Crypto Surge: Bitcoin Rockets to $52,000—Is Now the Time to Invest?

The price of Bitcoin has soared, breaking through $52,000.

As of 7:23 PM on the 15th, according to CoinMarketCap, the price of Bitcoin is $52,284.26, up 1.94% from 24 hours ago.

It’s also strong in South Korea. Currently, Bitcoin is trading at $53,483.99 on the virtual asset exchange UPbit and has surpassed $53,000 at $53,450.67 on Bithumb.

Bitcoin has surged 35% in just three weeks, from $39,776 on the 22nd of last month to $53,624.12 recently.

This is attributed to the influx of global funds into the Bitcoin ETF following the approval of the Bitcoin spot exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) on the 10th of last month (local time).

The price of Bitcoin continued to move sideways for a while after the listing approval but started to rise last month.

Experts have predicted that Bitcoin could rise to $100,000.

U.S. investment bank Bernstein said in a report, “Bitcoin’s best days are coming,” and “The market is preparing for a ‘FOMO (Fear Of Missing Out) Rally’ led by ETFs.”

Jeff Kendrick, head of digital asset research at British bank Standard Chartered (SC), said, “The winter of virtual assets is over,” and “Bitcoin can reach the $100,000 level by the end of this year.”

However, there were still voices of skepticism about Bitcoin technology.

Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC), said in an interview with CNBC on the 14th (local time), “Bitcoin is less decentralized than people think” and “Bitcoin accounts for a significant portion of ransomware attacks. It’s a field rife with fraud and manipulation.”