Price Of Bitcoin At All Time High

January 7, 2021 | Investopaper

The price of the virtual currency Bitcoin has risen to over 37,000 dollars. Bitcoin’s turnover has risen sharply in recent days, with prices reaching new heights. According to the Coin Desk, the price of Bitcoin rose to $37,476.63 on Thursday. 

With the recent growth, the market capitalization of Bitcoin has reached over $696 billion. Last year, the price of bitcoin rose more than 300 percent to almost $29,000 for the first time. 

‘Bitcoin is set to compete with gold as an alternative currency, and in the long run it could reach a high of $146,000’ US investment bank JPMorgan said in a note on Monday. 

The price has risen over 29 percent so far this year. During the current epidemic of the corona virus, Bitcoin has been taken as a hedge against inflation like gold. However, critics see it as a speculative investment asset. They are also warning that its inflation bubble could burst at any moment.


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