Bitcoin is the most popular cryptocurrency in the world

and has once again returned to headlines among the investment community. This artificial currency has given strong returns so far in the year 2020 and market experts believe that this boom is going to continue in the coming times.

According to a leaked report by Citibank, by December 2021, the price of bitcoin can reach $ 3,18,000 (about Rs 23/5 crore), which is currently bursting around $ 17,000 (around Rs 12.58 lakh). In this report of Citibank, bitcoin has been described as the gold of the 21st century.

This digital currency has given a jump of 160% from the level of $ 7196 as on 31 December 2019. Earlier on December 17, 2017, it achieved a peak of $ 19,870. In the year 2020, the price of bitcoin has increased by 168 percent to Rs 13,76,304.

This report said, "In the last seven years, there has been a very good and one-sided pace, which shows a set trend. A similar increase can be seen in the coming time. This speed shows this speed. Can be realized by December 2021 and the price can reach $ 3.18 lakh. "

According to the report, "It will tell the time to come whether bitcoin reaches this price or not, but it is expected to grow very well during the coming 12 to 24 months".

People who keep an eye on the cryptocurrency in India believe that this boom can continue further. Unocoin CEO Satwik Vishwanath said, "Investors have the pain of falling behind during the 2017 boom, but this time the reason for the rise is justified."

He said, "American heads are buying fungal crypto assets, PayPal is offering its customers the opportunity to buy and sell cryptocurrencies, DBS is also thinking of offering cryptocurrency services to its customers. Such reasons are legitimate and global. The recession and the epidemic have made them blossom. "

In 2018, this currency lost 73 per cent, while in 2017 it had jumped 1,337 per cent. On the other hand, the trend towards cryptocurrency is softening all over the world. For example, in August 2020, the International Monetary Fund released a video about its functioning, whose trend was neutral.

Jefferies' equity strategist Chris Wood said in his weekly paper Grid & Fear that investors who do not have bitcoins should buy one as soon as possible. Citibank has also dubbed bitcoin as the new round of gold.