Crypto Market Cap Hovers Above $ 2 Trillion, Bitcoin Could Reach $ 100,000 By Year End: Experts

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Bitcoin could hit $ 100,000 by end of this year, experts say

As the cryptocurrency market cap surpasses the $ 2 trillion mark, bitcoin – the world’s largest and most popular cryptocurrency could hit the $ 100,000 mark by the end of this year with its current bull run, experts say. (Also Read: Crypto Market Recovers $ 2,000 Billion Market Cap, Fueled by Bitcoin Gains)

“Cryptocurrency assets are becoming mainstream, with many brands across the world accepting 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 Mr. Shivam Thakral, CEO of BuyUcoin.

The total market value of cryptocurrencies surpassed the $ 2 trillion mark last month as bitcoin continued to climb along with other coins such as cardano, XRP, and dogecoin. Currently, the global crypto market capitalization is $ 2.29 trillion, registering an increase of 0.04% from yesterday, according to data from CoinMarketCap.

The surge in crypto market capitalization indicates a wider acceptance of crypto assets across the world. Bitcoin, the oldest cryptocurrency in the world, has seen a fantastic rally recently and the latest upgrade of Ethereum, also known as London Hard Fork, has pushed up the price of ether, ”added Mr. Thakral, CEO of India’s second oldest cryptocurrency exchange.

The price of Bitcoin broke the $ 50,000 mark last month for the first time since May, continuing to rebound after a long recession, with investors betting the prospect of increased U.S. stimulus spending would lead to further gains for the virtual asset. Bitcoin has risen about 81% since hitting an annual low of $ 27,700 in January 2021.

The cryptocurrency recovery comes as a few more established financial services companies offer their customers access to virtual coins. PayPal Holdings Inc announced last month that it would allow UK customers to buy, sell and hold bitcoin and other cryptocurrency.

The current Bitcoin rally was eagerly anticipated as we saw massive buying from retail and institutional investors during the July price drop. Bitcoin has become the most resilient and lucrative asset class in modern human history and we are optimistic that crypto will become the first choice for investors looking to build long-term wealth and win. inflation, ”said Mr. Thakral, CEO of BuyUcoin. .

On Saturday, September 4, bitcoin was last seen down 1.16% to $ 50,116 against the US dollar, while Ethereum – the world’s second largest cryptocurrency was down 1 , 44% to $ 3,906 against the greenback.

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