Investing.com investing.com 05 Jan, 2021 21:45 am

Bitcoin Flirts With Record High as Dip Buying Continues By Investing.com

Bitcoin Flirts With Record High as Dip Buying Continues By Investing.com
Bitcoin Flirts With Record High as Dip Buying Continues

Bitcoin has its work cut out if it is to challenge gold in the private sector as its market cap would have to climb by 4.The wild swings in the price of bitcoin prices, meanwhile, would likely have to steady for cryptocurrency to attract the institutional investment dollars that will support a sustained surge in market cap, and with it a rise above $100,000, JPMorgan added.“This long term upside based on an equalization of the market cap of bitcoin to that of gold for investment purposes is conditional on the volatility of bitcoin converging to that of gold over the long term.Ethereum, the second largest crypto by market valuation, is about 30% below its all-time high market cap seen in the previous rally in 2018.

com - Bitcoin surged to remain close to record highs Tuesday as investors continued to 'buy the dip' following early-day weakness, suggesting the popular crypto has more room to grow.Bitcoin rose 6% to $33,545, just below its all-time high of $34,253 as investors bought the weakness seen earlier in the day and on Monday when the popular crypto fell below $30,000.

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