Bitcoin breaks through $1,500 and moves towards $2,000, more important investors will enter the market

Putting aside the long-standing struggles in the Bitcoin community and the recent capital inflows into other cryptocurrencies, do you think Bitcoin is currently on track to enter the $2,000 range?

Bitcoin is in troubled times

Since Bitcoin’s price dropped to $908 on March 25 due to the controversy over scaling, it has now surged back to over $1,300 (as of press time, the Coinbase price has exceeded $1,500).

Bitcoin prices have been rising for much of April, with talk of an “altcoin bubble” frequently surfacing.

Today, even when some factors that are thought to affect the price of Bitcoin in May have not yet arrived, the price of the currency has already risen in advance and is now hovering around $1,450. The French election, India's digital currency decision, the US Securities and Exchange Commission (SEC) decided to review the Bitcoin ETF, and we are not even sure when the deadlock between some banks and digital currency exchanges will end. According to media reports, several large Bitcoin exchanges including Bitfinex and BTC-e have suspended US dollar recharges. These are all factors that may affect the price of the currency.

Bitcoin threshold has been set

What is clear is that Bitcoin has not fallen due to these factors. Judging from one part of the market, investors in particular are paying close attention to this area.

Perhaps this is because these investors are beginning to realize that there is no other technology like Bitcoin or because some have already tried it and seen that Bitcoin is worth investing in.

With a market cap of $21 billion, the potential of the digital currency market, Bitcoin, which has been considered as the main pillar of other cryptocurrencies, often presents huge opportunities. Every day, more innovations are being created by smart minds who are bent on being associated with our existence.

The Bitcoin market is gradually moving from a $20 billion market cap to another $20 billion, and perhaps more important investors will come in. However, we can still say that many investors who can afford the current price of the currency have not yet entered the market.

On the other hand, not all citizens in countries that currently have access to Bitcoin can afford to buy it. The traction Bitcoin is currently getting in the mainstream media — with the price of the coin hitting all-time highs and surpassing an ounce of gold — could be a catalyst to fill these gaps in due course.