Investors are going to look back at 2021 as the year in which the Bitcoin experienced perhaps its most phenomenal rise ever. The Bitcoin has successfully entered the mainstream with a growing number of international fintech institutions accepting it. In October itself, the crypto has gone up by more than 50%, hitting a record high of $66,000. Now the question is whether this momentum is sustainable or not.
A popular price forecasting model suggests that the crypto will hit 6 figures before year-end while a group of critics think a crash is imminent like the one in mid-April. Most investors feel however that Bitcoin’s intrinsic worth is in its built-in scarcity. Those who believe in the meteoric rise of this cryptocurrency label it as “digital gold”; they think it can surpass the $11 trillion market cap for gold. Launch of the first Bitcoin Futures ETF in the NYSE recently has also led to comparisons between gold and Bitcoin.
This move has been most encouraging for the crypto world, exposing Bitcoins to a hitherto-untapped group of investors. According to Nick Spanos of dApp platform Zap, $100,000 seems possible for BTC in the short-term and it has the power to go much higher. So, if you are thinking of investing now, you could actually have your investments skyrocketing within a short while. Bitcoin continues to have a lot of unexplored potential, making it a wise investment option along with altcoins which are expected to give high returns. Invest with the help of automated robots such as Bitcoin Era where the trades are performed in a fraction of a second to generate profits. Investors can register for free and deposit a minimum of 250 Euros to achieve high profits. Visit https://kryptoszene.de/bitcoin-robot/bitcoin-era/ to know more about the trading bot.
Critics had always argued that Bitcoin is not scalable enough to be accepted as mainstream payment. This was because transactions till recently were rather slow and costly. But, with the Lightning Network, this problem seems to be under control. El Salvador is one of the countries where Bitcoins have become legal tender beside the USD. Others in Latin America are working towards the same goal with favorable crypto laws being made in Paraguay, Argentina, etc. With more countries hopping onto the Bitcoin bandwagon, prices are predicted to escalate further.
A panel comprising of many Bitcoin and crypto experts are of the opinion that BTC prices will keep climbing throughout this year, possibly reaching $80,000 before ascending to a whopping $250,000 in 2025.
With Bitcoin becoming mature and growing in value, it will start behaving like gold, and not like stocks. The belief amongst optimists is that the Bitcoin will ultimately dethrone gold, becoming the king amongst safe-haven assets. This esteemed group of analysts, experts and researchers predict prices to be around $80,000 at the end of 2021. However, at the same time, some of the panelists are not “bullish” about its prospects. According to these people, the bubble will burst eventually and it makes sense to sell your Bitcoins.
With governments providing financial packages to stimulate the economy after the coronavirus crippled economies everywhere, the cryptos had been soaring. But critics feel that this needs to be corrected and traders must be warned against extreme volatility. But Bitcoin’s latest high has set a precedent for the crypto industry. Such attention-grabbing headlines will propel its rise further. Today, one can access Bitcoins in only a few clicks of their smartphones. It is no more something that people simply talk about online; almost anyone can get it easily, just like they shop for groceries online.