After nearly three months of weak performance, Bitcoin has once again surpassed the $50,000 mark since mid-May. In the past three months, Bitcoin has been hovering between $30,000 and $40,000.
As of press time, Bitcoin has risen to a maximum of 50243.90 US dollars, and is currently quoted at 49961.58 US dollars, an intraday increase of 2.95%. At the same time, Ethereum also rose to 3,327.67 US dollars, an intraday increase of approximately 4.6%. According to CoinGecko data, the current market capitalization of Bitcoin accounts for 42.4%, and the market capitalization of Ethereum accounts for 17.6%. The total market value of cryptocurrencies has reached $2.2 trillion.
SuZhu, the co-founder and CEO of Three Arrows Capital, recently announced his forecast of Bitcoin's price of $88,888 on Twitter, and said that Bitcoin will reach this target price in less than two months. Earlier, Kyle Davies, another co-founder of Three Arrows Capital, stated on Twitter that Bitcoin seemed to want to use a "super cycle" to hit historical highs.
It is worth noting that the well-known payment institution PayPal plans to expand its encryption backwall service to the UK starting this week, allowing customers to buy, sell and hold four different cryptocurrencies on its platform. This is the first time PayPal has expanded its cryptocurrency services outside the United States. PayPal stated that users will be able to conduct bitcoin, ether, litecoin and bitcoin cash transactions at a minimum price of 1 pound. Customers must have verified their identity before they are eligible to trade.
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