According to a leaked report from Citibank, Bitcoin can hit $300,000 in 2021; this value is more than sixteen times its current value. Other major Cryptocurrencies such as Ripple, Litecoin, Ethereum have viewed a recent uptick, and this led to rising in their market capitalization value.
Bitcoin is a young technology, yet it has already obtained its place in the global financial system. There are already several arguments regarding this virtual currency. Experts have stated that Bitcoin can replace the financial world with its unbelievable gains and benefits.
Besides, PayPal and other major firms are accepting Bitcoin due to its high popularity and demand. This is attracting young investors to invest in this valuable asset. Unlike fiat currencies, digital currencies eliminate the physical barriers that make a transaction slow.
Top 5 Bitcoin Price Prediction For 2021
According to the CIO of FiCAS AG, Bitcoin can reach up to $200k to $300k by the end of the year 2022.
At present, it is very difficult or impossible to ignore the popularity and benefits of Bitcoins, such as low transaction cost, fast transaction speed, no physical barriers, secure payment method, uses Blockchain network, and much more.
Now, let’s discuss the major price predictions of Bitcoin in 2021 that will hold your attention for a while.
1. More Mainstream Acceptance
In 2020, we saw a remarkable evolution in the adaptation of Bitcoin. There is also a rise in the number of merchants and institutions accepting Bitcoins and other virtual currencies.
Therefore, in 2021, Bitcoin can hit up to $300,000. This trend is developing and will remain to develop in the future. We have also seen a high number of Bitcoin wallet users, thus indicating the worldwide acceptance of virtual currencies is increasing.
2. Continued Volatility
Unlike traditional currencies, the value of Bitcoin is not tied directly by any monetary policy. The price fluctuations of Bitcoin completely depend upon the demand and supply of the same asset.
Besides, the price volatility of Bitcoin is used as a strategy by various traders to earn high returns on investment. The value of this asset is truly huge, and no one is hoping to lose big losses after investing.
Predictions have already stated that 2021 can be seen as the best year for Bitcoin, and most virtual currencies will be accepted worldwide.
3. A New Regulatory Planning Field
Another major prediction regarding Bitcoin is that Joe’s Biden will be better for Cryptocurrency. It can become a new regulatory planning field with higher priorities.
On the other hand, the team of Biden’s are heading forward to regulate digital currencies in a more rational and comprehensive way. This is another major prediction regarding Bitcoin that you must know if you are willing to invest in this asset in the future.
4. Competition from Central Banks
Another prediction of Bitcoin indicates a high competition from central banks. More than eight percent of central banks are running on some form of Cryptocurrency.
Besides, China is already ahead of the digital currency competition and even has its own virtual currency, ‘Yuan,’ which is issued by the government authorities. China is developing digital Yuan, which can be adopted by individuals all over the world, and this can cut the demand for Bitcoin.
5. Competition from Big Tech
Competition from big tech is another Bitcoin prediction for 2021. Companies such as Google and Facebook have a tremendous global influence that Bitcoin can only dream of. Hence, Bitcoin is facing high competition from big tech.
Moreover, the government will start to Hodl Bitcoin in 2021, and this digital currency is likely to break the $50,000 this year.
The Final Thoughts
The future of Bitcoin and other Cryptocurrencies seems to be bright by considering its predictions. The bitcoinrevolution app platform is also expected to grow in 2021 at a rapid speed. Hence, the above factors are stated by the marketing experts by seeing the popularity of Bitcoin.
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