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$100k Is Magnet for Bitcoin, Grayscale Owner Barry Silbert Says

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Sun, 15/08/2021 - 7:45
$100k Is Magnet for Bitcoin, Grayscale Owner Barry Silbert Says
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Founder of the Digital Currency Group, the parent company of Grayscale, Barry Silbert, has taken to Twitter to share his take on the direction Bitcoin is likely to move in.

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Silbert has called the $100,000 price line a “magnet” for the flagship cryptocurrency. He has tagged a similar tweet from June 22 two years ago, when he said the same about the $20,000 level for Bitcoin.

Back on that day, the leading crypto was trading at $4,023 and was ten months before recapturing the $20,000 all-time high first reached in December 2017.

This year, on April 14, Bitcoin soared to a new historic peak of $64,863. By now, after a massive correction, partly caused by Elon Musk’s critical tweets about Bitcoin as an environment-unfriendly currency and Chinese crackdown on BTC miners, the price went down to the $30,000 level and reversed.

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By now, it has recovered and attempted to storm the $48,000 level on Satuday. At the time of writing, Bitcoin is sitting at $46,307, according to the data provided by CoinMarketCap.

Last year, Barry Silbert claimed that the majority of cryptocurrencies will fail, but Bitcoin remains the king.

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