Does it go to $ 318,000, $ 500,000 or $ 650,000, or are we not even close to that? No cryptocurrency has spoken so much believers as non-believers as bitcoin. 2020 does have the potential for the currency proven, with a growth of 300 percent in a year, even skeptics are slightly more positive. But as with almost everything, past results are no guarantee for the future. What are developments that could help 12-year-old bitcoin in 2021? First of all, it is the most used of all 3000 crypto coins. With a market value at the beginning of this year trading platform Coindesk.com of nearly $ 600 billion. A maximum of 21 million pieces are made of bitcoin, – around 18.5 million have now been put into circulation. The course of the crypto currency can be called volatile. Although there is an upward trend. Bitcoin broke for the first time at the end of 2017 through the magical $ 20,000 barrier. There was a worldwide run on the crypto currency. At the same time, governments in countries such as China and South Korea started legislation around the Bitcoin to tighten faster.
Partly because of this, the Bitcoin lost in the beginning of 2018 more than 60 percent of its value. The currency revived at the beginning of 2019, but in November In 2019, the Coinmarketcap reported a fall of 10% in the value of the bitcoin to about $ 7,000. And so there was that enormous growth last year to $ 34,000 in December. What gives the boost now? The number of bitcoin whales has increased significantly: these are people or large investors who own at least 1000 bitcoins. Last week, this statistic reached a new high with 1994 whales. This is evident from the figures of a bitcoin data company. And large institutional investors in particular have recently entered: eg Anthony Scaramucci’s Skybridge Capital with $ 182 Million; MassMutual for $ 100 million and asset manager Ruffer purchased $ 750 million worth of coins. And they don’t just step in or out. But if they do, this gives a significant price movement.
Another support is that the crypto currency is becoming more mainstream. According to Blackrock, bitcoin has now entered a phase in which the currency is an appropriate one could be investment if you look at a broader investment portfolio. Another reason why institutes are now entering the market is the better infrastructure. Regulators provide better protection for investors and payment processors -Square and PayPal allows the use of the currency.
And Microsoft has been paying off since 2014 for its XBox Store, followed by companies like Home Depot and Starbucks. But not everyone is over. The well-known economist Nouriel Roubini calls bitcoin one on Twitter yesterday “total irrational bubble on a pseudo-investment with no intrinsic value.” And please note: as fast as the bitcoin can rise, it will drop just as quickly. On Monday, investors were reminded of this again: they lost at the low point bitcoin more than 20% compared to the peak of the day before, on Sunday. So the crypto coin has a lot of potential. But if something is true in the story of bitcoin it is: results from the past …..