Current Situation of Bitcoin (BTC)
Now that the cryptocurrency industry has gained a lot of success and value, more investors are planning to jump into the crypto-pool. There are many investors that have shifted from other online trading businesses over to cryptocurrencies.
In the past couple of years, the only online trading instrument that has gained a lot of success and adoption is none other than cryptocurrencies. One of the main factors is that the industry has just too much to offer its investors. There are currently more than 5,000 cryptocurrencies flowing through the cryptocurrency markets.
Surprisingly, the cryptocurrency industry now has more than 200 million active users who are interacting with the platform one way or another.
According to reports, the entire cryptocurrency industry got a boost from the pandemic that enveloped the entire world last year. When millions of people ended up losing their jobs, they found cryptocurrencies to be their last resort.
However, the industry proved to be the most beneficial and essential for the investors, and they are now making many profits. Recently, there was a survey conducted to find out whether it is just a certain age range that is adopting cryptocurrencies or all age factors.
The results were very astonishing as it turned out that no matter the age factor, investors were interested in investing in cryptocurrencies. When it comes to investing in cryptocurrencies, the most prominent and profitable cryptocurrency is Bitcoin (BTC).
Ever since the launch of Bitcoin (BTC), it has been the largest cryptocurrency with respect to market capitalization. Back in September of 2020, when PayPal announced it was going to integrate cryptocurrencies on its platform, Bitcoin (BTC) was its first-ever choice.
Since September 2020, Bitcoin (BTC) prices have only surged and they are constantly on the rise. Towards the end of the last year, Bitcoin (BTC) managed to hit its all-time high since 2017 and crossed the $20k per BTC barrier.
When the New Year started, Bitcoin (BTC) still managed to hit all-time highs. The largest cryptocurrency in the world managed to hit its all-time high of $41k per BTC before taking a huge drop. After hitting the $41k barrier, BTC prices plunged all the way down to $30k per BTC. Since then, BTC has been hovering between the $31k and $33.5k per BTC range.
There have been many speculations around Bitcoin (BTC) where some claim that Bitcoin (BTC) prices will plunge all the way down to $20k per BTC. On the other hand, there are speculations that Bitcoin (BTC) will soon hit its all-time high of $100k per BTC soon.
As of now, half of the investors and analysts are suggesting that Bitcoin (BTC) will remain bearish while half of them state it would become bullish soon.