Bitcoin, the world’s largest cryptocurrency by market capitalization, has been making headlines recently as it broke through the $27,000 barrier for the first time. This surge in price has reignited speculation about where Bitcoin is headed next, with many analysts and investors offering their predictions.
Similarly, Ethereum also drew strong buying interest, with its value increasing by 24.75% to reach the $1,794 mark. However, the reason for this upward rally can be attributed to the impact of inflation in the United States, rather than hyperinflation.
This indicates that the value of the US dollar is decreasing, which is expected to encourage investors to seek out alternative forms of currency to safeguard their assets.
As a result, Bitcoin, which is decentralized and not connected to any government, could be viewed as a more stable investment option, thereby increasing demand and driving the price up even further.
In addition, the bullish prediction by former Coinbase chief technology officer Balaji Srinivasan,…