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Google finance recently added "selected Crypto” section including Bitcoin, Ethereum, Litecoin and Bitcoin Cash to its finance platform while nurturing how to build its own debit card.
This development in the crypto market has given it more credibility as companies like Mastercard, Paypal, Uber, Tesla and America’s oldest bank, BNY Mellon are showing support for the electronic legal tenders.
Investments from Elon Musk, Paul Tudor Jones, Mass Mutual, and Sky Bridge Capital are further indisputable evidence of big money investors in the crypto market.
Recently, Bloomberg Intelligence made an analysis on why bitcoin would hit a valuation of $100,000 five years’ time.
“Bitcoin’s foundation is firming for further price advances if its history is a guide. Since initially reaching $10,000 in 2017, the benchmark crypto corrected about 70% and remains in an extended period of consolidation around that level," the report said.
“It would be recalled that in 2013, Bitcoin was trading barely at a price of about a thousand dollars. It corrected about 80% and consolidated in 2017, after initially reaching $1,000, it added a zero.
“Considering normal maturation, about double the time frame from $1,000 to $10,000 would come in around 2025, for Bitcoin to potentially add another zero.”