- Global Pandemic and Bitcoin
- Crash in May 2021
- Will Bitcoin surge to $100k?
One question that is all over the internet from some time now, Will Bitcoin reach $100k in 2021?. Last year was great for Bitcoin enthusiasts. We all know the impact of the coronavirus pandemic around the globe. Despite the pandemic, a lot of people have shown their interest in cryptocurrencies.
Price of Bitcoin saw a massive spike in price from $7500 to a whopping $58,000 ( at the time of writing). This moment of Bitcoin has been crazy. Many crypto exchanges accepted that despite the price of Bitcoin rising to almost 600%, the crypto investors data also surged. In May 2021, Bitcoin price crashed which almost held for three months, but Bitcoin soon recovered that crash and touched a new all time high of $66,000 with market capitalization crossing over $ 2 trillion.
As per reports read from several crypto exchanges millions of retail investors have joined the crypto movement. But the question still remains, will Bitcoin touch $100,000 in 2021? Many analysts believe that leaving aside theshort-term corrections, Bitcoin has the ability to touch $100,000 (87500 EUR) by this year or in early 2022.
GLOBAL PANDEMIC AND BITCOIN
Last year many people showed interest in cryptocurrencies especially Bitcoin that too in the year of pandemic. Many institutional investors such as Square Inc, Tesla, Microstrategy started to preserve their assets in BTC. Other major brands that are positive towards crypto currency are Paypal, Apple.
CRASH IN MAY 2021
In May 2021 Bitcoin crashed. There were several factors responsible for this but one of them being the tweet of Elon Musk stating that Bitcoin mining has hazardous impacts on the environment of our planet. Many investors believe that this was just a correction in value due to the unprecedented rise in the price of BTC. Another major factor was China’s stance against cryptocurrencies which led to this crash.
WILL BITCOIN SURGE TO $100,000 IN 2021?
Most establishments are considering changing their money reserves into Bitcoin as a shield against money crises.
Various different cryptos have conjointly joined the race and square measure revolutionizing the world as we tend to see it nowadays. Blockchain technology and numerous crypto protocols have their utilities in numerous sectors starting from finance, marketing, and even advertising. The recent developments around Bitcoin worldwide square measure a testament to thevery fact that it’s inching closer to become the main asset. Several analysts believe that if the trend continues Bitcoin can shortly hit $100k in all probability by the end of 2021 or in the beginning of 2022.
Experts believe that there are great chances of Bitcoin touching an all time high of $100k. Without any doubt Bitcoin has over the years become one to the mainstream assets. However, we cannot predict the exact time because of the volatility of the market and the corrections that have happened in recent times.
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Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investmenting.
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