A new research team has predicted that Bitcoin can double in value in under a year and ETH will touch the $35k mark too. But for this to happen Bitcoin must reach a value of $175,000 in the longer term.
With Bitcoin still leading the cryptocurrency market, it has become a viable option for a long time investment. And with Ethereum closing in, it is rumored that ETH will also be a great investment for people. This is great news for people who have been hoping for a DeFi system that makes financial matters much more transparent.
With this research and El Salvador accepting Bitcoin as legal tender things have been looking up for the cryptocurrency. Bitcoin is predicted to hit the $100k mark either late this year or in early 2022. This would make the world’s most valuable cryptocurrency. Tuesday’s crash can be said to be a false dip that does not hurt the long-term prospect of the blockchain.
Experts say the value dipped due to the problematic rollout of BTC in El Salvador. Since then the country and bitcoin have almost recovered the full amount and things are looking good for the currency once again.
When Bitcoin will hit $100,000 in value, the price of Ethereum will also reach $10,000. This means at this point in time it is sound to invest in both, but one must be invested in at least one, to say the least. This way you can minimize losses if one of the currencies just tanks.
