Market review: BTC at the end of 2021
No matter what people say, Bitcoin does not confirm the negative forecasts. This point is replete with excellent evidence: according to Coinmarketrate.com, Bitcoin has been growing for four weeks in a row and shows growth rates for the second month. Since February, when he was climbing to a record, he showed the fastest growth in 21 days.
Although regulators promise tougher measures against cryptocurrencies, digital money continues to develop, despite criticism about its impact on the environment. One of the countries that opposed the mining of cryptocurrencies is China.
Where will Bitcoin be by the end of 2021? 35 financial experts answered this question. Most panelists predict that this will be another successful year, especially for Bitcoin, with experts predicting that the price of the asset will average $94,967 at the end of the year.
For comparison, in December 2020, the group predicted that by the end of 2021, Bitcoin will be trading at $51,951.
In addition, the group believes that by the end of the year, BTC can reach $100,000. The leading virtual currency is expected to reach an average peak of $107,484 by 2021.
One of the panelists, Samantha Yap, CEO of YAP Global, explains that institutional adoption will continue to push Bitcoin up.
It is interesting to note that few panelists expect the Bitcoin price to fall below $60K this year. The lowest forecast was made by Lee Smales, an associate professor of finance at the University of Western Australia, with a year-end price of just $25,000. Other participants in the discussion predicted that the price of Bitcoins will be 40-56 000 US dollars at the end of 2021.
On the other hand, Morpher CEO Martin Frehler believes that the future is for BTC, and this year it will reach $250,000.
“Bitcoin will ultimately be the means of saving, and it will replace gold and bonds”, Frehler said.
As for 2025, the group predicts that Bitcoin will end the year with 360-179 thousand US dollars. Approximately one in seven respondents (14.29%) predicts that BTC will reach $1 million by the end of 2025, and more than a third (35.71%) expect it to reach $500,000 by the end of 2025.
The latest Bitcoin price forecasts are taken from Bloomberg’s Crypto Outlook. This report examines various cryptocurrencies and their expected results in the coming months.
There is a high probability that the PTS will experience significant growth in 2021. According to the report, the crypto market is likely to grow to $100K this year, rather than decline to $20K.
Bloomberg predicts not only the growth of BTC. In general, the publication expects a rise in cryptocurrency prices in the near future. The same is likely to be true for other digital assets, including Ethereum.
The Venture Capitalist’s Prediction
Even with the sharp fluctuations in the value of Bitcoin and concerns about its energy use, billionaire venture capitalist Tim Draper says that the cryptocurrency will grow to $250K by the end of 2022, or early 2023.
In 2018, when Draper first made a bold prediction, Bitcoin was worth about $8000.
Draper predicts that the BTC will move in this direction anyway. According to him, by that time the currency will be widely used.
The Opennode payment processor, an industry standard, will be widespread enough in about a year and a half for everyone to accept Bitcoin.
Now Microsoft, PayPal, Overstock, Whole Foods, Starbucks and Home Depot are among the main companies accepting Bitcoins directly or indirectly through a third-party digital wallet application. Experts believe that Bitcoin is more a means of saving than a currency.
What will happen to other major altcoins?
According to market capitalization, Ethereum is the second largest cryptocurrency with a price of $369 billion. Since the beginning of the year, the value of ETH has increased by 854%, which is significantly higher than the value of BTC.
In fact, it has the strongest “bullish” positions in the industry due to a variety of growth factors. The main reason is the next ETH 2.0 update, which is expected to be a critical component in the expansion of decentralized finance (DeFi).
In connection with the update in 2022, the Proof-of-Stake system will be introduced. The reliability, security and efficiency of the platform are among the main goals of the update.
With a market capitalization of more than $11 billion, Litecoin is one of the most valuable crypto assets. One of the oldest cryptocurrencies on the market, created using a fork in the Bitcoin block chain. The asset has grown by 215% in 12 months. There were a few mistakes, however, LTC showed signs of recovery, which is a sign that the market is turning around.
