There is nothing like a good correlation between cryptocurrencies to have produced what many predicted, but what everyone really agreed on. And is that the first virtual currency in the crypto market is placed at levels that did not visit since June 2022 and now the bets go much further for the possibilities of the value.
Bitcoin is undeniably the best asset, as far as market returns are concerned and it seems that it will remain so. Investors are sovereign and dictate what is now due: to consolidate the $30,000 per asset mark that the value has not visited since last June and that is accompanied by or that has driven it, for several reasons.
The first is the arrival of Shanghai Update, commonly known as “Shapella” in the market, which has revived the market against many expectations. The second is good inflation. Rather, it is the safe-haven value that many investors see in Bitcoin, which has taken Bitcoin to incredible heights so far this year. Many agree that there are currently two factors.
On the one hand, due to the consolidation and value of new highs, on the other hand, this upward momentum will have desirable continuity as Bitcoin re-attacks its historical high in November 2021 at $69,000 per asset. This indicates, according to Tether chief technology officer Paolo Ardoino that the cryptocurrency can retest record levels set 17 months ago.
Will Bitcoin reach $1 Million by 2025
In Bitcoin’s price chart can be observed that the asset has once again appreciated strongly in the last week, by 9.27%, which translates into monthly gains that already reach 13.6%. Its quarterly performance continues to be remarkable, with gains of 53.6%, while year-to-date gains have reached 84%.
But there are still those who, under certain circumstances, continue to think more than big with respect to the price of Bitcoin in the middle term, in two years’ time, for example.
Samson Mow, the CEO of the crypto company JAN3 sees that there will be a round million dollars to Bitcoin in 2025, as he has created the infrastructure for the adoption of Bitcoin Savior as an official currency.
In terms of market capitalization, it is back in the top 10 globally this year with just over $587.39 billion, below two giants this year, which also in the US corporate technology arena have gained ground in the current fiscal year; they are NVIDIA and Tesla. This makes up 44.3% of the global cryptocurrency market capitalization, reaching $1.33 trillion.
As for the fear and greed index, the stock has clearly entered the greed zone, reaching 68 compared to the neutral territory of 61 last week and 51 last month.
And from Bank of America, the potential bullish rally and its continuity for Bitcoin are endorsed with new arguments that go through the flows between cryptocurrency exchanges and personal digital wallets.
In fact, the firm’s strategists, as Bloomberg reports, sent 368 million dollars net to personal wallets in the week of April 4 a period of time in which the second-highest net outflow of the year from crypto exchanges was recorded.
By Marina Meza
