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Is Bitcoin expected to rise?

Will Bitcoin keep rising?

bitcoin price to rise

Bitcoin is a decentralized digital currency that cant be controlled by any administration whether private or government. It can be transferred from user to user based on the P2P network. It has no need for any intermediaries. Blockchain technology is used for the verification of Bitcoin transactions.

Bitcoin price in 2010 was $0.08. Since then Bitcoin prices are rising. Recently it has jumped to an all-time high above $54,000, setting it on a course for a weekly jump of 11%. It has grown roughly 64% up to the date this month. 

What is the current price of Bitcoin?

Increasing acceptance among mainstream companies and investors have fueled the bitcoin price to rise to new all-time highs. And now it rallies towards the $100,000 mark. It recently surpassed the trillion mark. Bitcoin price right now is above $57,000. 

After reports of Tesla investing 1.5 billion dollars in bitcoin came out in the media more and more companies have invested in Bitcoin. This has increased trust and faith among the investors about investing in Bitcoin.

Bitcoin Price chart history

Bitcoin investors have seen many highs and lows in the past 10 years. Bitcoin has shown high volatility over the years with double-digit inclines and declines. The environment of bitcoin was contaminated by fraudsters and scammers in its early days in absence of regulation.

Bitcoin price was $1 in April 2011 which later jumped to $32 in June. Later prices of Bitcoin fell to $2 in November that year.

In 2017, the price of bitcoin rose to $1000 price range. A couple of years later in June 2019, the price of bitcoin crossed the $10,000 mark. Later it fell to $7,112 in December that year.

The rally of bitcoin which started during the pandemic has continued till now. Prices of bitcoin are attaining new peaks every week.

Is Bitcoin rising?

According to Coindesk, we will be seeing the world's first cryptocurrency doubling before the end of the year. Several wall street personalities and celebrities have supported bitcoin.

Many private institutions have adopted bitcoin lately like Tesla, Mastercard, Paypal along many others. Bitcoin has limited supply in the market. Also, it has started gaining the attention of the public as a trusted payment method.

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