It has been almost an entire week since the Bitcoin (BTC) prices have been fluctuating between $44k per BTC and $48k per BTC. Before that, Bitcoin (BTC) had gone all the way up to $59k per BTC before falling down to this figure.
Although the Bitcoin (BTC) investment community has grown a bit uncertain about the situation, yet people are not willing to stop supporting Bitcoin (BTC). The Bitcoin (BTC) investment community is still keeping faith in the bullish run of Bitcoin (BTC).
The majority of the Bitcoin (BTC) investors’ community is bullish about the future of Bitcoin (BTC). It has been established that the majority of Bitcoin (BTC) investors are willing to hold onto the digital-asset as a long-term investment.
Following the bullish sentiment around Bitcoin (BTC), the cryptocurrency giants have also started talking about its potential. Just recently, it was the CEO of Kraken, Jesse Powell who talked about the potential of Bitcoin (BTC).
Jesse Powell is one of the top proponents of Bitcoin (BTC) as it was the first-ever digital asset that Kraken had listed on its platform. It was in an interview on Thursday, March 4, 2021, when Powell made a prediction about the price of Bitcoin (BTC).
Powell stated that given the current adoption rate of Bitcoin (BTC), it is extremely easy for the digital to hit the $1 million per BTC benchmark. He stated that over the course of time, Bitcoin (BTC) has managed to surpass the United States dollar in terms of competition.
There was a time when the dollar could be considered competition for Bitcoin (BTC) but now the situation has changed. Countries and economies from all around the world are now getting used to Bitcoin (BTC) than they are to USD.
This has left USD out of the competition and as compared to the USD, the price of Bitcoin (BTC) is reaching the levels of infinity.
Back in 2009 when BTC launched, its prices were extremely below even a single dollar. But in a matter of a decade, Bitcoin (BTC) managed to gain a lot of surges with respect to its price. Since then, Bitcoin (BTC) gained a significant amount of growth with respect to its price versus the USD.
However, Bitcoin (BTC) showed its true colors for the first time back in 2017 when it hit the $19k per BTC benchmark. Towards the end of the year 2020, BTC has even gained mainstream adoption and has even managed to cross the $59k per BTC barrier.
At present, there are many investors and analysts predicting that Bitcoin (BTC) will easily cross the $100k per BTC barrier by the end of 2021. There are others who have even gone on to predict that Bitcoin (BTC) may also be able to hit the $350k per BTC benchmark by the end of the year.
As per Powell, no matter what price BTC experiences, it is bound to hit the million-dollar per BTC price in the next ten years.