2020: The bullish year for Bitcoin
The year started with the expectation of a major bull run for the digital asset. It rose from over $7223 in January 2020 to cross $10000 for the first time in 2020 on February 12, 2020, standing at $10305.
However, the very next month was very bearish, the digital asset fell down to nearly half, on March 14, Bitcoin was priced at $5476. Recovering at rocket speed, Bitcoin came back with drastic figures crossing the $10000 mark.
Bitcoin price jumped consistently each month till it reached above $95000 and was struggling to cross $10000 in the month of June 2020. The last month of July witnessed an immense surge in the price, wherein Bitcoin not only crossed $10000 mark but also attained new heights of $11000 price and 200 billion market cap.
The rest of 2020 is predicted to be a major bull run for the digital asset. Many investors and traders speculate the price could touch $20000 by the end of 2020 and also advice that holding bitcoin at present would be profitable.
You may also want to know – A story of an American Footballer who lost all his money in Crypto, but believes in Bitcoin Still
Bitcoin in 2021 – Bitcoin Whale Coming ?
Continuing the bullish trend in 2020, Bitcoin in 2021 is expected to capture the market by marking new heights. Many traders and analysts predict the greatest heights Bitcoin had ever attained.
There are many predictions with the Bitcoin price in the crypto space but the most popular prediction is Bitcoin price to hit $100K by the end of 2021. Many analysts like Max Keiser, Plan B have predicted the same.
According to a veteran macro investor, Dan Tapiero, 2021 could be a year with massive liquidity hitting the markets. He says,
“ Massive global liquidity to hit markets NEXT year. The chart suggests the equity market at risk of a correction in Q4, then a single greatest rally of our lifetime in 2021. Enormous speed and near-vertical price increase possible. Might be led by Gold this time, Bitcoin would benefit too.”
However, there are much more big predictions for the digital asset which forecast much more heights than $100K in 2021. But what do you think, what might be the reason for the Bitcoin whale to occur?
Top Reason Why Bitcoin Peak.!
Many analysts predict a bullish trend of the digital asset with a skyrocketing price to reach nearly $100k by the end of 2021. The factors contributing to their predictions are summarized below,
- The Sinking world economy
The COVID-19 has left the financial system paralysed around the world. Therefore many people being uncertain with the fiat currency might shift their focus on cryptocurrencies like Bitcoin.
- The Measures adopted by the FED
The COVID pandemic has forced the FED to take steps like never before by printing trillions of dollars and the central banks slashing the interest rates to near-zero also has assisted the growing adoption of the digital asset.
- The regulators entering the crypto space
The regulators are stepping in the crypto space to bring cryptocurrencies under a regulatory umbrella. Also, many banks around the world also have started offering crypto services to their customers. Moreover, banks in the US can hold cryptos on behalf of their clients.
- Mass adoption by the younger generation
As per some reports the younger generation has attracted towards the digital assets. Most of the millennials have opted cryptocurrencies to invest their funds as they believe they are more secure than any centralized entity.
What is your assumption on the bullish year ahead anticipated for the digital asset? Do let us know on Twitter.