Bitcoin has continued a crazy rally these days and has broken down the 25k, 26k, 27k wall in a few days and is very close to breaking down the 28k, perhaps as early as today. I am convinced that not even the rudest predictions of the crypto king's supporters predicted such a favorable bullish movement. Possible 30k goal by the end of the year? At this point it is absolutely acceptable, perhaps almost inevitable.
In addition to reaching the ATH for its value, Bitcoin has also surpassed the ATH of the market cap by well exceeding the threshold of 500 billion dollars and is halfway to the trillion dollars.
The Bitcoin market cap has surpassed illustrious companies such as VISA and Samsung and is now in the wake of Berkshire Hathaway, an American holding company, and Tesla, which has been rumored in recent days that CEO Elon Musk may be interested in the asset. digital.
This figure will certainly make all market analysts reflect a lot because if there were still strong supporters that Bitcoin is a bubble, then they should really stop doing this job because, without being too technical, they are denying the reality of the facts with all their might. I'm a bit of a denier.
Another interesting data is provided by Google Trends.
Although Bitcoin has reached ATH, the search amount of the term Bitcoin is nowhere near its value as of late 2017 and this really explains us how this Bull movement is very different from three years ago. In that period, when everyone was talking about the digital asset, for better or for worse, many users were curious to know more details about it to try to understand its dynamics. Today, although the value of Google trends is higher than in recent years, it is about 1/4 of 2017, which is absurdly much fewer people are interested.
How do you explain the soaring price of Bitcoin?
Institutional investors. In this new bullish scenario, small investors play a minimalist role, large multinational companies, large institutional investors and probably a lot of businessmen are buying Bitcoin, convinced that it is a much more profitable asset than stocks or precious metals. Companies are buying now aware that when the interest of the world population turns to Bitcoin, its value will probably touch 100k or more, obtaining an increase in their invested capital of 4-5 or maybe even more.
The skill of an investor is to buy a stock early in its lowest stage and sell when it has reached a much higher value, so it is very unlikely that Bitcoin will do a big dump right now. Someone is also convinced that it can drop below 10k but at the moment it is quite unlikely.
And are you convinced that Bitcoin will hit $ 30,000 by December 31st?