Everyone rejoiced at the news that Bitcoin broke $30,000. This is a big milestone for the cryptocurrency and the entire industry. The value of Bitcoin has surged since January 2020. This increase can be attributed to the entrance of institutional money to the cryptocurrency and overall awareness of Bitcoin and cryptocurrencies in general.
The price of Bitcoin has been steadily rising at its current rate. At this point, it’s been more than three years since the beginning of the halving event. Additionally, forks attract new users, which increases its market cap.
A market cap over $1 trillion is still far off. But with the increased adoption of Bitcoin and other cryptocurrencies in less developed countries, it won’t be long until we reach this milestone.
As a result of cryptocurrency’s meteoric rise, many people are wondering what the future holds for Bitcoin. The answer is that we don’t know. We know that cryptocurrency will continue to disrupt existing financial systems, but we still don’t know where it will end up.
The value of each Bitcoin is derived by how much other people are willing to trade it for. The more merchants start accepting Bitcoin as payment, the higher its price goes.
It’s getting harder to keep track of all the new players in the space, but institutional money is starting to enter bitcoin. Pantera Capital, one of the most well capitalized hedge funds in the cryptocurrency space, will manage over $500 million in assets for Bridgewater Associates, a $160 billion hedge fund. Pantera plans to bring 0x protocol exchange protocol that allows for instant transactions into the blockchain industry.
As the value of Bitcoin continues to rise, this is a big deal. Not only will it increase the market valuation of Bitcoin, but it also increases the credibility of digital currency in general.
As Bitcoin continues its rise, reaching peak value since 2017, the world is finally taking notice. Wall Street is investing in it, Bloomberg announced it will provide cryptocurrency trading services, and JP Morgan & Co. are creating a cryptocurrency exchange.
Bitcoin broke through $34K for the first time today, with institutional money pouring in. It is now worth $30K for the first time in history, shattering even the wildest predictions from 2017.
The price of Bitcoin is now at more than $30K per one BTC, which is a record high. It’s likely that many institutions around the world are now investigating the cryptocurrency, trying to understand what it is and what advantages it might offer. The price of Bitcoin has risen more than 1,000 percent over the past year and is still rising each day.
Bitcoin finally breaks 30.