Why 2021 Is Set To Be Even Bigger For Bitcoin?

Why 2021 Is Set To Be Even Bigger For Bitcoin?

08/01/2021 by Koinal
2020 was a memorable year in the cryptocurrency industry. Overall, the prices and the values of Bitcoin and a wide range of cryptocurrencies rose during 2020. The cryptocurrency community and many mainstream investment sources predict more robust growth in 2021.

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, BTC has shown spectacular growth over the past twelve years. 2020 was an excellent year for BTC; the currency eclipsed record highs several times and reached a new all-time BTC 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, BTC 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 BTC 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 BTC and other leading currencies. The US government may issue favorable regulations, and Facebook plans to develop crypto assets. In the economic recovery, BTC may offer more excellent value than cash or traditional investments. 

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