Digital analytics firm Chainalysis reported that the cryptocurrency market in Africa has grown significantly since last year in addition to the region having a larger share of overall retail transaction volume compared to the global average.
Recently, while the price of Bitcoin has been climbing, analysts at JPMorgan Chase, a prominent investment bank in the United States, issued another statement of skepticism about Bitcoin, arguing that it’s currently trading at a much higher price than its fair value.
During the second half of 2020, Institutional investors and big money have become increasingly interested in cryptocurrencies, buying up digital currencies like Bitcoin to fend off inflation. Ethereum (ETH), by contrast, is a much more attractive asset that justifies being the "first cryptocurrency" for every investor.
Over the past year, the price of Bitcoin keeps climbing and it recently shot above $18,000, approaching its all-time high in 2017 with a year-to-date rise of 150%. Some financial experts firmly believe that the current price is just a warm-up, and it sets to rise above $100,000 by 2021.