Live-bit experts sum up a great year for Bitcoin. The popular crypto currency has completed a jump of more than 300% in the last year, and it is estimated that it will reach a value of over $ 30,000 very soon. The increased government spending and printing of money by central banks have damaged the status of the dollar and driven the jump of the currency, live-bit explain and join other experts who hold the same opinion.
Bitcoin crossed the $ 29,000 mark yesterday, after climbing 5.3% in the last day. Currency prices peaked at $ 29,280.
As a result, the price of Bitcoin has risen by more than 300% in the past year, and cryptocurrency holders now expect Bitcoin to cross the $ 30,000 mark as well – with the start of the new year 2021.
Institutional investors are seen as driving the jump in currency prices. In addition, the Federal Reserve (US Federal Reserve) along with other central banks printed money in an attempt to prevent the severe economic effects of the epidemic, and US President Donald Trump pushed Congress to perform similar effects, such as increased government spending. In the eyes of many as such, they accelerate inflation and harm the US dollar – which may be especially positive for bitcoin, which may continue to rise