Bitcoin New Year’s rally exceeds $34,000, going 50,000 within the first quarter

Bitcoin is rallying, surpassing 34,000 dollars in the new year.

As of 11:30 p.m. on January 3rd (Korean time), Bitcoin is recording $33,804, up 8.2% from 24 hours ago in the US coin market. Bitcoin also exceeded $34,000 during the intraday, Bloomberg reported.

The reason Bitcoin is rallying recently is because it has abundant liquidity due to the world’s ultra-low interest rate due to Corona 19, and because institutional investors are entering the market one after another, ants also follow and buy.

Accordingly, experts believe that the Bitcoin rally will continue for the time being.

“Bitcoin will surpass $50,000 in the first quarter,” said Anthony Trencef, managing partner and co-founder of Nexo in London, the world’s largest cryptocurrency (virtual currency) lender, in an interview with Bloomberg.

“Bitcoin will eventually exceed $400,000,” said Scott Minard, chief investment officer at Guggenheim Investments.

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