Crypto Market Cap Hovers Above $ 2 Trillion, Bitcoin Could Hit $ 100,000 By The End Of The Year: Experts
With the market capitalization of the cryptocurrency hovering above the $ 2 trillion mark, experts say Bitcoin – the world’s largest and most popular cryptocurrency – could hit the $ 100,000 mark with its current bull run by the end of this year. (Also read: Crypto Market Reclaims $ 2 Trillion Market Cap Back Driven by Profits on Bitcoin)
“Crypto assets are becoming mainstream as many brands around the world accept cryptocurrency as a form of payment. The current bull run is expected to continue and we are very optimistic that Bitcoin will hit the $ 100,000 mark by the end of this year, ” said Shivam Thakral, Chief Executive Officer (CEO) of BuyUcoin.
The total market value of cryptocurrencies surged above the $ 2 trillion mark last month as Bitcoin continued to surge along with other coins such as Cardano, XRP, and Dogecoin. Currently, the global crypto market cap is $ 2.29 trillion, up 0.04 percent from yesterday, according to data from CoinMarketCap.
“The rise in crypto market capitalization indicates wider adoption of crypto assets around the world. Bitcoin, the world’s oldest cryptocurrency, has seen a fantastic rally recently and the latest Ethereum upgrade, also known as the London Hard Fork, has pushed the price of ether up, ” added Mr Thakral, CEO of India’s second longest cryptocurrency exchange.
Bitcoin’s price surged above $ 50,000 last month for the first time since May and continued to rebound from a long slump as investors bet the prospect of more US stimulus spending would lead to further gains for the virtual Asset. Bitcoin is up around 81 percent since its annual low of $ 27,700 in January 2021.
The recovery in cryptocurrency comes as some more established financial services companies offer their customers access to virtual coins. PayPal Holdings Inc announced last month that customers in the UK can buy, sell and hold Bitcoin and other cryptocurrencies.
” The current Bitcoin rally was eagerly awaited as we saw massive buying by private and institutional investors during the price drop in July. Bitcoin has proven to be the most resilient and lucrative asset class in modern human history and we are optimistic that crypto will be the first choice of investors looking to create long-term prosperity and defeat inflation, ”said Thakral, CEO of BuyUcoin.
On Saturday, September 4, Bitcoin last traded 1.16 percent to $ 50,116 versus the US dollar, while Ethereum – the world’s second largest cryptocurrency – last traded 1.44 percent to $ 3,906 versus the Greenback had fallen.