This year, Bitcoin has been on a roll but now Bitcoin Sits Pretty Value of $17k that is the highest value in three years. Doubtlessly, BTC is the world’s best cryptocurrency and the rate for this cryptocurrency exchange is reached around $17k. As per the data from the website CoinDesk, BTC reaches to peak since January 2018.
Read Also: US DIGITAL DOLLAR
In this context, experts say that surge in the bitcoin exchange rate is due to a number of factors like the Covid-19 pandemic and involvement of the giant investors like Stanley Druckenmiller and Tudor Jones. Moreover, many big size companies also invested in BTC this year. Consequently, BTC took a leap in the price and witnessed a total of 137% rise year-to-date.
Reason Why Bitcoin Sits Pretty Value of $17k
Charles Hayter, CEO of CryptoCompare states that:
Number of key players in the digital asset market is the primary reason why bitcoin is witnessing such a miraculous rise into the value
In addition to this, he states that:
Dramatically, the gap between the crypto world and conventional financial systems has reduced this year. Consequently, incumbent players are fine and find it okay to play into the digital asset market. The covid-19 situation, political restlessness, and monitory policies are compelling them to invest in digital asset market
Moreover, this surge in BTC price is also derived from the host of giant companies showing interest in investing in the crypto world. For example, PayPal allows its users to sell, buy, and hold digital assets. In addition to this, Fidelity Investment introduced a separate digital asset section to allow clients to trade in crypto assets.
In one sense, Bitcoin is like gold and even some experts say that BTC is going to supersede the gold in near future. Traditionally, many investors see BTC as ‘Safe-Heaven’. Economic turmoil compels investors towards digital assets. Currently, Bitcoin Sits Pretty Value of $17k but we can predict even more rise in the near future. So, we can easily predict that BTC is going to be the Global Currency and will take over the world markets.