Bitcoin

Bitcoin Will Reach $318K By The End Of 2021- Really?

By Suny Ag | My Own | 19 Apr 2021


Bitcoin is the world’s most popular cryptocurrency and has once again hit the headlines. There is new hope in the investors as the community is looking hopefully at corporate investors. This virtual currency has given strong returns so far in the last few months, and market experts believe this boom is going to continue in the coming months.

According to a leaked report by Citibank, the price of bitcoin can reach $318K by December 2021, which is currently hovering between $55-63k. In this report, Citibank predicted the Bitcoin is going to be the Gold of the 21st century. This digital currency has seen a jump of 160% from the level of $7196 on 31 December 2019. We all remember, Bitcoin reached a peak of $19,870 earlier on December 17, 2017.

In the last few years, the trend has been good and bad in form of going from one-sided to North or dipping all the way to South, but now the things are different that shows a set trend. We see a similar increase in the coming months. This shows if the present trends continue at the same rate, the price that City bank predicted can well achieve by December 2021 and the price can reach $320K.

Only time will tell whether bitcoin reaches this price, but we all expect to grow very well in the coming years especially, during the coming 12 to 24 months. People all over the world that monitor cryptocurrency prices, this boom can continue further.

The CEO of Unocoin, I am a member of this prestigious wallet and exchange right from its conception recently said, “Investors have experienced the pain of falling behind during the 2017 boom, (because of restrictions) but this time the increase in prices of cryptocurrencies is justified”. I agree with him.

 

The Corporate World should make a difference

But this is for sure the way corporate world buying crypto assets, or PayPal is offering its customers a chance to buy and sell cryptocurrencies, and DBS a leading financial services group headquartered in Singapore, that operates across 18 markets is thinking to offer cryptocurrency services to its customers, everything looks like the investors are in for something to cheer about.

All these factors are driving forces, reasonable, and sending positive vibes encouraging investors globally. And the fact this recession and the pandemic have made them blossoming further.

We all know in 2018, the cryptocurrency lost almost 70% of what these gained in 2017 when the market saw an uptrend of 1,300% or even more. The trend towards cryptocurrency is now changing all over the world. For example, in August 2020, the International Monetary Fund released a video about how crypto functions, with a neutral viewpoint.

Let me quote the equity strategist Chris Wood that said in his weekly paper Grid & Fear, that investors who do not have bitcoins should start buying now or as soon as possible. By the way, I agree with Citibank that considers Bitcoin as the new gold of this century.

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Suny Ag
Suny Ag

A marketing professional, writer, and photographer. Love traveling to distant places. I write with the same username and profile picture on other sites like Read.cash and Peakd, etc.


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I am not a writer so I write on various topics

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