Bitcoin leaps above $5,800, hitting record high
Bitcoin (BTC) reached a record high of $5,856 in the past 24 hours, since dropping back down to approximately $5,600, a price that is still up $1000 since the beginning of the week.
The digital currency has now almost seen a fivefold increase since the beginning of the year, rising 480% over the course of 2017, as investors are increasingly shrugging off the warning form some analysts that are expecting the market’s imminent collapse.
However, due to its volatility, others who have expected Bitcoin to continue to grow have been proven correct.
"Throughout the year, we have predicted bitcoin to surpass the $5,000 mark and reach closer to $6,000 by year's end,” said Gatecoin’s Head of APAC Business Development, Thomas Gluckmann.
Other cryptocurrencies have also seen strong performances, as the combined market cap rises towards 1 September’s record high of $172.5bn, with Ether rising 5% and Litecoin rising 14% over the same time scale.
Such figures suggest that the markets have recovered since China revealed that it would be banning initial coin offerings (ICOs) at the start of September, an announcement that saw the markets drop 7%, losing $14bn.
Ericsson: 5G will be fastest adopted mobile generation in hi
Ericsson’s June Mobility Report projects that nearly 600 million 5G subscriptions will be active by the end of 2021, making it the fastest adopted mobile generation in history.
The longer range forecast is for around 3.5 billion 5G subscriptions and 60 per cent 5G population coverage globally by the end of 2026.
China, the US, Korea, Japan and the GCC (Gulf states) will lead deployment, with Europe lagging behind. The latter got off to a slower start and has been mired in infrastructure battles over the provenance of hardware.
North East Asia is expected to lead 5G deployment with an estimated 1.4 billion subscriptions by 2026, while North America is expected to account for the highest 5G subscription penetration.
Key findings of the Ericsson Mobility Report, June 2021
5G remains on track to become the fastest adopted mobile generation in history with subscriptions increasing at a rate of about a million per day
China, North America and the Gulf Cooperation Council markets are leading the way on subscriber numbers, while Europe is off to a slow start
5G subscriptions with a 5G-capable device grew by 70 million during the first quarter of 2021 and are forecast to reach 580 million by the end of 2021
5G ready for 'advanced use cases'
Fredrik Jejdling, executive vice president and head of networks, Ericsson, said, “We are in the next phase of 5G, with accelerating roll-outs and coverage expansion in pioneer markets such as China, the USA and South Korea. Now is the time for advanced use cases to start materialising and deliver on the promise of 5G. Businesses and societies are also preparing for a post-pandemic world, with 5G-powered digitalization playing a critical role.”
Photo credit: Ericsson