We've all recently heard about Bitcoin breaking out of the $90k price mark, but what's next? Welcome back to the Blockbuzz blog, and let's get started on this!
Bitcoin has reached the $90k milestone, driven by the growing interest in investing, and a strong market. It is affected by some key factors, for example, there is a significant drop in Bitcoin held on exchanges, showing that more people started to hodl it instead of selling. Also, there are now over $3.2 billion in stablecoins like $USDT that flowed to exchanges in November. This boosts the market liquidity and enables higher prices. Bitcoin's $90k price surge is also affected by the U.S. presidential election, which has a positive market momentum. Bitcoin's price has also outpaced many macroeconomic assets, and even surpassed the market cap of silver! Some people say it can get the $100k milestone soon, but some even say it might go down to $70k, but who knows? Only time can tell.
So, that is all we know about Bitcoin, what do you think about it? Will Bitcoin be the future of crypto, or anything else? Leave your thoughts in the comments, and happy investing! 👋🏻