The price of Bitcoin continues to soar. Even recently, the value of 1 Bitcoin had penetrated USD 66 thousand before currently being at USD 64 thousand.
The price of Bitcoin this month has gone up about 44%. At the end of September, the price was still USD 44 thousand, even lower in previous times. What triggered this increase?
Apparently there is some relief and hope that regulators in the United States will not raid cryptocurrencies. Then there was support from big investors like George Soros and the launch of the first Bitcoin-based futures exchange (ETF) in the US.
The ProShares Bitcoin Strategy ETF, which started trading last Tuesday, was up 3% on Wednesday morning. Given these various factors, some experts predict that the price of Bitcoin can continue to rise.
"Because of this momentum, we believe that Bitcoin could easily break the $100k mark by the end of this year," said Naem Aslam, analyst at AvaTrade.
Criticism for Bitcoin, including from financial world leaders, has so far not been able to hold back its pace. One of the sharpest criticisms recently came from Jamie Dimon, Chairman of one of the largest US banks, JP Morgan Chase. He voiced his distaste for Bitcoin.
He stated that Bitcoin has no value at all even though in the market it costs hundreds of millions of rupiah. "I personally think that Bitcoin has no value," Dimon said as quoted by CNBC.
But he doesn't want to be the kind of spokesperson to point out Bitcoin's weakness. "I don't want to be a spokesperson, I don't care," he added. But so far, the price of Bitcoin has not been affected by such criticism.
