Bitcoin has jumped to record highs since the start of 2021, reaching an all-time high in the third week of February, to $ 55,000. Despite this historic rise, experts expect more.
Experts expect the price of Bitcoin to double before the end of this year nearly. Last January, the agency “Sputnik” interviewed Russian experts in the field of bitcoin on the birthday of the most famous cryptocurrency in the world, and experts expected the price of the currency to reach 100 thousand dollars.
“I expect that Bitcoin indices in 2021 will reach levels much higher than current levels,” said Yuri Priebatchkin, president of the Russian Society of Crypto Economic, Artificial Intelligence Blockchain.
He continued: “According to positive expectations, the cost of Bitcoin will exceed 65-75 thousand dollars in the third quarter of 2021.”
He added, “In the event of a negative scenario, the currency’s price will range between 10-25 thousand, with this price being exceeded for a short period to grow in 2022-2023.”
Yakov Barinsky, head of the cryptocurrency investment fund, said it is likely that the price of Bitcoin will rise to $ 100,000 in 2021.
Likewise, Yuri Mazur, head of the data analysis department at Brooker, said: “The positive scenario is that the price will rise to $ 90,000 at the end of 2021, the average is $ 50,000, and the negative price will drop to $ 10,196.”
The cryptocurrency Bitcoin market capital has jumped to over a trillion dollars at an important milestone that will immortalize the currency in economic history.
The cryptocurrency, Bitcoin, ignores analysts’ warnings that it is an “economic sideways supply” and a flimsy hedge against falling stock prices.
Bitcoin’s gains have fueled indications that it is gaining traction with large investors and corporations from Tesla, MasterCard, to BNY Mellon.
Bitcoin’s rise comes after new support from Elon Musk, the world’s richest person.
The CEO of Tesla Electric Cars said that owning the cryptocurrency Bitcoin is better than possessing traditional cash, and this slight difference makes it a better asset to have.
“However, when the fiat currency has a negative real interest rate, only an idiot will not look elsewhere,” he added in a tweet.
Musk also defended Tesla’s move to invest in Bitcoin, saying the divergence from cash made it a suitable venture for an S&P 500 company to acquire the cryptocurrency.
Tesla’s purchase of 1.5 billion bitcoin pushed the cryptocurrency to record highs during the week.
And Bitcoin rose last year by 300%, and commercial transactions do not represent more than 0.3% of all transactions in cryptocurrencies, according to data from research company Chen Analyser. On the other hand, 15 thousand companies worldwide accept Bitcoin or provide automatic teller machines for cryptocurrencies, based on Vandera and Coinmap.org.
PayPal Holdings Inc., which began accepting cryptocurrency trading in October 2020, seeks about 29 million merchants on its network to and pay merchants with digital currencies.
A bitcoin millionaire investor talks about his experience with 500Pips
This millionaire preferred not to be named when he spoke about his digital investment portfolio at the 500Pips Corporation (we will call him Mr. Smith). He has traveled the world in ultra-luxury style for the past four years. It travels only first-class and resides exclusively in 5-star suites. Doesn’t that sound exciting? I’m sure you yearn to hear his success story.
His investment began in 2018 with 500Pips when a co-worker told him about the leverage he could trade in cryptocurrencies. Directly open a trading account and use the company’s leverage of up to 1: 200. After a few weeks of learning and recommendations, he decided to invest $ 3,000 in Bitcoin. And 500Pips offered him leverage of 1:800.
The guy forgot about his investment till 2013, when the BTC price started to rise. When the price hit $350, more than two thousand times what he paid for it, Smith sold 2,000 of his early stock; when the price hit $800 just days later, he sold 2,000 more. That’s when he landed with $2.3 million and decided to quit his job to travel the world.
How much has he profited from Bitcoin overall? $25 million from an initial investment of $3,000—those are the sort of returns that make a crypto millionaire. Of course, Smith still owns 1,000 BTC, which he plans to sell when the price reaches $150,000 (he thinks it will get there!)
Smith is the epitome of new money, a millennial millionaire with no reservations about flaunting his wealth.
Now he possesses more than $400 million. He has a crypto net worth of around $1 billion, and they have established himself as the leading figure in the crypto world with their cryptocurrency exchange.