No suspense! Bitcoin (BTC) hit $33000 for the first time!

Bitcoin (BTC), the world’s largest virtual currency, continues its extraordinary rise. Creating myths! On Saturday morning, January 2, bitcoin sailed past the $30000 threshold for the first time in its history, and jumped as high as $33000 by late Saturday afternoon before sliding back below $32000. In early September 2020, the leading cryptocurrency transaction price was about $10000, and it was not until December 16, three weeks ago, that bitcoin broke the $20000 mark. The day after Christmas, bitcoin soared to more than $28000. In December alone, the largest cryptocurrency was up nearly 50%, and on Saturday it was up nearly 9%. Bitcoin is now worth more than $600 billion. But bitcoin is not the only crypto asset that added value on Saturday. Other smaller competitors, such as chainlink, litecoin and Ethereum, also saw price increases during crypto trading. At the same time, several encryption experts have expressed their views on the recent rebound. Nicholas Pelecanos, head of trading at NEM encryption, predicts that the value of the largest cryptocurrency could rise to $50000 by February 14. Similarly, Scott minerd, chief executive of Guggenheim investments, said in mid December that the price of bitcoin should eventually rise to about $400000. Of course, not everyone supports this view. Glen Goodman, a cryptocurrency trader, takes the opposite view. “History has warned people to buy new historical highs. Although I’m positive about the long-term holding of bitcoin, we had a similar market situation four years ago, and bitcoin also had a wonderful rise story, but after only two weeks, the price dropped by more than a third in a short time This needs to be vigilant. Crypto assets have a long history of volatility and several analysts expect to correct the recent rally sooner or later. The first major price surge occurred in 2017, when bitcoin climbed to around $20000, but lost more than 80% of its value over the next 12 months. Is fiat money meaningless? Leading cryptocurrency has grown very rapidly than last year, as it has seen a wide range of paintings from retail and institutional investors who are mainly more interested in digital currency as a haven asset during the new crown pneumonia pandemic. There has been a loss of confidence in government backed fiat money, which has been accelerated by the economic impact of the new crown pneumonia pandemic. Many institutional investors have decided to adopt virtual currency. Companies such as PayPal have increased their support for encrypted transactions. During the coronavirus pandemic, many retail investors also used digital currency as a safe haven. Next, how high bitcoin can go and how long the rise will last? No one can tell clearly. But according to the endless rise and no downward trend, it is a good choice to hold the coin and wait and see.

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