The humanitarian, economic, social, and political effects felt in the aftermath of the Coronavirus Pandemic has created a new world order.
At a time when we have been trying to fight wars at multiple levels (human survival, economic, social, cultural, and political), the world has drastically changed.
Whether it is with regard to the surge in digital and tech adoptions, or a new American President all set to take charge, or the mad race for a vaccine, it all looks like we are in the midst of some bizarre movie!
One of the most significant domino effects of the above-stated impacts has been felt in the financial spheres. Falling economies, rising unemployment, and slow demand for consumption have meant millions of individuals and families have suffered.
However, a shining ray of light has been the promise of financial growth and empowerment through Bitcoins and other cryptocurrencies.
In this article, we are going to look at why 2021 might be the year when Bitcoin and Altcoins come into their own as a viable economic and financial alternative for global systems.
Bitcoin in 2018, 2019, and 2020: How did it perform?
As someone who is interested in investing in Bitcoins, you should know that according to the experts, the above-mentioned three years were quite unstable. If you remember, in late 2017, Bitcoin saw its highest rally ever to nearly $20K.
However, it soon dropped and continued with its ebbs and flow, much to the dismay of everyone who wanted it to become stable. The year 2020 also saw Bitcoin crashing to nearly $3000 USD at the start of the pandemic. Within eight months, we again saw a massive surge to nearly $19K in late November.
What we are trying to say is that for experts in the field, the past two years, including 2020 can be defined as Bitcoin’s building years. This means that 2021 is going to be the year, which sees more elongated periods of stable growth and solidarity.
A common question doing the rounds is- what is going to happen to Bitcoins in 2021? If you go by the projections, mathematical equations, and trends, one thing is for certain- Bitcoin is going to see its most glorious run ever!
What Factors are going to drive up the Bitcoin Valuation in 2021?
- Increasing Institutional Confidence-
Using Blockchain, the year 2021 is going to see a lot of attention given to Bitcoin from institutional investors. We are talking about the bigger wealth management companies and equity fund ventures. They have already had a taste of things to come and are not going to leave any stone unturned when it comes to engaging with Bitcoins or other cryptocurrencies.
- Rise of the Mature Retail Investor-
We all know how retail investors are notoriously famous for engaging in short selling. 2020 saw retail investors getting very happy with a few low volume profits. However, they have seen the price rise aggressively. In 2021, experts state that retail investors are going to exercise a bit more caution when it comes to holding on to their Bitcoin investments.
- More Legalizations and Consent from Governments-
The economic fallouts of 2020 have meant that governments will be forced to engage with anything, which they feel will be able to give a boost to their economies. Any new asset trading automatically implies the creation of more wealth and more taxes for the government. This is why 2021 might see more openness and acceptance from government authorities.
The Final Word
At this stage, you might be thinking, all this is well and good, but what about the actual price high Bitcoin is expected to reach in 2021? There is a mixed bag of very credible predictions regarding this.
While billionaire investors like Paul Tudor Jones say that we are looking at a ballpark figure of around $100,000 USD, high-ranking executives from Citibank peg the number at more than $300,000 USD!
No matter what the final price will be at the end of December 2021, one thing is for certain- 2021 is going to be a very important year for Bitcoin.
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