As a researcher with over a decade of experience in the financial markets, I’ve witnessed countless bull and bear cycles. However, the rise of Bitcoin has been nothing short of extraordinary. Seeing it hit a new record high of $85,000 is not just a number on a screen for me; it’s a testament to the power of decentralized finance and the resilience of human innovation.
At 16:24 UTC, Bitcoin, the leading digital currency, reached an unprecedented peak of $85,000 on the Bitstamp trading platform.
In simple terms, the primary digital currency has seen a growth of over 100% this year (2024) following an increase of 155% in the preceding year.
The crypto king has so far surged by as much as 20% during this November.
Polymarket bettors now see a 53% chance of Bitcoin hitting the $100,000 mark during this year.
How high can Bitcoin go?
As per Blockstream CEO Adam Back’s estimation, the primary cryptocurrency might soar to a maximum of $850,000 during this current phase of market growth.
The individual referred to as “Back” forecasts that the market value of Bitcoin may eventually surpass the current value of gold.
“My call is bitcoin flips gold market cap this cycle, which if gold stayed flat is around $850K. In practice, bitcoin buying may take money from gold ETFs, pulling gold down to meet it,” he said.
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2024-11-11 19:48