While Bitcoin prices broke records on the second trading day of the week; Ethereum prices also accompany Bitcoin. Analysts, while evaluating the latest situation, stated that the developments in the global economies supported the predictions of $ 80,000 for the end of the year in Bitcoin; “Bitcoin is not expensive despite the rise,” they say.
Bitcoin prices (BTC), which has been on an upward trend for two days, were trading very close to the historical all time high level yesterday; today it broke the all-time record level and continues to break record after record. The second cryptocurrency with the highest transaction volume, Ethereum, also accompanied the rise in Bitcoin and broke its new historical peak.
The main reason for this rise in the most popular cryptocurrencies can be cited as the increasing global inflationary pressures and the investment flow towards cryptocurrencies with the search for a safe haven by investors. According to analysts, the latest developments in the crypto money markets support the year-end forecasts of $80,000 in Bitcoin.
While Bitcoin prices carried the historical record level to $ 68,530; It saw a daily low of $66,027. The cryptocurrency with the highest trading volume is trading at $67,877, up 2.68%. Ethereum prices also increased the all-time record to $ 4,839; It fluctuated between the levels of 4755 – 4839 dollars during the day. Ethereum (ETH) is currently trading at $4,801, up 0.93%.
Reserve Risk, another chain data showing the confidence of long-term BTC holders, also shows that the price is not expensive and long-term traders do not go to profit-taking. When all this is taken into account, Bitcoin coincides with the expectation of $ 80,000 by the end of the year. However, we see that the leveraged market is also active, in addition to the emergence of ETFs (Exchange Investment Funds) and their share of spot Bitcoin volume.
The occasional major corrections in Bitcoin are usually due to the liquidation of leveraged trading positions. Although the volume of the leverage market is not yet a bubble indicator, as the price rises, the investor needs to take more ownership of his profits and positions.
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