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Bitcoin Price Hits $20K in History

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zaara hary
Bitcoin Price Hits $20K in History

This year 2020 , been a noteable year for cryptocurency and recent news says that Bitcoin has hit $20,000 for the first time in the history. The demand of cryptocurrencies has rised in this year which resulted in many new crypto related firms.

Bitcoin topped $23,000 per token on Thursday, having only surpassed the $20,000 milestone for the first time on Wednesday. This is mainly due to numerous global renowned investors, institutions putting their weight behind Bitcoin, say experts. In INR terms, players in India believe the bitcoin price may go upto ₹1 crore in the short term. "In short term, for the year 202 the price range could be between ₹50 lakh- ₹1 crore owing to, the Bitcoin halving and growing global institutional demand," says Sumit Gupta, CEO and co-founder of CoinDCX.

The largest cryptocurrency has surged 205% in year to date. On fundamental level, Bitcoin’s growth is largely attributed to how it is designed. "In May 2020, we witnessed third halving, a supply shock event, where the number of daily mined Bitcoin gets cut in half. In the previous two halvings, Bitcoin and overall crypto market cap has risen exponentially, and we are witnessing a start of similar bull trend," says Gupta.

Thus Bitcoin finds applications in many industries,sectors,day to day rountine and lot more.

The demand for Bitcoin and other cryptocurrencies will never fadeout from this digital globe. Thus investing in Bitcoin will never be worse thing as you think.If you have deep knowledge in crypto industry, you can launch your own cryptocurrency exchange platform with cryptocurrency exchange script easily. This might be the best business choice to make huge return on invetsment with less capital investments.

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