The price of bitcoin it completely reversed the downward trend it had during the week. Last weekend, the bitcoin It had reached $ 42,500 and had a low during the week reaching its low peak of $ 37,674 on August 4. But in the last hours he redoubled the bet, encouraging investors’ expectations and it is expected that by the end of the year it will reach US $ 100,000.
“The state of optimism appears to have returned to the cryptocurrency markets. Bitcoin leads the charge as Ethereum continues to make gains,” said Paolo Ardoino, chief technology officer at Bitfinex, in dialogue with Bloomberg.
Still, he said, “the turmoil we’ve seen in crypto markets in recent weeks is unlikely to subside.”
The cryptocurrencies are regaining ground after retreating significantly from all-time highs in recent months, a setback attributed to concerns about China’s crackdown on Bitcoin miners and questions that businessman Elon Musk raised about using energy to validate transactions with cryptocurrencies.
At the moment these factors are not holding back the advance of cryptocurrencies, whose market value has recovered to around $ 1.88 trillion from a mid-June low of nearly $ 1.2 trillion, according to CoinGecko.com.