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On Thursday, Bitcoin lost 2.35%, closing the day at $61,414. The near-term bullish trend is intact according to FX Empire, supporting a return for the premiere crypto to around $66,000. To form a bearish trend, the biggest crypto would need to fall through the 62% FIB of $27,237. This morning, Bitcoin was down by 0.09% to $61,361.

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Bitcoin is the top cryptocurrency by market value and the first one to come into being. It’s gaining mainstream acceptance, propelled by the SEC’s endorsement of the first Bitcoin ETF in the US. Today, it was reported that the NYC mayor-elect would take first salary payments in Bitcoin. El Salvador became the first country in the world to accept it as legal tender. Others will follow.

Bitcoin can go either way, but one thing is certain – it’s a great store of value and its price will only increase in the long term.

Predictions vary wildly, from reaching $100k by the end of the year to dropping to $49 by the end of November. According to Forbes Magazine, it will reach an average of $249,578 and $5.2 million by the end of 2025 and 2030 respectively.

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