“Bitcoin will exceed $110,000 by August”

Amidst the sharp fluctuations in the price of bitcoin, it is predicted that it will exceed $110,000 by August.

Panthera Capital, a cryptocurrency investment company, predicted that the bitcoin price could reach $115,000 by August 1st, according to the report, according to US media reports on the 24th (current time). Earlier, JPMorgan published a report that the price of bitcoin could surpass $146,000 by the end of this year in a’theoretical’. Bitcoin is trading on US exchanges for $32,000 on the 24th.

Bitcoin price, which once exceeded $40,000, has plummeted to less than $30,000 and is rising again as U.S. Treasury-nominee Janet Yellen made a negative assessment of cryptocurrency.

Another reason that triggered a plunge in the price of bitcoin was reported to have been misinformed.

Duplicate payment means that Bitcoin can be paid twice at the same time, and rumors of a technical error once spread. The US economic journal Fortune reported on the 23rd, “There is no evidence that the rumors that spread to the market are actually possible.” He added that the case of duplicate payment that disturbed the market was due to a simple mistake, and not an actual technical problem.

On the 22nd, a bitcoin user claimed that he had booked the first transaction to monetize the bitcoin he mined, but had traded with a second trader who could receive a higher price. The user quickly informed the media and banks of this, and as a result, the price of Bitcoin plummeted by 15% in four hours. However, as a result of the investigation, blockchain technology displays all real-time transaction details, but since it has a system that records new transaction details every 10 minutes, only the second transaction after 10 minutes was displayed in the transaction history.

Fortune reported that bitcoin experts knew that the case was fake, and that they took the lead in fanning the rumors. When the price fell, he did not correct it even though he knew it was fake news to start buying at a low price.

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