The Crypto market rebounded strongly amid significant buying pressure from a number of high net worth entities, leading the market gain to over $86 billion in market value.
The reduced selling pressure earlier witnessed, brought a measure of relief, as Bitcoin surged by 4.8% on the day to about $55,000, allowing the world’s most popular crypto to reclaim its losses from the past few days. At the time of writing this report, the crypto market was valued at $1.74 trillion posting a gain of 4.94% for the day.
In addition, buying pressure in Ethereum helped the crypto market upside momentarily as it traded around $1,665.8, posting a gain of about 4% for the day.
In a tweet recently posted by Mike McGlone, senior commodity strategist at Bloomberg Intelligence, he revealed the year 2021 could be the turning point for the world’s most popular crypto asset in gaining higher momentum thus possibly hit the $400,000 mark in about three years time.
The Crypto market rebounded strongly amid significant buying pressure from a number of high net worth entities, leading the market gain to over $86 billion in market value.
The reduced selling pressure earlier witnessed, brought a measure of relief, as Bitcoin surged by 4.8% on the day to about $55,000, allowing the world’s most popular crypto to reclaim its losses from the past few days. At the time of writing this report, the crypto market was valued at $1.74 trillion posting a gain of 4.94% for the day.
In addition, buying pressure in Ethereum helped the crypto market upside momentarily as it traded around $1,665.8, posting a gain of about 4% for the day.
In a tweet recently posted by Mike McGlone, senior commodity strategist at Bloomberg Intelligence, he revealed the year 2021 could be the turning point for the world’s most popular crypto asset in gaining higher momentum thus possibly hit the $400,000 mark in about three years time.
Peter Schiff, a strong critic of Bitcoin and highly respected gold hedge fund manager, warned investors of the risk associated with the fast-rising crypto despite news revealing top investment bank, Morgan Stanley allowed some of its wealthy customers access to Bitcoin funds exposure.
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