The year 2021 started with good developments in cryptocurrencies. Bitcoin price has reached a new level. Even those with long-term loss with Bitcoin in December 2017 are now profitable. All this now tells us to develop new goals. However, there are some conditions for a new target.
- First of all, the price of Bitcoin rose rapidly to the level of 41999 at $ 10,000, thanks to greedy purchases of corporate companies. Bitcoin should have some rest. Although corporate companies have purchased Bitcoin knowing the price volatility, a sudden decline that we can experience may cause panic in them. Therefore, the price will have to remain at least between 30 thousand dollars and 40 thousand dollars.
- During this rise, altcoins were still unable to gain a stronger breakout. We must see a powerful movement that will be reflected in all of them. Most importantly, Ethereum. Although it broke a new record, it is far from its 2017 level of 0.12 BTC. For example, Etherium price for today should be at least 3 thousand dollars. I don't think we will see a new record in Bitcoin without this fact.
- With the distribution of the support package to the people in the USA, we will experience a nice rise. However, it will be the explosion of the bubble that continues to grow in technology stocks that will set us a new record in Bitcoin. Even if this causes a short-term decline, it will then allow most of the money to come to Bitcoin, a more secure asset. Then I think we will see a new all-time record. This record can even bring us to levels of 300 thousand dollars.
All of these show that better days are waiting for us in terms of cryptocurrencies. It is obvious that it is now more possible for a product with limited supply such as Bitcoin to become more dominant in the market over time. In addition, the past years have shown that Etherium will now remain a part of our life for many years, just like Bitcoin. On the cryptocurrency side, technologies such as DEFI and NFT seem to attract people's attention. In this case, it can increase the number of crypto money investors. All of these are reasons that make it easier for us to see a new ATH in Bitcoin.
Please also see my articles below. If you like my articles, following me will ensure that you read my new articles before anyone else with the notifications you will receive.