Bitcoin’s value has hit a new peak of over $50,000 – Will it continue rising?

Bitcoin’s value has hit a new peak of over $50,000, with Coindesk listing a new all-time high value of $50,584.85. This milestone was driven by many factors, including Tesla’s $1.5 billion investment into the currency, to Mastercard’s newly announced plans to support specific cryptocurrencies on its network. 

Bitcoin, the crypto-king is becoming increasingly mainstream, and that is driving its value to new highest. At the time of writing, Bitcoin’s value has dropped to around $49,000, though the currency remains close to its latest all-time high. Investors remain optimistic about Bitcoin’s growth, with many eying a future boost to $65K should pricing stabilise at a value of over $50K. 

With Paypal and Mastercard announcing plans to support cryptocurrencies, more mainstream adoption of cryptocurrencies seem inevitable. However, it also seems likely that global financial authorities will start to regulate cryptocurrencies if demand continues to grow. That said, regulations may help legitimise cryptocurrencies further, potentially acting as another positive force favouring Bitcoin. 

Will $50,000 remain as Bitcoin’s peak for long? Will Bitcoin’s value continue to increase? Will Bitcoin’s value crash like it did in 2017? Nobody knows the answer to this question, though it is undeniable that Bitcoin has more positive factors supporting it than ever before, fueling positive outlooks for many investors. 

While many are optimistic about the future of Bitcoin, many fear that a financial bubble is forming around Bitcoin, pointing towards prior crashes in the currency’s value. At this time it is unknown how things will go for Bitcoin moving forward. Nobody can predict the future, and as always, the future value of Bitcoin remains unknowable.