Bitcoin has started the day posting gains. At press time, the largest cryptocurrency by market cap is trading at $51,417.25 (+3.88%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $3,456.62 (+1.91%), while Binance Coin has dropped by 0.17% and is now trading at $433,39.
CoinShares chief development officer Meltem Demirors has recently said that by the end of 2021 the price of Bitcoin will hit $100,000.
According to her, there is a lot of unused cash left, so investors plan to include Bitcoin in their portfolios:
"There’s just an absolute plethora of options that are opening up that channel for retail and professional investors."
Demirors has also highlighted the model of rumor-based buying and fact-based selling is one of the catalysts for price changes in the largest cryptocurrency by market cap:
"Right now, we’re hearing rumblings around a potential Bitcoin ETF approval. That would be cashed-settled contract based ETFs."
According to her, by the end of the fourth quarter of 2021 and the beginning of the first quarter of 2022, "definite moves" into six-digit long-term options will begin.
According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,203,671,144,184.
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