According to experts, bitcoin - the world's largest and most popular cryptocurrency - may reach $100,000 by the end of the year due to its current bull run, as the cryptocurrency market cap hovers above $2 trillion.
"Crypto assets are becoming more mainstream, with many brands accepting cryptocurrency as a form of payment all over the world." Mr Shivam Thakral, Chief Executive Officer (CEO), BuyUcoin, stated, "The current bull run is expected to continue, and we are highly optimistic that bitcoin will hit the $100,000 mark by the end of this year."
Last month, the total market value of cryptocurrencies surpassed $2 trillion, as bitcoin and other cryptocurrencies such as cardano, XRP, and dogecoin continued to rise. According to CoinMarketCap data, the global crypto market cap is now $2.29 trillion, up 0.04 percent from yesterday.
"The rise in the crypto market capitalization indicates that crypto assets are becoming more widely accepted around the world." Mr Thakral, CEO of India's second-longest-running cryptocurrency exchange, added, "The world's oldest cryptocurrency, Bitcoin, has seen a fantastic rally recently, and the latest ethereum upgrade, also known as London Hard Fork, has boosted the ether price."
Last month, Bitcoin's price surpassed $50,000 for the first time since May, continuing its recovery from a long slump, as investors bet that more US stimulus spending would lead to further gains for the virtual currency. Since hitting a yearly low of $27,700 in January 2021, Bitcoin has risen by around 81 percent.