There is a certain fun element attached to speculating about the growth and valuations of financial assets. This includes all major assets like real estate, gold, crude oil, stocks, and cryptocurrencies. Many people live with the misconception that the asset or commodity itself decides its own value. That is not the case. It is the people, which define and identify the value of any asset.
Just to put some important speculations into perspective about Bitcoin’s prices, we should pay attention to the following-
● According to Paul Tudor Jones who oversees more than $2 Billion USD in investment assets, Bitcoin is likely to cross the $200K mark by year-end 2021.
● John McAfee thinks that the crypto will rise to an astronomical $1 Million USD in the same time period.
● Bitcoin expert Mark Helfman thinks that Bitcoin has the potential to breach the $350 K mark by 2021.
These are all bold predictions and might be accused of being a bit unfair in actual terms. However, in this article, we are going to give you five top reasons, why the price hike is going to be very significant.
List of 5 Reasons Bitcoin is going to be bigger than ever before in 2021
1. Commercial Banks has started engaging with Bitcoin-
In almost all the countries of the developed world, commercial mainstream banks are storing, accessing, trading, and investing in Bitcoin stocks. This is very similar to the asset banks hold like gold, which helps them maintain a strong base financially.
Whether it is Germany, Netherlands, France, or Switzerland, banks have started to play a major role in answering the demands and requirements of individuals and exchanges looking to trade, buy, sell or invest in the cryptocurrency.
2. Increasing Attention from Wall Street-
The past three years have been defined by institutional investors trying to get their foothold in the crypto ecosystem. Some of the biggest wealth and investment funds on Wall Street have picked up sizable stakes on behalf of their clients.
The more attention Wall Street gives to cryptocurrencies like Bitcoin, the better is the belief that they would lobby to the governmental authorities for its formalization. This helps in ensuring the safety and security of the crypto and allowing it a legal and formal air.
3. New US Presidency in 2021-
The outgoing American President was not too favorably disposed towards cryptocurrency, discussing the new tech and innovation as ‘fake news’. However, with a newer President with radically different views coming to power, insiders predict a far closer engagement.
While it is still too early to say the policy stances, which will be adopted in this regard, experts predict a favorable disposition of the new regime to Bitcoins and other cryptos. This would be done with an eye on China and of counter-balancing their new Digital Yuan.
4. New Geographical Territories Powering Growth-
It is no longer the western developed countries that are powering the world’s cryptocurrency growth story. Many other countries, especially in Africa, Asia, and South America are emerging as the new hotspots for Bitcoin trading and investing.
For example, when India’s highest court overturned the ban on Bitcoin and other cryptocurrencies set in place by India’s Banking Regulator, the country saw a huge spike in the number of people trading and investing in Bitcoins. This is similar to other countries as well.
5. The Accessibility to Trading Platforms-
With the rise in popularity and demand, several new exciting and enterprising start-ups have come forward to create stellar trading systems and apps for trading Bitcoins and another crypto. The click money system is one of those names, which has revolutionized the industry.
This has made access to crypto trading easier for normal people who previously thought of the same as too complicated of a procedure. With low trading commissions, superior software, and easy cash-out functions, trading platforms are helping normal individuals profit from Bitcoins.
The Final Word
2021 is going to be a massive year for Bitcoin and other cryptocurrencies. With the world’s economy once again showing signs of growth and stability and a COVID-19 vaccine well on its way to development, Bitcoin is expected to surge to newer heights.