Why 2021 Is Set To Be Even Bigger For Bitcoin?
Many experts predict that the 2020 growth factors will continue in 2021, along with new use cases and developments.
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– Bitcoin Grew in 2020
Bitcoin is the oldest and most successful cryptocurrency. Once considered a fad, Bitcoin has shown spectacular growth over the past twelve years. 2020 was an excellent year for Bitcoin; the currency eclipsed record highs several times and reached a new all-time Bitcoin price.
- • The 2020 Bitcoin price at year-end was about $22,000 after rising to $24,000 on some leading exchanges.
- • Support grew in the mainstream investment community and from leading investors.
- • In 2020, Bitcoin and other cryptocurrencies had $560 billion in market capitalization.
– Adoption Is a Key
Many experts view adoption as a driver of sustained growth for cryptocurrency. Stock trading based on crypto products has grown and will likely continue to grow. This edge case can grow into mainstream trading products in the stock markets. Commenters have described the below-listed items as evidence of greater adoption.
- • Square offers Bitcoin
- • PayPal provides Bitcoin options to customers and payment using cryptocurrency
- • Bitcoin gained 90 percent in 2019 and 170 percent through mid-December 2020
- • Ethereum gained 300 percent in 2020 on increased use cases like DeFi projects.
– 2021 May Be Bigger than 2020
2021 may show more incredible Bitcoin growth as adoption expands for Bitcoin and other leading currencies. The US government may issue favorable regulations, and Facebook plans to develop crypto assets. In the economic recovery, Bitcoin may offer more excellent value than cash or traditional investments.
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