Over the last 24 hours, the Bitcoin price has added nearly 9 percent. On Saturday morning it closely came to the $7,000 level, trading at slightly over $6,800.
Bitcoin price aims at $7,000
Currently, BTC has rolled back a little, sitting at $6,791. The overall capitalization of the crypto market has got over the $200 bln mark – this was the value the market saw in November last year.
At press time, the BTC market cap totals $120 272 294 110 which is nearly 60 percent of the total cryptocurrency market cap.
The top ten currencies are also growing but quite moderately compared to Bitcoin. The top gainers here today are Stellar (+3.88 percent), Cardano (+3.69 percent) and Litecoin (+3.69 percent). They are closely followed by Ethereum (+2.83 percent), trading now at $178.82.
Bitcoin price forecasts
Overnight, Bitcoin managed to jump from its high of $6,400 to $6,800 – this looks like the new bull run predicted and anticipated by many prominent crypto investors and traders.
On May 10, U.Today reported that Mark Yusko, the founder of Morgan Creek Capital hedge fund, made a bold prediction that eventually Bitcoin will reach $400,000 as it will become a replacement for gold. This will happen, he says, in ten years or even later.
Also, the famous investor and venture capitalist Tim Draper told Fox Business in an interview that in about four years or so Bitcoin will take up 5 percent of the total market share of the Earth.
The price that Bitcoin is going to hit per Draper is slightly more modest - $250,000.