Bitcoin Price: Is the Next Target $ 50K?


Bitcoin price broke a record, surpassing $ 48,000 after the Tesla news. Bitcoin is getting more and more popular on social media. It is thought to appeal to the investor. Examining the general situation of the market, the names announced that the next target for him could be $ 50,000.

Bitcoin, which broke the price record with almost $ 48,200, will be able to be traded at $ 50,000 if it rises by 3 percent.

‘It could be the opportunity of your life’

Some experts in the financial sector believe it will continue to gain value. Kenetic’s founder, Jehan Chu, stated that more and more corporate companies are starting to buy bitcoin. … But by the end of the year, I think it will become a once-in-a-lifetime opportunity. ” used the expressions.

Michael Bucella, one of BlockTower’s partners, spoke to CNBC and delivered a similar message. While it was learned that Tesla bought $ 1.5 billion in bitcoin, Bucella said, “We are in the early stages of this trend.” comment came.

Coinbase former CTO Balaji S. Srinivasan said, “Over time, all companies will start buying bitcoin,” he shared:

“Over time, companies will buy bitcoin and other digital assets to do business. They will need digital assets to be able to perform decentralized transactions, store decentralized files, and pay transaction fees. Think of it like a paid API key. ”

‘You will call me crazy but …’

CryptoQuant CEO Ki Young Ju believes the bitcoin price could rise to $ 50,000. Data from cryptocurrency exchanges show that they still enter a large amount of stablecoins.

Ki Young Ju read this as a buy signal and said, “You’re going to call me crazy, but I think we’ll see $ 50,000 soon.” made the explanation.

There is an interest in the sector in general

Bitcoin, the first crypto currency, has a dominance of 61.8 percent in the market. As such, a significant number of investors entering the market first meet bitcoin. However, it is known that large companies and institutions are now interested in cryptocurrencies, not just bitcoin.

One of 12 different Feds in the USA, St. Louis Fed published an article on the concept of decentralized finance (DeFi) on February 9. In this article, the Fed’s research team examined the functioning of decentralized finance projects, products and services (such as lending) in this sector.

Bitcoin is $ 46,000 at the time of writing. The ether, which exceeded $ 1,800 for the first time in its history, is traded at $ 1,750.