The price of Bitcoin set a new record a few hours ago and managed to cross $ 29,000. Many analysts now expect Bitcoin to break the $ 30,000 psychological resistance by the end of 2020.
To Report Before the recent jump, the price of Bitcoin was stabilizing at lower levels. Meanwhile, on Tuesday, we again saw a record-breaking bitcoin price.
In last night’s jump, the price of Bitcoin corrected after falling 5% and peaking at $ 29,280 and fell to $ 29,231. At current prices, Bitcoin has grown 300 percent since the beginning of 2020, and Hoodlers expect to reach $ 30,000.
Denis Vinokourov, head of research at Bequant, said in an interview:
We should expect a wave of capital investment from small investors. I expect the price of Bitcoin to exceed $ 30,000 by the beginning of the new year.
According to many experts, the entry of big names such as Sky Bridge, Copper Mitchwall, Guggenheim and Microstrategy into the Bitcoin market has strengthened the upward trend of the king of digital currencies. These companies have bought hundreds of millions of dollars of bitcoins in total.
Now that 2020 is coming to an end, some venture capitalists and investment funds are looking to buy bitcoins. This is one of the techniques of capital markets, it helps these companies and funds to be more visible to others. They buy bitcoins to say they were smart enough to enter the bitcoin market in 2020, but they will never say when they bought their bitcoins!
On the other hand, the Federal Reserve and other central banks around the world are preparing for their new financial packages. Some believe that these packages, which are provided to the public to compensate for the damage caused by the outbreak of coronavirus, will increase prices; Because they increase the inflation of the dollar.