5 Reasons Behind Bitcoin Price Surge- Bitcoin Price Prediction 2021

Bitcoin has again seen an unprecedented rise this year, Bitcoin price surge by 300% in 2021 giving investors better returns than other mainstream traditional options

Continuing its upward rally, the world’s most popular cryptocurrency, the Bitcoin price surged and touched the record high of $40000 on the 9th of January 2021, and setting a new milestone. The cryptocurrency price has doubled in just 17 days since it achieved the psychological milestone of $20,000.

The latest gains top an eye-popping rally for the Crypto asset in 2020.

Experts are predicting the Bitcoin price can rise to more than $50000 in the first quarter of 2021.

With the meteoric surge in the Bitcoin price, Bitcoin’s market value has now exceeded $1 Trillion. This is way more than the market caps of Visa, Walmart, Amazon & other major publicly traded companies

Check the live Bitcoin price, Bitcoin market-cap, trading volume

There are multiple reasons behind the recent Bitcoin price surge which we are going to discuss in the article. We will also analyze whether this growth in the Bitcoin price is sustainable and how much it can increase in the near future.

Bitcoin Price Surge – Mass Investment In Bitcoin By Large Financial Institutions

There is a multitude of reasons behind the recent surge in Bitcoin’s price. However, one of the major reasons behind the increase in Bitcoin price is Investments from large financial institutions like Micro Strategy, Square. They have invested $425 million and $50 million respectively in Bitcoin. 

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Another major investment in Bitcoin comes from hedge fund One River, which has reportedly bought more than $600 million worth of Bitcoin and Ethereum, and on top of that company’s CEO, Eric Peters has committed to buy bitcoin and Ethereum worth $1 Billion in the coming days.

It has also led to an increase in the price of Ethereum which has doubled in the past few days.

The mind behind major financial institutions has publicly backed Bitcoin. This has also been accompanied by very public support for Bitcoin from other parts of the investment world like JP Morgan and other large hedge fund and investment firms...continue reading 5 reasons behind the bitcoin price surge

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