The world’s largest cryptocurrency bitcoin has given a return of about 70 percent in 110 days. According to estimates, in the next one year, at the current price, it can give a return of 70 to 130 percent. Which is 10 times more than the expected return on gold and silver in the next one year. At present, bitcoin is trading at more than 27 thousand dollars. A few days ago, the price of bitcoin had crossed 30 thousand dollars. In such a situation, it is estimated that the era of bitcoin is likely to start again. Let us tell you that gold market is trading at 60 thousand rupees per ten grams and silver at 75 thousand per ten grams.

That’s why there can be a boom

According to Bloomberg’s report, due to the continuous increase in the interest rate of the Federal Reserve amidst continuous inflation, there was a continuous decline in bitcoin. At the same time, it was expected that this boom would stop soon, but it could not happen and the price of bitcoin could not increase. But some hopes have started rising for the crypto market. Inflation figures have started to weaken a bit. It is expected that in the coming days, Fed can pause the increase in interest rates. Because of which a rise in the price of bitcoin can be seen.

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Price can reach 50 to 65 thousand dollars

In the next one year, the price of bitcoin can reach 50 thousand dollars. Which will be more than the current level of 80 percent. Marcus Thielen, head of research at Matrixport, said in a note that bitcoin will more than double its current price by April 2024, at around $65,623. If it is seen in percentage, then in the next one year, there can be a rise of more than 130 percent in the price of bitcoin. This means that the next one year is going to be of cryptocurrency.

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Bitcoin can make a new record

Bitcoin is down about $41,000 from its lifetime high of about $69,000 in November 2021. The cryptocurrency market had crashed badly last year, as the central banks were constantly seeing an increase in interest rates. CCData’s Joseph said that bitcoin could once again reach a new lifetime high in the future. After a decline of more than 9 percent last week, today there is a slight increase in the price of bitcoin and the price is trading at $ 27,700.