Like BTC, LTC is a highly decentralized cryptocurrency. The transaction takes only 2.5 minutes, not 9 minutes as with BTC. По крайней мере, 40% его транзакций также дешевле, чем у Биткойнов.
In fact, it took a long struggle to maintain market share and brand awareness. Although it would be difficult to beat the industry giants, it has long-term advantages due to its unique characteristics and value for users.
Remember a few things about Bitcoin Online
The basic idea is that Bitcoins are sold through internet devices such as computers, laptops and mobile phones. People get a lot of information about the exchange of digital coins. The world of cryptocurrencies opens up new opportunities for attracting traders to short-and long-term transactions.
Online blockchains store transaction details for the successful completion of cryptocurrency trading. Keep in mind a few important points when you move on to buying some fresh Bitcoins on crypto exchanges and from dealers. Of course, it is better to use proven resources, such as WallBTC or BitTeam. But if you still want to try some new exchanges, then:
- Make a risk management plan
Financiers who dream of earning income from the difference in several foreign currencies should know the pitfalls. When the price of a digital coin drops sharply and suddenly, you should have a risk management plan by buying Bitcoins at low prices. The volatility of cryptocurrencies in the market affects the price movement from the maximum to the minimum, and vice versa.
So, preventive programs are worth it for an investor to monitor the situation of the crypto industry online. A professional bidder should understand the pros and cons of destabilized cryptocurrency trading on the Internet. This gives them a roadmap to avoid uncertainties.
- Don’t read fake news about crypto
Regular notifications from news agencies and book publishers make your mailbox a garbage dump, because of a bunch of fake data. You don’t know who to believe in the forecasts. You see, most unreliable sources provide cheap data.
Do not browse through bundles of newsletters, updates and e-books to have an idea of how to determine the best cryptocurrency exchange. It doesn’t work, but it makes someone tense, nervous and upset.
Follow the best advice of experts who are versatile in cryptocurrency trading. Their advice leads to good results. Also, use your assumptions to choose the best time to buy or sell coins.
- Avoid fraud
Scammers are too active in the crypto industry arena. They mislead people by offering incredible methods of making a profit. You must be smart and wise when using data analysis capabilities. Calculate the difference in price to expect what it will cost you. Before placing bets on such offers, try to check the licenses, brand reliability and performance of brokerage sites.
- Do you need a brokerage site to work with cryptocurrencies
The practical knowledge of a novice investor should be based on reliable information. Each trader needs to open a brokerage account. Here, the participant must make a minimum deposit of $50 or more. However, there is no strict rule on this score.
Bitcoin is not a fiat currency, it is a decentralized coin that is exchanged over the Internet. This is a programmed coding system that can be locked to prevent any problem or theft.
- No software for robots or bots
On the Internet, you can find a lot of AI-enabled robotic elements that help traders buy coins in digital format. These bot tools are also free for beginners. These advanced, technically upgraded machines are pre-configured with data provided by different brokers.
For a serious business, this type of robotic software is not allowed by an authorized crypto exchange. For this reason, avoid downloading unidentified robotic machines or mobile applications from the Internet for free. Beginners can try out these artificial intelligence tools for demonstrations, free training, and trial versions.
Bitcoin mining is not unlimited. There can be a maximum of 21,000,000 coins, and this is not subject to change. Realizing this, for many, Bitcoin becomes the most valuable asset of saving value.
Bitcoins are sold through leading brokers who have their own websites, with advanced systems for managing the entire trading infrastructure. These brokerage portals are not completely free, and sometimes very expensive. In any case, the trader must pay some part of the commission for using the website. However, you should not pay hidden fees charged by the service provider.
Experts publish their informative articles and reviews about blockchains and cryptocurrency projects, which you can find on our website. Please follow their advice by viewing their content to become a universal crypto trader in the long run. After all, the most important thing is safety!