Will Bitcoin surpass $14,000 level before year-end?

Bitcoin's price had last closed at $13,000 in 2018 and after over two and a half years later, it closed above the same price level for the first time last Saturday. Most asset managers and analysts believe that bitcoin could cross $14,000 before the year-end.

According to Forbes, the bitcoin price rallied 20 percent through October, to touch year-to-date highs of $13,230/bitcoin. Year to date, the cryptocurrency has gained over 80 percent.

Last week, the news of PayPal allowing its customers to buy and sell certain cryptocurrencies, along with recent investments in bitcoin by Square and MicroStrategy, has given bitcoin a strong tailwind, said CoinDesk. The website closely tracking cryptocurrency also said JPMorgan analysts feel bitcoin has "considerable upside potential."