Currently, bitcoin is having wavy nature and it's been rising continuously in the market. Bitcoin rose high in the past week and surpassed the $18k mark which had never happened in the last 3 years. But in two trading days it did not go beyond $18k. It would be great if prices rise in the near future.

It is not at all easy to predict the future prices of cryptocurrencies, it can go high or may fall down, because the market is silent. The interest of investors can be shook off or raised depending on the certainty or uncertainty of bitcoin. It is difficult to answer any question. Similar to bitcoin other cryptocurrencies are also getting across with the same situation right now.

Due to rising coronavirus cases the pandemic has become a threat for the market. US fiscal stimulus prospects are ignored and European stocks are getting more attraction

Market is taking heights as bitcoin has continued soaring since the past few weeks. On Dec 17 the prices were all time high about $19000. This rise in prices builds hopes in investors and traders to see how much these prices will go.

The cryptocurrency has gained about 150%, almost 14 times as seen earlier. Many analysts are making inferences about what happens next, by observing the market trends and on what commodity people are spending more and more. It's all up to the market whether the cryptocurrency rises or falls.

One more reason for the price rise of bitcoin is there are few bitcoin available and the demand of buyers are increasing stated in the blockchain data firm Chainalysis on Thursday report.

The firm analysed and made a chart, where investor held and trader held wallets are categorised. investor-held wallets are those wallets whose coins are moved rarely while the trader-held wallets mean frequent sales.

Crypto Business World

CBW - External Analyst

INDIA