Bitcoin crosses 40 lakh milestone for first time. Should you invest in it?

Bitcoin rallies after receiving support from major fortune companies. After crossing 40 lakh mark eyes are on new targets.

The first-ever digital currency has crossed a milestone of $50k and even had touched the highs of $58k. After the market is stabilizing, signals are pointing towards the sky. The value of Bitcoin has dramatically changed in the past few years. It is attracting new potential customers to the crypto currency market. Researchers believe that Bitcoin is all set to cross the $100k target this year. 

The US-based, one of the oldest crypto currency exchanges Kraken, published a report in Feb 2021 citing that though bit coin's price seems a bit high, it is far away from its original value. Kraken predicts that Bitcoin will soon cross the target of $75k. 

Kraken also added that the best quarter in which Bitcoin performed the best was back in 2013, but in 2021 Bitcoin has outperformed that quarter.

In the Jan-Mar quarter of 2021, Bitcoin rallied over 37% up. Which added solid returns to its customer's portfolio.

In an interview, Jesse Powell (CEO of Kraken) told Bloomberg that he believes the trend shown by Bitcoin is way better than expected, and BTC can reach the $1million mark just in the next decade. Bitcoin also topped the market cap with a peak of $1.08trillion. That clearly shows the popularity of crypto currency in today's world.

Other crypto currencies, along with Bitcoin, are also performing better than expected. New crypto traders mainly target altcoins like Ethereum, Binance, Stellar, Doge coin, Bitcoin gold, Bitcoin cash. The Crypto market is in a strong bull run these days, and it is expected to continue. We all have witnessed the digital currency's power, and its vision of becoming digital gold is not too far from here.