Connect with us

Bitcoin News

BTC Re-crosses the 40k Mark, Set to Scale Past its Former ATH

Published

on

The leading currency continues to give its holders legitimate reasons for them to continue to hold it, as this time it  appears that the digital gold is aiming back for its ATH. It spiked up from its fall to the 30k range to a new range in the 40k arena just today, the 6th of February, 2021. BTC is currently dangling above $40k as at today. 

Bitcoin did a good $40,538.66 before sliding back to $40,272.56, this is being approximately up by 4.91% just today. The leading coin stands at $40,010.00 at press time.

The leading currency had set a record high of over 41k on the 8th of January but lost all this by tanking to a low of about  31.25% at about $28,845.31 on the 22nd of Jan 2021.

Read More Articles: Grayscale to Explore the DeFi Sector as the Giant Crypto Asset Manager Files Paperwork for New Trust Funds

Today’s upward turn of events was birth by the BTC rally that started a couple of 7 days ago. The leading currency boasts of a 15 day rise up by 39%.

The real drivers of this current bull run may be attributed to the WORLD.NOW bitcoin seminar held last week by the Microstrategy group and the Miller opportunity Trust cum $150 billion investment entity run by Ray Dalio’s Associates.

One Investor from QCP Capital notes:

“Bridgewater’s piece out last week had a sensitivity analysis which showed their estimates of BTC price, should private holders of gold switch to BTC,” 

He continued:

“They forecasted that should 50% of capital in gold move into BTC, that would result in a price of $85,000 per 1 BTC.”

With these recent turn of events and many projections that BTC will rise to a $150k and even a  $600k mark, what are your takes on the future projections of the leading currency? Let us hear it in the comment section below.

Advertisement
Click to comment

What's Your Opinion? Please Leave a Comment

Advertisement
Advertisement