Finances

How High Can the Value of Bitcoin Rise – 2021 Guide

Img source: themorningnews.com
Written by Quentin Hack

Bitcoin is a concept that managed to take the whole world by surprise. Just think about it, there was a lot of skepticism about it at first. People simply weren’t aware of all the facts about it, and a lot of them were unaware of the concept of digital currencies for a lot of time. Also, official institutions and banks weren’t too satisfied to hear about this concept.

The reason is quite simple, we are talking about a decentralized concept that doesn’t have any higher authority above it. So, they cannot have any control over it. When you take a look at the complete world of finances, you will see that this is something that simply didn’t exist before this concept. Nowadays, we can see that BTC is the most value out of all the cryptos.

Many say that the reason for its value is it being the first one and it having the most developed blockchain system. Also, it has more trading communities than any other crypto. If you would like to visit one of these, be sure to check out bitcoin-lifestyle.app. Now, we would like to talk about the BTC’s value and how high it can go in the future. Without further ado, let’s take a look at some of the predictions.

How it All Began?

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The story of BTC starts back in 2009 when it was officially introduced to the public. As we’ve mentioned, it was a rather strange thing. The reason is that the person behind the project was a mysterious Satoshi Nakamoto. After a couple of years, it was concluded that this is not a real person and that this is a pseudonym that was invented by the BTC’s creators. Even though many developers were pointed out as the real person behind the project, none of these claims were confirmed.

It was a major reason why so many people thought about this concept as a scam. Still, over the years it has established itself as a concept that proved its worth. When you take a look at today’s situation, you will see that it isn’t as controversial as it was believed in the beginning. More and more companies adopt it as a legal method of payment. Therefore, we can see that BTC’s price has started to pick up and why is it at the level it is today.

Other Major Players

For quite a long time, BTC was the only significant crypto on the market. However, we can see that the number of key players has increased over the years. We are talking about cryptos like Ethereum and Cardano. When you take a look at the market cap of these two, you will see why they are so crucial for the further development of the market. We can see that the emerging of so many cryptos has improved the image of the concept as a whole.

BTC’s Current Value

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When you take a look at BTC’s value history, you will see that it had quite a few ups and downs. According to the definition of the concept, it is clear that its value is susceptible to frequent fluctuations because of market movements. Still, we can see that some influences are not made only by the market changes. For instance, we can see that Twitter posts done by Elon Musk had a significant influence on the value.

Sure, these posts weren’t significant on their own. They stated that Mr. Musk’s company, Tesla, will either accept BTC as a method of payment or not. Since we are talking about one of the richest persons in the world, his companies have a major say on the future of the concept. After a lot of strange factors, we can see that he is on good terms with BTC since Tesla’ accepted it as a method of payment.

Currently, the price dancing around $50,000. It needs to be said that this is not the highest value BTC has had, because back in May 2021, the value touched $62,000. For this reason, it became obvious that this is the next landmark the value needs to cross to set a new record in value. When you take a look at some predictions made by experts, this may happen shortly.

What About Predictions?

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As you can presume, the value of cryptos is always an interesting topic to discuss. Therefore, we can see that finding credible ones is quite a hard thing to do. According to some recently done predictions, some experts believe that BTC’s value will reach $100,000 by the end of the year. At the same time, many of them believe that this prediction is too bold. Instead, they advocate the situation where the value will be around $60,000.

When you consider all the factors, you will see that predicting these results is not something that comes as easy as many people believe it is. Remember, not all Bitcoins are mined as of today. There are roughly a million and a half of them left. For this reason, it is quite hard to predict how the value will rise in the future. Still, pretty much all experts agree that when the complete amount is mined, the price will become much more stable.

That’s why these experts perceive the current situation to be perfect for investing in digital currencies. If you ask us, we believe this is a statement that is supported by a plethora of different facts. So, there is no doubt this is the best moment for traders to participate in the market. In any case, we can see that all the predictions are saying that the value of this crypto will rise in the future. So, taking advantage of the situation is an absolute must.

The Bottom Line

Img source: usatoday.com

Predicting the potential of any crypto is almost impossible. It can be done when all the BTCs are successfully mined and when they enter the market. So, we will just have to wait and see what the final value will be. Here, you can see some of the most crucial steps in the past.

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Quentin Hack

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