentioned above writes.
They continue and explained that “However, BTC has surged against the greenback 182 percent since its March lows of $4,190 per coin and it was trading at $11,835 per coin at the start of September, after a rally that had been primarily fueled by investors seeking to protect their wealth against a potential rise in inflation rates.”
They also address the factors that are driving the price of Bitcoin and we recommend that you check out the original article to find out all the details about their analysis.
There have been all kinds of bullish predictions about the price of BTC these days despite the recent fall in price.