On Monday, Bitcoin began surging toward its all-time high. The king of cryptocurrencies rose by over 4% to $66,170, approaching its ATH of $67,016, which it reached on October 20.

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Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

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What is Bitcoin

Bitcoin is the top cryptocurrency by market cap and the first one that ever existed. It is the subject of the ongoing trial of the century. It’s gaining mainstream acceptance, propelled by the SEC’s endorsement of the first Bitcoin ETF in the US. It is also highly coveted as a store of value in these highly uncertain times.

Should I buy BTC today?

Bitcoin is an excellent long-term investment, but exercise caution if shorting.

BTC price prediction

The price of Bitcoin is expected to keep increasing. According to JPMorgan, it will reach $146,000 over the long term if its volatility subsides and institutional investors begin prioritizing Bitcoin over gold. The price is expected to reach $73,000 in 2022.  

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This post was originally published on Coinjournal.