The Bitcoin price settled at around $60,000 on Monday 15th of March 2021, after reaching a record high as investors prepared for inflation worries and U.S. stimulus spending to propel it even higher.
The world’s most valuable cryptocurrency slipped as low as $58,956.90 early monday morning, falling from Saturday’s record high of $61,781.83.
The rally may have been temporarily halted after a report that India would pursue a ban on digital assets. This makes it a bit uncertain even after high-profile endorsements this year from the likes of Tesla’s Elon Musk, Twitter’s Jack Dorsey, and investment giants Goldman Sachs and BlackRock.
Bitcoin has more than doubled in 2021, after quadrupling last year.
Global speculation is double sided at the moment, with some calling it a ‘bubble that will burst eventally’ while others are hailing it as the future of financial transactions. Still, it remains to be seen if the cryptocurrency will eventually reach the projected $160,000 price which has been forcasted by investors.
