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Bitcoin has managed to make the recovered above$19,800 which crossed the hike of 2017

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Dec, 18 2020

Dec, 18 2020

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Bitcoin is back in the market again with a high value of more than $19,000 which indeed is good news to hear. The price of the Bitcoin was out a few days back simply to retreat back to the amount of roughly $17000 which was noted on Thursday and Friday too. The co-founder Tyler Winklevoss of the crypto exchange Gemini who is also known as Bitcoin bull also said that price is likely to go more than 25 times which surely is great news. With a new record that Bitcoin has recently set a new record post the cryptocurrency volatile and snapped back over the weekend for covering from the selloff during thanksgiving.


Further, Tyler Winklevoss added that he recently has not purchased more of the Bitcoin but still consider that there is quite an upside. The further explanation that Bitcoin is more like gold2.0 which shall actually disrupt the gold. And if this happens, and then it needs to have a cap of the market for nearly $9 trillion. This way we can actually think of the price for the Bitcoin to go with one day value at $500,000 a Bitcoin. This means when Bitcoin reaches $18000, it can either be a hold or will at least if there is no one then it shall be a purchase opportunity.


The bitcoin price actually peaked under $20000 in late 2017 before the decline was done at the dramatic level which actually left only 44000 posts 12 months. There are few people who are pretty confident about the staying power of the current rally. But since the cryptocurrency has managed to gain buy-in from the companies and investors of high profile, there seems to be a great profit. Besides, the billion hedges manager Paul Tudor added that the rally of the Bitcoin was the first inning long with PayPal and Square which are now involved in the Bitcoin space for the past few months.


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