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Bitcoin Hits $106K for the First Time as Total Crypto Market Cap Approaches $4 Trillion
The price of Bitcoin has surged to new heights, reaching $106,000 for the first time in history. This development comes amidst a broader market trend where the overall cryptocurrency market cap is rapidly approaching the $4 trillion mark.
As seen in the charts, Bitcoin’s recent rally seems to be part of an ongoing trend that began last year. While some experts had predicted that the price would eventually collapse after reaching this milestone, Peter Schiff, a financial commentator known for his skepticism towards Bitcoin, has taken a different stance.
“I think it is unlikely that we’ll see a significant decline in the near term,” he said during an interview on CNBC. “But I do think there’s still going to be a correction at some point. You can’t have this kind of growth without any corrections.”
In related news, MicroStrategy co-founder Michael Saylor was identified as the main buyer behind the recent surge in Bitcoin prices.
Source: u.today
