2 Key Reasons Why Bitcoin Bulls Expect Further Upside
Reading Time: 2min read
Bitcoin has seen strong gains over the past seven days. According to CoinGecko, the leading digital asset is up 16% in the past seven days, outperforming Ethereum and a number of other digital assets.
Despite this strong rally in the price of the leading digital asset, analysts are expecting further gains in the weeks ahead.
Here are a few reasons why this sentiment has been shared about Bitcoin.
Bitcoin is seeing strong demand from players like MicroStrategy and other corporate players.
Just this past week, it was revealed by the business services company that it will be raising nearly $1 billion to buy Bitcoin through the sale of corporate bonds. The firm announced on the matter:
Everyone is talking up bitcoin as cryptocurrencies go mainstream
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Las cinco empresas que impulsan la indetenible fiebre del bitcóin
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Bitcoin Hit All-Time High at Over $50,000, Leaving Us in Dire Need of Sound Financial Advice
Photo: Ozan Kose (Getty Images)
Bitcoin is the future, again: this morning, it hit an all-time high value of over $50,000. Is there a lesson in here? Are Elon Musk’s tweets a good investment strategy? Should we get in on this? We have yet to learn. Or maybe we learn nothing, and the notoriously volatile currency will level out, unlike when some lost everything to the 2018 crash.
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Elon Musk first sent Bitcoin and Dogecoin soaring a few weeks ago as a sort of sequel to Reddit’s WallStreetBets frenzy, changing his bio to “Bitcoin” and tweeting “Doge”