Bitcoin has climbed back above $ 56,000. The leading cryptocurrency had fallen almost 3% yesterday afternoon, but has recovered in the last few hours. As of press time, the price of BTC is $ 56,102, after a brief correction of less than 1%.
As long as BTC remains close to its current level, expectations for a new rally to its all-time high (ATH) are getting higher and higher. In the last hours there have been new statements that reveal the more general sentiment in the market.
Jurrien Timmer, director of global macro at finance company Fidelity Investments, predicted that BTC could surpass $ 100K by 2023. According to the businessman, the supply and demand models of the cryptocurrency could only cross when that level is reached.
“My feeling is that the trajectory has gone up and so far there is really no evidence that it is a group of impulse hunters, “added Timmer. However, he assured that he does not believe that the cryptocurrency is a threat to the US dollar as a reserve currency globally.
On the other hand, Miami Mayor Francis Suárez responded to the statements of the CEO of JP Morgan – who said that BTC was “useless” – and again expressed his optimism regarding the leading cryptocurrency. “BTC only has one way to go, but up, ” said Suarez at Varney & Co.
The rest of the crypto market has also moved up and down in the last few hours. Ether (ETH), the leading altcoin, is down less than 1% and its current price is $ 3,488. Cardano (ADA) fell in the same line and is trading at $ 2.12.
Binance coin (BNB) rose again by 5% and climbed above USD 454. XRP, Solana (SOL) and Dogecoin (DOGE), meanwhile, were up approximately 1% and trade respectively at USD 1.10, USD 146 and USD 0.22.
Litecoin (LTC) and Bitcoin cash (BCH) accompanied the rises with a brief upward movement and their price is $ 174 and $ 585.