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Following bitcoin's price crash in March 2020, which saw it briefly dip below $5,000, PlanB stood by the model and its forecast that the cryptocurrency will hit $100,000 at some point in 2021.
Based on this fundamental indicator, bitcoin's scarcity is highly correlated with the value of the network.
I remember the bull market in 17 years. The biggest uncertainty is whether the country will accept it. But Bitcoin derivatives, ico coins, are all financial games. There are too many air projects and the market is extremely sensitive.
If there is a meeting to be held, it will fall sharply. In the end, it has to be a one-size-fits-all. On September 4 of that year, the regulatory document was issued. Not only did Bitcoin plummet, all ico coins were liquidated, and the trading platform was moved, closed, and the market Can be described as a river of blood.
But after this round of heavy setbacks, Bitcoin has actually started the final mad bull momentum, and rushed to the price of 2w US dollars at the end of 2017.
At this point, the Bitcoin bull market in 2016 and 2017 came to an end and entered the long bear market for the next two years, and it fell to $3,200 in early 19th.
The Bitcoin bull market that we are seeing now started with a sharp drop on March 12, 2020. It fell from $7,000 to $3,800. Since then, it has been advancing all the way, and within a year, it has risen to the current $5w. Already over 15 times.
With the current price of Bitcoin, the role of retail investors is minimal, and it has been promoted to the level of international financial institutions.
From last year Grayscale used regular channels to hold institutional funds into Bitcoin, and then to open direct purchase channels on paypal, Mircostrategy, Square and other institutions continued to increase their holdings, and even Musk’s Twitter big milk, Tesla’s $1.5 billion purchase Market, directly pushing Bitcoin to its current price.
Now you say that Bitcoin has completely disappeared. I am afraid that it is not possible anymore. When I was playing 4 years ago, I was still quite panicked.
I think the biggest uncertainty factor is still in the U.S.
The rescue plan of 190 million US dollars has been signed, and the check has just been issued. Yesterday, I collected a lot of videos from bloggers in the United States and found that prices in the United States have risen severely. The increase in meat and fruits generally exceeds 60%. Inflation is unavoidable, and the investment climate is prevailing. This part of the money issued will definitely flow into Bitcoin, pushing up the price of Bitcoin.
The biggest uncertainty factor is the early interest rate hike in the United States. Although the US Treasury Secretary Yellen again said that he would not raise interest rates last night, the 10-year Treasury bond yield continued to rise, which is an expectation of an early US interest rate hike.
Another factor is the global financial crisis triggered by the collapse of the U.S. dollar. Emerging markets must be the first to be hit hard.
Conclusion : Since last year, some people have succumbed to bad news, but it hasn’t come yet, and no one can predict when it will come. , But at least Bitcoin can still take the road of its bull market in the past six months.
Comman Questions:
Is Bitcoin likely to crash in 2021?
Bitcoin price 2021: Record-breaking run still far from peak but '90% crash and crypto winter' will follow, expert warns.
Is Bitcoin a good investment in 2021?
Investing in Bitcoin in 2021 requires several things to be considered, to be able to obtain the best possible profit for the capital invested. To some, this may seem like wasted time or just a plain redundant thing to do, but it is quite an important phase regardless of the form of investment.
Can Bitcoin crash to zero?
A 2018 report by two Yale economists places the odds of Bitcoin crashing to zero at around 0.4%. Sending the price of Bitcoin to true zero would be a monumental task and could be near-impossible.
Is it too late to buy Bitcoin 2021?
Yes, it's too late to buy Bitcoin. You should have bought it years ago.
Is it better to buy Bitcoin or ethereum?
Bitcoin is the more mainstream and stable of the two, although the bullish sentiment among experts in the field appears to have only grown over the last year for Ethereum. As with most investments, it's possible Ethereum's higher risk brings with it potential for higher rewards.