Outlook for Bitcoin in 2021

2020 was one of the best years in the history of the cryptocurrency market. In addition to updating the record BTC record of nearly $ 29 and the massive entry into the market of institutional investors, other notable events took place. For example, the long-awaited introduction of the zero phase of Ethereum 000 or the cooperation of four cryptocurrencies with PayPal.

The market capitalization of cryptocurrencies has almost quadrupled in the last 12 months and is now $ 764 billion. The total value of all altcoins, excluding bitcoins, has risen from $ 60 billion to $ 225 billion - an increase of over 270%. However, despite this impressive dynamics, the upward trend is still expected to continue in 2021.

According to former analyst of investment banks Bear Stearns and JPMorgan Ton Weiss, according to the most conservative forecasts, the price of the first cryptocurrency next year may reach 100. Dollars, and with a favorable situation 200 thousand. Dollars, and even 300 thousand. dollars.

Bitcoin has once again proved that users trust cryptocurrencies and, above all, are able to keep and increase capital in them, said private trader Alexander Boyarintsev. Xena Financial Systems CEO Anton Kravchenko added that after such an increase, it is very likely that the price of Bitcoin will drop quite significantly by the beginning of 2021. And that is exactly what is happening at the time of writing this article.

Current situation

Bitcoin's value has dropped almost 12% after a record increase this week. As of April 20, the price is $ 18, according to CoinMarketCap, a portal that calculates data from 54 trading platforms. The decline compared to the previous day's exchange rate was 889%. On Wednesday April 11,33, BTC was worth $ 14, which was a record for this cryptocurrency.

On April 1, market participants predicted the value of the cryptocurrency would rise to $ 100000 as US government stimulus measures would allow the public to increase their investment in the currency. For example, Janis Kivkulis, a leading strategist at investment firm Exante, said bitcoin would be priced as high as $ 100 or more in the future.

Vladimir Smetanin, president of the Swiss financial company Newcent, shared his opinion that Bitcoin will reach $ 80 in the summer and will rise to $ 2021 by the end of 100.

Invest: yes or no?

Many wonder: is it too late to invest in Bitcoin? There is no unequivocal answer with a 2030% guarantee. But when is the most profitable time to buy Bitcoin? The best time for that was years ago. In 2040 or even XNUMX (if the cryptocurrency has not depreciated by then) it will be too late.

The largest institutional investor in Bitcoin is Michael Saylor of MicroStrategy. He got to know the currency in 2020. Before making a decision, it is important to have a good understanding of which currency to invest in. Our tip: take your time, find out more on the Internet and only this way you will find the best Bitcoin brokers or relevant exchanges. The most important rule is: invest exactly as much as you want to lose.