Bitcoin Price Hits New All-Time High at $2,933, Closing on $3,000

After recording a nearly $300 increase in a 24-hour period, Bitcoin achieved its new all-time high price at $2,933, closing in on the $3,000 region.

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On May 25, Bitcoin price fell from around $2,700 to $1,900 amidst a major market correction. Prior to that, Bitcoin price surged explosively and as a response, analysts and experts predicted the price to correct itself in the short-term.

However, upon the initial decline of Bitcoin price, Bitcoin analysts including WhalePanda and RT’s Max Keiser emphasized that Bitcoin had always recovered beyond the peak of the initial bubble and has proven to rise in value in the mid and long run.

Keiser, in particular, noted that the price trend of Bitcoin will repeat until it hits $100,000 in the future when the market cap of Bitcoin enters the trillion dollar region.