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Bitcoin Crosses Warren Buffett’s Berkshire Hathaway’s Market Cap

As Bitcoin recently crossed 31k mark, the crypto asset has posted its maximum transaction volume since initial 2018. Moreover, the data suggests more and more investors entering the market.

Several indicators including the size of unprocessed transactions in BTC’s mempool and network transaction fees hints at increased overall activity.

In the meantime, Google Trends are showing the highest levels of search interest among Google searchers in the term “Bitcoin” worldwide since February 2018.

At 584.9 Billion USD, the biggest digital asset by market cap recently surpassed the market capitalization of Berkshire Hathaway. Notably, Warren Buffett, the CEO of Berkshire Hathaway famously equated Bitcoin to “rat poison squared.”

Bitcoin At All Time High, Crossed 30 Thousand USD Mark

In spite of its more than 300 percent year-to-date returns, BTC’s performance still lies behind that of ETH. Remarkably, ETH has displayed solid gains of approximately 500 percent in the last 1 year. The asset’s performance is even stronger when compared to March’s lows.

Recently, Bobby Ong, the founder of Coingecko gave his predictions for the digital asset bourses in 2021. As per him, among the most important cryptocurrencies, Ethereum would see a return to higher transaction fees. However, the crypto asset’s price might pass its prevailing all-time high from 2018, says Ong.

He mentioned, “ETH will break past its $1,500 ATH mainly driven by DeFi. Gas fees will skyrocket again and highlight scalability issues. Most of the year will be spent coordinating on a Layer 2 scalability solution. My bet will be on ZK Rollup gaining traction towards the end of the year.”

For BTC, Ong predicts a price trajectory towards 100k USD, in conjunction with the introduction of a much-awaited ETF and the 1st central bank adding BTC to its balance sheet.

What do you think about the latest predictions of BTC price by Ong? Let us know in the comments below!

Image by chiplanay from Pixabay