The Bitcoin (BTC) cryptocurrency, according to the analyses and forecasts of specialists from investing.comod, may reach a value of about 60 thousand dollars in 2021! This is undoubtedly due to the extraordinary popularity of the cryptocurrency, thanks to the record-breaking quotations in the year
According to Jesse Cohen, one of the senior analysts at investing.com, in 2021 we could witness the value of Bitcoin rise to $60,000. According to him, this growth can be driven from two sides – institutional investors and financial support, the so-called pumping of funds into the global financial system, which is supposed to be authored by central banks such as the US Federal Reserve.
Bitcoin’s record highs in 2020 will continue in 2021?
“After a record-breaking 2020 in which Bitcoin jumped more than 300%, Bitcoin looks set to remain strong in 2021 as more retail investors – and large institutional buyers – enter the market […] For those already in the market, HODL remains the prevailing strategy […] First-time investors have found their way into many assets perceived as risky, including Bitcoin.”
Jesse Cohen’s comments correlate with a new cryptocurrency-related survey conducted by Investing.com. According to 63% of respondents in the UK plan to buy Bitcoin in 2021. Over 60% of the 800 respondents also said they believe Bitcoin will rise above $60,000 in 2021.
As Bitcoin grows, so do concerns
Despite growing confidence in Bitcoin’s 2021 rally, there are many concerns about the surrounding regulatory climate. “As Bitcoin moves into the mainstream and attracts more attention, it will likely attract further scrutiny from regulators in the US, Europe and Asia,” – Cohen said. Cohen is particularly concerned about the impact of the new US presidential administration. “The path forward, however, may not necessarily be as smooth as later. I expect a set back,” – Cohen added.
What’s next for bitcoin?
As you can see, cryptocurrency analysts are predicting further increases, but they also have concerns about the stability of the value of the Bitcoin cryptocurrency. It is an undeniable fact that 2020 was a landmark year and there are many indications that Bitcoin has not said its last word. Nevertheless, it is worth probing for new information from analysts, which I also report on the site.