Bitcoin surges as analyst predicts $100,000 before end of 2021

The crypto market is valued at over $2.35trn

Bitcoin was soaring over the weekend, even climbing above $52,000 at one point on Monday.

Digital gold was joined by fellow cryptocurrencies, Ethereum (ether) and Cardano (ada), which are both nearing record-highs.

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The overall market cap of Bitcoin stands at $965,601,415,664at the time of writing, just shy of Facebook which is valued at over $1trn.

Overall, the crypto market is valued at over $2.35trn, its highest point since May.

One online pseudonymous analyst, known as Plan B, gave a price prediction for Bitcoin of $100,000 by Christmas.

The move comes as El Salvador is set to become the first country in history to make Bitcoin legal tender.

Nayib Bukele, the president of El Salvador, said the policy would promote financial inclusion, investment, tourism and innovation.

El Salvadorians will have the option to use Bitcoin if they wish – pensions and salaries will still be paid in US dollars.

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