Bitcoin has now reached a new high, following a track between 47k dollars and 48k dollars for most of Thursday. The bullish jump finally made its way across 49,000 dollars after a bumpy start of the year. Several researchers and analysts have said that the bullish behavior has been rising even more and at a “staggering rate.” But the trading volume of the historic jump is still challenging as it is low in a couple of exchanges. And there may be a reason for all the hike that’s been roughed up.
Last week’s headlines were dominated by PayPal and Mastercard adopting Bitcoin for their payments. The former already were to show the performance since the inclusion, reporting that 50% of their users were checking in on the platform twice since. The latter had announced that it would let its subscribers receive and settle payments in the digital token. A new custody unit for digital tokens was announced by BNY Mellon. Musk’s support of the oldest crypto in the world also contributed to that. This has indicated a bullish market for BTC.
Researchers Weigh In On Bitcoin
Bitcoin was the subject of several analysts’ studies following the rise. One of them said that it was very tough for BTC to be bearish at the moment. He added that no observer needed to get all technical and study the fundamentals of the digital coin to understand that. It’s as real. Another researcher said the same thing, mentioning how the market at the moment was bullish. He added that there were not many things right now that could drag BTC’s price down.
However, less than 12% of analysts have agreed that Bitcoin could cross the $1,00,000 threshold anytime soon. So, the long run of this rise still remains open-ended.
