In recent developments, bitcoin bulls have pushed the cryptocurrency past the $26,000 threshold, sparking debate over whether now is the right time to invest.

Although bitcoin traded at $26,000 on Sunday, a slight dip of over 0.50%, broader economic concerns loom in the background.

Economist Peter Schiff warns of an impending “full-blown financial crisis” in the U.S. before the Federal Reserve can effectively achieve its inflation target.

Meanwhile, despite bitcoin’s prominence, SWIFT data highlights the continued dominance of the US dollar in international payments.

On a more optimistic note, Charles Hoskinson, the visionary behind Cardano, boldly predicts that his brainchild will surpass Bitcoin and Ethereum to stake its claim as the world’s leading cryptocurrency.

US dollar remains top choice for international payments

The use of the U.S. dollar in global payments has increased, according to SWIFT data. In July, the US dollar’s share of SWIFT foreign exchange transactions reached a record 46%, up from just over a third a decade ago, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

This growth has largely come at the expense of the euro, which peaked at 46% in 2012 before falling to less than a quarter.

Price Forecast for Bitcoin

Despite market fluctuations, the technical aspect of bitcoin remained stable on Sunday. The opening price of the widely used digital currency, bitcoin, is consolidating in a tight trading range of $25,500 to $27,000.

It seems that BTC/USD is undergoing a positive correction and could potentially reach a value of $27,400.

BTC has the capacity to exceed this amount and reach an estimated value of around $28,650.

Even though bitcoin has been fluctuating lately, there is still potential for it to grow. It is important to note that if the price of bitcoin goes below $25,500, it could potentially reach around $24,100.