The price of Bitcoin on crypto exchanges will reach 70 thousand dollars in the coming weeks, breaking the historical record dated November 9, 2021. This prediction was given to socialbites.ca by Alex Reinhardt, founder of Smart Blockchain, who commented that the cost of Bitcoin will rise to 65 thousand dollars.
“Bitcoin reached an all-time high on November 9, 2021, one year after the third halving. Later, the weighted average price of the cryptocurrency approached $70 thousand, reaching $67,549. Considering that Bitcoin is currently trading at $64,500, it can be assumed that in the coming weeks, Bitcoin may update its historical maximum and reach $70,000. Another question is whether Bitcoin can hold at this level.”
According to him, part of the current growth is due to fear of loss of profits: investors are rushing to increase their positions in Bitcoin. The crypto expert noted that in the coming months we can expect growth and sharp corrections that inevitably occur in volatile markets, especially those that are susceptible to emotional buying and selling.
The price of the cryptocurrency has been rising for five consecutive days, gaining 17% during this time. Since the beginning of the year, growth has been 40 percent.
Former crypto expert saidIs it worth selling bitcoin after a sharp increase in price?
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.