Nothing compares to a good correlation between cryptocurrencies to produce what many people predict, but what everyone agrees on. And the point is that the first cryptocurrency in the crypto market is at a level it has not reached since June 2022 and now the stakes are moving much higher in terms of value opportunity.
Bitcoin is, without a doubt, the best asset in terms of market profitability and it seems that it will continue to be so. Investors are sovereign and decide that now it’s their turn: lock in $30,000 for assets that haven’t seen value since last June and that accompanied or drove it for a variety of reasons.
The first is the arrival of the Shanghai Refresh, commonly known in the market as “Chapella”, which we will detail on Wednesday regarding Ethereum, in ETH, contrary to many expectations, it reactivated the market. Second, read well about inflation. Or rather, the safe haven value that many investors see in Bitcoin has recovered to significant levels this year. Confidence is returning and many agree that there is now an emphasis on two factors.
On the one hand, it is about establishing new levels and highs of value, and second, whether this momentum has the necessary and desirable continuity for Bitcoin to attack its all-time high in November 2021 of $69,000 or not. For example, this is pointed out by Tether’s chief technology officer, Paolo Ardoino, who believes that the virtual currency could retest the record reached 17 months ago.
Source: Obregón, N. (2023, April 17). Bitcoin sits above $30,000, will it reach $1 million in 2025? Investment Strategies.