By Kevin Mwanza
The price of bitcoin went parabolic to reach $19,000 and seems on track to break the previous $20,000 record high. In November alone, bitcon added more than a third of its value, according to Reuters.
Analysts say that the bitcoin bull run is still on despite signs of volatility that make some question whether it had reached a top.
So what are traders, investors and analysts saying about bitcoin’s extraordinary price rally?
1. ‘$20,000 is within reach in 2020‘
“(I am) 90 percent confident we’ll see $20k by year end, (as it’s) blown through a number of key resistance levels,” said Ryan Selkis, the founder of crypto research firm Messari, in a Fortune.com interview.
Selkis cited bitcoin’s recent embrace by PayPal and institutional investors.
The price could soar even higher in January if more fund managers, many of whom are safely locking in their year-end performance fees, decide to dip their toes in crypto in 2021, Selkis added.
2.The rich are investing in it
New data suggest that more high-net-worth individuals are growing fond of cryptocurrencies. Bitcoin, being the largest digital currency by market Click here to read entire article