Given that Bitcoin price is largely determined by supply and demand fundamentals, a prediction on its price movements can be difficult to make. That being said, some recent positive news and events that have taken place may potentially lead to a rise in the price of Bitcoin of 2.50%.
Most notably, several large companies recently announced that they would accept Bitcoin as a payment method for their services. Companies such as Microsoft, PayPal, and Square all signaled that they would be allowing customers to pay with Bitcoin. This is a major development in the money transfer industry given that it adds increased practicality and usability to Bitcoin.
In addition, some large scale investment funds have also announced that they would be investing in Bitcoin as part of their portfolios. This could signal additional capital to enter the market and thus drive prices up.
Finally, there is a certain degree of optimism in the market about an increase in institutional investors getting involved. This could lead to an influx of capital that could push prices higher.
Given the the current fundamental events taking place surrounding Bitcoin, a 2.50% rise in its price is possible in the near term. In the long-term, however, more events would need to take place that would result in a sustained increase in Bitcoin’s price.
