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Will Bitcoin See a Boost to $60k After El Salvador Adopts Bitcoin Investments as Legal Tender?

By Luke F - Cryptocurrency Dealer - 05-09-2021


In recent crypto news, Bitcoin (BTC) fans are torn with excitement between the increasing price to buy Bitcoin, and El Salvador’s progressive decision to make the crypto giant a legal tender. Over the last few months, media coverage on the coin has been up and down since the crypto crackdown, but things are looking up again as more companies and countries are beginning to adopt the currency.

Lately, Bitcoin's price has been moving between the $49K mark and just over $50k, with its current value sitting at $50,233 at the time of writing. The crypto community has been on edge and wondering where the price will go next. On the social media platform Twitter, one crypto analyst took to the platform to demonstrate the state of the crypto market, using a meme of Forest Gump and his followers.

In the last seven days, the price for buying Bitcoin has risen by 3.67%, reaching a three-month high on September 3 and hitting $50,680. With that in mind, many analysts have come forward to speculate that in two days, Bitcoin's value could easily hit $60k, if not more. The reason for a steep price increase within the next couple of days is because, on September 7, El Salvador will become the first country to make BTC a legal tender. With many predictions for a price spike coming through, the future looks bullish for the crypto giant.

If you are looking to Buy and Sell Bitcoin, but you’re not sure where is the best place to invest in Bitcoin, then you can head over to BC Bitcoin where you can safely start investing today.

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