How high will bitcoin go in 2021? (press release)

If you’re one of the lucky ones that invested in bitcoin early, then you have nothing to fear. By now, you must be cashing in on the massive gains, sitting in a mansion somewhere. For new investors, though, it can be an exciting and terrifying prospect at the same time. If you fall into this subset, you must be wondering what kind of return on investment you can get at the end of the year if you purchase some now.

Let’s explore how Bitcoin’s price is expected to change during this year to help you test out the waters.

What’s the General Trend?

It’s not a question of whether Bitcoin prices will go up, but rather how high it will go. This can be determined with certainty considering a number of factors. The most compelling argument for its general uptrend has to do with its performance in the past. Just over a decade ago, it was valued at a couple of cents, but now it has risen to almost $60,000 with no indications of slowing. Sure, volatility seems to be an all-time high, but support bands at $50,000 prevent it from coming down.

Reducing Risk in These Uncertain Times

As the pandemic ushered in and completely rocked financial markets, institutional and retail investors quickly realized the need for reducing uncertainty. One of the ways they could do that was simply by diversifying their portfolios and including more secure investments.

Since Bitcoin showed no signs of slowing down, it seemed like the ideal financial asset class to hedge against inflation and devaluation in other assets. Additionally, its largely uncorrelated nature made it suitable for more investors to join in. Now, as more investors join in, like Tesla, we can be sure that its price will go up. But, by how much? If you want to start your bitcoin trading today you can invest in bitcoins through thebitcoincode.io

Inflection Point

Frankly speaking, it’s still quite difficult to discern whether or not Bitcoin will reach a milestone outlined by financial experts. But, one can expect to surpass the $100,000 mark. That’s largely accredited to the digital currency’s mainstream adoption.

You might have noticed Bitcoin ATMs popping up and companies facilitating Bitcoin transactions for their products. Soon enough, an inflection point will come where the value skyrockets once again – as it did in 2017 and 2020.

It is marked by a stark decrease in price value till its resistance band like that in April and then a sharp Bull Run. Again, it is difficult to confirm where its final value will end up. Considering how the price of Bitcoin has doubled since January, one can expect it to show a similar end result, making the price reach $120,000. But, a more conservative estimate should be kept at around $80,000.