The top cryptocurrency on the market, Bitcoin hit another all-time high above $ 68,000 for the first time in a matter of hours. Bitcoin is widely perceived by many investors as a store of value asset like gold, making cryptocurrencies a safe haven as concerns about inflation mount.
The milestone comes on a historic date for Bitcoin. Well, analysts point out that Bitcoin’s market capitalization surpassed one million dollars for the first time on November 8, 2010.
In fact, analyst PlanB has speculated that this bull cycle could see Bitcoin reaching a price of $ 288,000 next year. With the analyst stating that markets will need to see “some real fireworks in 2022” for the projection to come true.
Currently the price of Bitcoin is USD 66,836, registering an increasing variation of 1.24% in the last 24 hours. As described by our internal crypto online tool.
Kraken Predicts Bitcoin Hitting $ 96,000
In a recent report From Kraken, titled its “October 2021 Market Recap and Outlook,” the major US exchange said that Bitcoin should hit around $ 96,000. If this quarter copies the last uptrend.
The report also noted that, historically, November tends to be the most volatile, as well as offering the highest monthly returns. The comments in this report come amid multiple price predictions for the major cryptocurrency. Especially because of the recent news we described above that Bitcoin hit another all-time high.
Record Whale Buildup Motivated Latest Bitcoin Bull Run
Investors in Bitcoin are still on the lookout for further BTC price rises. Since the part of the BTC supply that has lain dormant for the last three months has reached an all-time high of 85%.
The provider of analysis on-chain Glassnode identified the milestone in its November 8th “The Week Onchain” report, concluding: “Investors are simply not spending their coins.”
The addresses that have not moved their BTC in 12 months, called “long-term holders” (LTH), are among the most actively accumulating coins. These addresses move only 6,500 BTC daily.
Apple CEO Tim Cook revealed that he owns cryptocurrencies
Apple CEO Tim Cook has disclosed that he owns cryptocurrencies, but said the investment was from a “personal point of view” and does not indicate that Apple has crypto ambitions.
The comments came during the conference New York Times DealBook on Monday morning, in a taped interview with Andrew Ross Sorkin.
When asked if he personally owns Bitcoin or Ether, Cook replied, “I do. I think it is reasonable to have it as part of a diversified portfolio.
However, he continued: “I would not invest in cryptocurrencies, not because I would not invest my own money, but because I do not believe that people buy Apple shares to expose themselves to cryptocurrencies.” Cook went on to say that Apple has no immediate plans to accept crypto payments.