While the cryptocurrency market cap hovers above $2 trillion, bitcoin — the world’s largest and most popular cryptocurrency — could hit $100,000 by the end of this year with its current bull run, experts say. (Also read: Crypto Market Claims Market Cap of $2 Trillion Fueled by Profits in Bitcoin)
“Crypto-assets are becoming more mainstream, with many brands around the world accepting cryptocurrency as a means of payment. The current bull run is expected to continue and we are very optimistic that bitcoin will hit the $100,000 mark by the end of this year,” said BuyUcoin CEO Shivam Thakral.
The total market value of cryptocurrencies soared above $2 trillion last month as bitcoin continued to rise along with other coins such as cardano, XRP and dogecoin. Currently, the global crypto market cap is $2.29 trillion, up 0.04 from yesterday, according to data from CoinMarketCap.
The rise in crypto market capitalization points to wider adoption of crypto assets around the world. The world’s oldest cryptocurrency, Bitcoin, has recently witnessed a fantastic rally and the latest ethereum upgrade, also known as London Hard Fork, has boosted the ether price,” added India’s chief executive Mr Thakral. second longest running cryptocurrency exchange.
Bitcoin’s price surged past $50,000 for the first time since May last month, continuing its recovery after a long slump as investors bet the prospect of more US stimulus spending would lead to further gains for the virtual assets. Bitcoin is up about 81 percent since hitting an annual low of $27,700 in January 2021.
The recovery of cryptocurrency comes as a few more established financial services companies offer their customers access to virtual coins. PayPal Holdings Inc announced last month that customers in the UK can buy, sell and hold bitcoin and other cryptocurrencies.
“The current Bitcoin rally was much expected as we saw massive purchases from retail and institutional investors during the price dip in July. Bitcoin has emerged as the most resilient and lucrative asset class in modern human history and we are optimistic that crypto will become the first choice of investors seeking long-term wealth and beating inflation.” Mr Thakral, CEO of BuyUcoin. .
On Saturday, September 4, bitcoin last traded 1.16 percent lower at $50,116 against the US dollar, while ethereum – the world’s second-largest cryptocurrency, last fell 1.44 percent at $3,906 against the US dollar. dollars.