Bitcoin, known as the world’s most famous and largest cryptocurrency. This cryptocurrency has climbed up to a valuation of $30,000 per coin. It’s surprising to see the high demand for this currency mode where just a few weeks before it broke the record of $20,000 for the first time.
The main reason for which people use cryptocurrency as a mode of transaction is its extreme volatility nature. The delight of HODLers and Bitcoin Bros everywhere is just on there peeks after this growth suddenly. This doesn’t stop at the $30,000 mark and surged beyond the $34,000 mark over the weekend. After eliminating all ups and down currently, Bitcoin is hovering around $32,000 valuation per coin.
As per reports the arrival at the current valuation per coin is undoubtedly the result of a bull run also known as the growth period. The growth period began later in November 2020. The initial value before the growth started is $16,500 per coin, that turned to more than double in just a few weeks.
Bitcoin price journey –
HODLers or the long-time holders of the cryptocurrency have faced many raise and falls in the value. Most famously, there was a fall in the value in December 2017 which was totally unexpected and unforgettable for the HODLers. After reaching highs of $19,783.21 in just two months it falls below the $8,000 mark that’s even less than the half.
Investors with good growth before the drop saw almost 60% of total value wiped up and others with only 40-50% valuation left in hands. The most loyal Bitcoin followers and big HODLers expected the currency value to reach new heights that’s far beyond the recently touched $30,000 mark.
In December 2020, the CIO of Guggenheim, asset management firm said the valuation of Bitcoin will soon reach the mark of $400,000.
Do you agree with this high expected valuation? Share your views below in the comments.
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