As the bull market has started recently bitcoin's current rate is around 17 to 18k. while some skeptics say bitcoin is gonna crash and asking regular investors not to invest in it an expert from a top financial institution said rather opposite to that.

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Well according to a Citibank analyst one of the largest bank in the world bitcoins bull market has just started now and it may take at least next yr Dec to be finished. In the meantime bitcoin price will sky rocket to a massive $318,000 sometime in December 2021.

According to Citibank managing director look at the history and the long term trend of bitcoin and not just the data provided now in the past 2017 bitcoin price only raised that much due to exaggeration pure speculation hype but now it is not the case.

The price is only raising steadily and doesn't not jump 100x overnight. And also if u look at the past data in the past three major bull runs the bull run periods are increasing steadily. on the first bull run that is 2011 it was 10 months, in the next bull run in 2013 its been 2 yrs and in the last bull run in 2017 it was three yrs. and after the last bull run the period of correction remained stable at 12 months

Looking into this data provided by him we are just in the middle of a massive bull run which started in 2019 and may continue for at least four until 2022.

From these data generated and analyzing the current situation onw could easily argue that the current bull run would only lead to a new heights not touched before that gives the analyst price price prediction of over $300k.

Not only this big companies like micro strategy, square are investing in bitcoin. Not only they are investing in it they are changing their portfolio reserves into bitcoin.

Along with this the damaged caused by the pandemic to the traditional financial system forced the regular and institutional investors to diversify their portfolio. One more thing is the changing policy on crypto currency in the Unites States and failing dollar price is also a major factor in rising bitcoin value.

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