In bitcoin latest news, the cryptocurrency has experienced some exceptional gains recently and there are expectations that it will also make significant gains in the later part of 2021. The world’s first and most prominent digital currency rose to $US48,128 in the middle of August which represents its highest price since May. Demonstrating the high volatility of cryptocurrencies in general, bitcoin fluctuated from around $US29,000 to $US48,000 in less than a month.
Analysts say the digital currency has a favorable outlook for more gains in the latter part of this year with new and active bitcoin wallet addresses on the rise suggesting retail investors are active in investing in the cryptocurrency. The attraction of bitcoin as a hedge to inflation and other economic uncertainty continues to be a main driver for this as well as speculators betting the price will broach the $US50,000 barrier by the end of the year.