Bitcoin always surprises us with its momentum, it evidently started the year with its parabolic move. There are tons of speculations and many curious investors predict its price since BTC always reaches another all-time high from the beginning of this year. With so much noise in the market, there are also a lot of altcoins emerging and following BTC's footstep. This digital asset is no doubt and could be the next gold of 2021, along with its volatility in nature there are still few rooms for Bitcoin to grow.
Major Companies are Jumping into Cryptocurrencies
With recent highlights of Tesla leveraging on Bitcoin, it is no doubt that the asset astronomically prints its all-time high. Sentiments that Elon Musk portrayed with cryptocurrencies have shaken the crypto world. Many believe that other major companies such as Apple will also dive into investing in Bitcoin. It is no coincidence that this happens, staking a billion-dollar investment have resulted in Bitcoin's surge. Other companies as well as looking into diversifying altcoins as an alternative.
On the other hand, many crypto investors strongly believe that this is different from the last bull run of 2017. Its market value rose up to 3% last February 16, 2021, around 7:30 AM ET.
Volatility on Bitcoin
The price volatility of Bitcoin has been one thing to consider in buying this asset. But in the past few days when few major companies are expressing their positive outlook on Bitcoin, it changes the stream of candle patterns. Less volatility is observed with Bitcoin and more buying pressures are on the list. It is possible that huge potential can be seen in Bitcoin as more companies will consider this digital asset and will roughly make new all-time highs again in the next two years.
According to Coindesk, Microstrategy has been observed to exhaust more buying pressure on Bitcoin. They also hold an ample amount of Bitcoin and plans to buy more assets in the following days.
Bitcoin can be the New Gold in 2021
With so much happening in Bitcoin at the beginning of the year, it is no doubt that BTC could end the year around $100,000. Given the talks of considering Bitcoin as a mode of payment in different exchanges. Thus, more traders and investors are eyeing Bitcoin. Though, BTC is still far from gold when it comes to market capitalization still, the inhibition of the data, has a lot of room for price action.
Others say that Bitcoin does not have any value at all. But believers still uphold Bitcoin that this is a scarce asset and a must-have asset. If we look into Bitcoin's first release and to where it is currently then Bitcoin is a for sure bet asset for 2021.
