Bitcoin tops $ 22,000-observation of one step higher. Guggenheim’s Minard predicts that it will eventually rise to about $ 400,000. Part of Wall Street is also gaining interest in Bitcoin.
Bitcoin, a cryptocurrency, has risen about 20% earlier this week, surpassing $ 22,000 for the first time in trading on the 17th Asian time. Observations of one step higher are spreading.
According to the combined price calculated by Bloomberg, Bitcoin temporarily rose 5.5% to $ 22,366. It has tripled since the start of the year 2020. Cryptocurrency-related stocks rose in the Korean, Japanese and Chinese markets.
In light of the history of the ups and downs of Bitcoin, opinions differ on the future. Still, there are signs that longer-term investors such as asset management companies and family offices are playing a role in this rise.
Scott Minard, CIO of Guggenheim Investments, said Bitcoin would eventually cost around $ 400,000, citing the rarity of Bitcoin and the liquidity supply of the US Federal Reserve. He said that it would rise to.
Bitcoin Tops : Breaks $ 20,000 is far from the right level
The market price of Bitcoin (BTC), which is a representative crypto asset (virtual currency), exceeded 1 BTC = 20,000 dollars for the first time on the 16th. It has swelled about three times since the beginning of the year.
Institutional investors’ funds have flowed in against the backdrop of global monetary easing. Expectations for increased use in payments also pushed up the market. This is the largest increase since the latter half of 2017, which was booming.
Bitcoin market priced $ 20,000 on the morning of the 16th EST. After that, it rose further and temporarily exceeded $ 21,500.
“The market is entering a new territory and interest is shifting to the next milestone of $ 30,000,” said Antoni Trenchev, co-founder and managing partner of Nexo, a crypto asset lending service.
Bitcoin fell 25% in March amid the spread of the new coronavirus infection but suddenly rebounded from there. As the central bank is expected to continue reprinting banknotes, supporters have jumped at the theory that Bitcoin will serve as a place to store assets, and parts of Wall Street are also raising interest.