Bitcoin's (BTC) short-term advance above the $42,000 mark marks the beginning of a tumultuous crypto-supercycle that could overtake the flagship cryptocurrency and surpass $500,000 Optimists who say it marks the beginning of a complete financial change attracting Wall Street's attention and influence.
Cryptocurrency is experiencing an unexpected resurgence this year, and will grow by more than 150% by 2023. Market watchers are eagerly anticipating the possibility of endorsements from U. S. exchange-traded funds (ETFs) that directly hold the coin.
This optimism, among other things, prompted #Coinbase CEO Brian Armstrong to declare that "bitcoin could be the linchpin for the expansion of Western civilization. " "On the other hand, projections of the coin's future value vary widely, ranging from 50,000 to more than 5,530,000 in the short term, according to a December4Bloomberg report.
Experience shows that the key driver behind bitcoin's surge in 2020 and 2021 was the large influx of liquidity into the system during the pandemic. In the absence of another real liquidity program, predictions of large-scale growth seem far-fetched. "
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