Recently the Bitcoin price has successfully managed to reach their new all-time high after they broke through the $41,000 mark on 8th January, Friday.
At present, Bitcoin has a market capitalization of more than $700 billion. This has, in turn, resulted in a huge push to the market cap of the whole cryptocurrency industry for the very first time. As a result, the entire crypto asset has now exceeded $1 trillion.
Be Prepared For Bitcoin Bulls
The bulls of Bitcoin have already stated that this wild rally is the beginning of a wild journey.
Chamath Palihapitiya, CEO, and founder of the Social Capital had recently made a statement saying BTC might easily reach $200,000. Although he was not sure of the timeframe but seemed sure about touching the price.
Several people are definitely considering buying Bitcoin as they are witnessing the hype and crazy price of each BTC. On the other hand, the astonishing price has also led to some speculations and concerns.
Many people are not convinced by the mad rally of the most expensive cryptocurrency. They think that it might be a bubble and a huge risk to purchase BTC. Some others also feel the leading cryptocurrency might just be a big fraud.
Many stock market experts also think there might be a 50-50 chance at profit or loss. This basically means that investors can have big returns or big losses, much like gambling.
There is a widespread rumor that BTC might replace gold as a safe haven or a secure wallet. The leading cryptocurrency is definitely giving tough competition to gold and might become the ‘alternative’ currency.