A Crypto Christmas...and beyond?
BTC cryptocoin could rise SIGNIFICANTLY in a 2021 bull run, according to industry'experts‘.
BITCOIN continues to reach fresh heights over this last few weeks, leading some to suggest that the crypto coin may soon pass its 2017 ATH –(all time high), and beyond...
Many people seem to be bullish on Bitcoin for 2021....
After more than doubling in value in 2020, traders are becoming more and more enthusiastic for the longer term outlook. (bitcoin price adding almost 50 percent to its value just this month alone!).
BTC is currently trading at...
Enthusiasts for bitcoin say there are several reasons to remain optimistic and that it’s performance will continue into 2021.
According to Danny Scott, CEO and Co-Founder of CoinCorner “....(there’s been) more good news from this week alone than bitcoin‘s had in years , back in its early days.”
BTC strength is that it's finite - there will only ever be 21 million of the digital asset in existence.
Mr Scott said: “There are expectations for what might come after, with history telling us that the Bitcoin price will typically begin to rise significantly (20x+) within the 18 months following a halving — often simply put down to supply and demand.”
If the coin rises by 20 times it would make bitcoin worth over $300,000!
Mr Scott added there is also a change in where the demand is originating from, this time. “Compared to 2017 when demand came from the retail market – the current demand is coming from an institutional level, completely flying under the radar for many people and it looks set to continue through 2021.“
Grayscale for example, has added 32,000 bitcoin to their portfolio last month alone. CashApp received $1.6 billion worth of revenue from their customers buying bitcoin, in Q3 2020. PayPal has announced that their customers will be able to buy Bitcoin (and LTC) come 2021.
Mr Scott also thinks the financial uncertainty triggered by the coronavirus may have actually improved bitcoin’s prognosis.
He said:
“Touching briefly on the unfortunate situation the world has suffered this year, the coronavirus crisis had the knock-on effect of causing a long-awaited financial crash in March.
This resulted in Government bailouts: the US FED printing $3 trillion, plus another $2 trillion on the way, the Bank of England likely printing towards £1 trillion and many more around the world following suit“.
While these policies may be necessary (in the eyes of the banking sector) to stimulate the economy , it comes with a huge risk of inflation on a scale that's never been seen before. Hyperinflation.
He said: “When it comes to financial uncertainty, people look for a safe haven and bitcoin is becoming this. Bitcoin investors are here for the long-term, they have strong hands and are preparing for the next 20 years.“
The 'bitcoiner crowd‘ is also continuing to accumulate and HODL -leaving less liquidity available for the newcomers. This will most likely continue drive the price upwards.
The CoinCoiner CEO already views bitcoin as a success, saying,
“...this is only the beginning.”
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