2020 has been a great year of cryptocurrency investors. Bitcoin and altcoins with strong fundamentals performed extremely well. Particularly in the month of December, BTC price kept hitting new highs almost every other day. At the time of this writing, bitcoin’s price is at a peak of 29K USD. The crypto community is in euphoria over the possibility of BTC hitting 30K USD. Nevertheless, predictions on bitcoin’s price in 2021 are even more promising.
2021 will for sure be a great year for bitcoin. Speculations are that BTC might reach 100,000 USD by the end of the year. We are not sure whether this comes true or not. However, the following factors are on the cards:
- The supply of bitcoin will shorten. This is already happening as we had a halving event in 2020.
- The investment will increase as bitcoin is popularized as ‘digital gold‘. In many ways, bitcoin is way better of an asset than gold. for example, it is gaining value exponentially and doesn’t require any logistical efforts for movement.
- The process of mainstreaming bitcoin will speed up. US Banks have already been granted permission of providing crypto services. Additionally, the concept of crypto banks is on the rise. All of it will create an ideal environment for bitcoin’s prosperity.
- Bitcoin’s price will get less volatile. As more and more people join the journey asset will stabilize in value.
- Bitcoin HODling will increase.
The BTC Price Model
All the famous market leaders and analysts are coming up with their own models for the crypto prices in 2021. One of the most optimistic plans is by a crypto analyst, Willy Woo. Mr. Willy explained through a chart on Twitter that BTC Price will keep hitting new highs until it reaches somewhere between $200K USD to $300K USD.
The plan may seem wishful at the moment but it isn’t out of question. Certainly, bitcoin is here to stay. You can count on it as an asset.
We wish all the best to crypto investors in 2021 and ‘may the odds be ever in your favor‘.
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