Bitcoin price: yesterday – Civic, today – Tesla, tomorrow - Lambo

The growing popularity of Bitcoin leads to new forecasts for the value of the cryptocurrency. For example, CEOcryptocurrency exchange Kraken believes thatit is incorrect to evaluate Bitcoin in dollars, since the Fed continues to actively print money, and it is more correct to compare cryptocurrency with enduring values ​​such as cars.

At the beginning of 2020, one Bitcoin couldbuy Honda Civic - a car of the lower price segment. By the end of the year, the coin could be exchanged for a Tesla Model 3, accelerating to 100 km / h in 3.1 seconds. “By the end of 2021, Bitcoin will cost as much as one Lamborghini, and by the end of 2022, as one Bugatti,” said Jesse Powell, CEO of Kraken.

And the founder of Bitcoin Forecast Willie Wupredicts the price of one coin at $ 1 million. In his opinion, in the near future, the capitalization of Bitcoin will overtake gold, the volume of which is currently estimated at $ 10 trillion. Analysts from JPMorgan agree with him in the indicated trend, noting the flow of investments from the precious metal to cryptocurrencies. Expressed in gold, the value of Bitcoin continues to rise.

To meet the growing interest in BitcoinPayPal and CME expanded their services. This week, the payments giant launched the ability to pay for goods with cryptocurrencies. In preliminary surveys, 65% of platform users wanted this. Now, within the framework of PayPal, you can buy cryptocurrency, spend it on goods, store and exchange it for fiat. For now, these options are only available to US citizens.

The Chicago Stock Exchange CME from May 03 launchesfutures contracts for micro-Bitcoin (application pending with the regulator). Now the standard contract is 5 BTC (~ $ 290,000), while the size of micro-Bitcoin is 0.1 BTC. The management of the exchange expects a significant increase in cryptocurrency trading volumes, since the current value of the contract scares off even a number of institutional investors. At the same time, despite the high cost of one position, trading volumes on CME jumped 57% in January.

Cryptocurrency traders are also getting readyto continue the rally. The premium on futures contracts has climbed to 30% as more participants use leverage to buy Bitcoin. Last time, such high expectations in mid-March drove the Bitcoin price to a new high near $ 62K.

Interest in Bitcoin continues to grow and the likelihoodthe cost of achieving new heights remains high. Historically, Bitcoin gravitates towards levels that are multiples of 20,000. For our part, we assume that the coin will first reach $80,000, and then $100,000. Perhaps by the end of this year.

Analytical group StormGain

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