- Bitcoin is the largest cryptocurrency in the crypto universe with a market cap $1.1 trillion.
- Bull investors are hoping that Bitcoin will reach anywhere further all-time-highs before the year ends with estimates ranging from $80,000 to $168,000.
- Come dive into the complexities of the crypto world with Business Insider in a new monthly comic strip we like to call 'Bitter Coin'.
Bitcoin hit an
all-time-high of over $67,000 earlier this month. However, the rollercoaster continued with the world’s largest cryptocurrency — with a market cap of $1.1 trillion — dipping to below $60,000 as investors booked profits and then rising back up again as the market course corrected.
Investors and analysts believe that the ride is
far from over. Billionaires like Tim Draper are betting on Bitcoin hitting at least $100,000 this year while blockchain analysis firm Fundstrat believes that the
cryptocurrency could even breach $168,000.
The reasons behind why Bitcoin is thriving range from El Salvador’s move to give it the status of
legal tender to investors merely
looking for a reliable asset to plant their money in times of rising inflation.
No one (crypto) coin has a definitive lead in the market but Bitcoin is definitely the crowd favorite as things stand.
Here’s the third story in a series that we like to ‘Bitter Coin’:
In case you missed it, you can read the first and the second part of the series by clicking on the links provided.