January 25, 2021

CEX.IO company blog | Why has bitcoin's value quadrupled and how long will it last?

Yuri Mazur, head of data analysis department of the international crypto broker CEX.IO Broker, specially for Forbes shared his expert opinion on what contributed to the rise of the first cryptocurrency rate and what will follow.

Investors started investing in cryptocurrencies andrisky assets on the wave of enthusiasm in connection with the development of vaccines and the maintenance of stimulus measures from the world central banks, the expert said. “The money poured into both traditional platforms and digital asset exchanges,” Yuri notes.

Bitcoin has seen impressive growth over the past weeklinked to a previously filed US SEC lawsuit against Ripple over the illegal sale of XRP, Yuri explained. As a result, the Ripple exchange rate plummeted by more than 40%, and investors began to redirect investments to Bitcoin.

About the future fate of the bitcoin expertbelieves that it will grow in the first quarter of 2021, and predicts serious volatility of Bitcoin in the range of $ 25,000-50,000. deferred inflation.

What do you think about Bitcoin in the new year?

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