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Bitcoin continue the bull run, move above $40,000 for the first time.




 

Bitcoin surged past the $40,000 on Thursday up to $41,000 on Friday for the first time in history, bitcoin has doubled in value in less than a month and doesn't show signs of stopping yet.

In an interview with CNBC, Social Capital Chamath Palihapitiya said Bitcoin is probably going to $100,000, then $150,000 then $200,000. But claim he doesn't know when these will happen, [Maybe] five or ten years, but it's going there he said.

Experts believe the bull run is due in large part to increasing institutional investment in digital currency from established firms such as PayPal and Ruffer Investment Management, which purchased around $745 million in Bitcoin in November.

They also see it as a hedge against inflation and enormous monetary stimulus aimed at battling the economic devastation caused by Covid-19.

However, while further growth is inevitable, investors should not expect it to move in a straight line Gavin Smith, the chief executive officer of Pandora Group said.

The reality is that Bitcoin is far from being a magic money tree, nor is it free from downward price swings. In fact, we can expect dips as sharp as 25%at times as investors periodically withdraw profits, he said.



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