Surprisingly, the year of 2020 has not been tough on everything. It has had no adverse effect on cryptocurrencies, namely bitcoin. The cryptocurrency market is experiencing a massive rally largely driven by a row of external factors that urge investors to take a closer look at the world of virtual money.
The world's first digital currency set several records in a short time. Notably, it is not going to stop with what has already been achieved. For the first time in history, the price soared past $15.5 thousand per token. Nowadays, the digital coin is approaching the level of $16 thousand. In total, in terms of US dollars, BTC advanced by 115%. These days, investors’ interest in virtual assets is fueled by the coronavirus pandemic, a growing number of infection cases, and uncertainty about the future of the global economy. Currently, bitcoin, along with gold, is recognized as a reliable safe-haven asset. In addition, this year, a rise in the value of bitcoin was triggered by the injection of money initiated by the leading central banks.
Experts suggest that BTC has great chances to break another record. Most likely, the most popular digital currency will advance to $16 thousand per coin by the end of 2020 and skyrocket to $30-45 thousand during 2021.
