Report: Bitcoin price can hit 100K by the end of 2021

Bitcoin is the most valuable digital asset but volatile

Bitcoin (CRYPTO: BTC) was created by Satoshi Nakamoto and its ledger started on January 3, 2009. Since its inception, it has become the most valuable and popular digital asset in the world.

Bitcoin is the most valuable digital asset but volatile

2021 has been a highly volatile year for Bitcoin. In April 2021, it touched an all-time high of $ 65,000 (roughly ₹ 47.7 lakhs). In May 2021, Bitcoin prices corrected by more than 50 percent from the all-time high after Tesla (NASDAQ: TSLA) CEO Elon Musk announced that his company would no longer accept Bitcoin as a payment mode. After a few months of consolidation, it reclaimed the $ 50,000 level (roughly ₹ 36.8 lakhs).

On September 7, 2021, El Salvador became the first country to declare Bitcoin as legal tender.

Bitcoin prices may touch $100K by the end of 2021

According to a report published by Bloomberg, the price of Bitcoin is likely to approach by the end of 2021. “About $40,000 may be the Bitcoin cap a while within that we see as a resting crypto-asset bull market. No. 2 Ethereum is rapidly moving towards No. 1 market-cap status and has been a top driver of the Bloomberg Galaxy Crypto Index in 2021. Bitcoin is more likely to resume appreciating towards $100,000 resistance rather than sustaining below $20,000,” the report read.

On September 16, 2021, Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist, tweeted that he expects a “significant advance in 2021, potentially to $100,00, we believe”.

Can Bitcoin Reach $100,000 in 2021? Five Charts Show Potential - Past #Bitcoin trading trends and the crypto's declining supply vs. mainstream adoption suggest a significant advance in 2021, potentially to $100,000, we believe. pic.twitter.com/0tH7PS7QEI

— Mike McGlone (@mikemcglone11) September 16, 2021 Bitcoin’s supply cap will boost the upside movement

“The human nature of acknowledging a new asset class is what we see as a primary support in 2021,” stated Mike McGlone in Bloomberg Crypto Outlook 2021, June 2021 Edition.

The report states that the supply cap of Bitcoin will help it to become more expensive. Bitcoin supply will keep ‘halving’ every four years, and its supply will stop once its circulation supply touches 21 million coins. “The 2020 halving came amid unprecedented global fiscal and monetary stimulus, along with institutions tilting towards Bitcoin allocations,” the report added.

At the time of writing this article, 1 Bitcoin was trading at $ 42,325.10 (₹ 31,28,438.60).

from Telecom News https://ift.tt/3CU2KWH

Comments

This week in Android: It’s weird phone week

We got to play with a lot of cool tech at CES 2019 , but little was cooler than the Qualcomm Snapdragon 855 . Qualcomm had a reference device sporting the new SoC and we were able to put it through its paces , including our very own Speed Test G . The results are impressive. In other big news this week, we found out Motorola is planning on bringing back the Razr phone , made famous in the mid 2000s. We don’t know a lot about the phone itself, but we can make some guesses based on a patent from August of last year. Plus, we look ahead at the future of LG and OnePlus , including a new peculiar accessory for LG . Also, we have good news and bad news about Huawei’s security. Here are your top stories for the week 4:20 – Snapdragon 855 performance and benchmarking: Speed Test G, AnTuTu & Geekbench At CES, Gary Sims previewed the Snapdragon 855 processor in reference hardware. He had some fun with it. 21:45 – You’ll flip for the foldable Motorol...

My product launch wishlist for Instagram, Twitter, Uber and more

‘Twas the night before Xmas, and all through the house, not a feature was stirring from the designer’s mouse . . . Not Twitter! Not Uber, Not Apple or Pinterest! On Facebook! On Snapchat! On Lyft or on Insta! . . . From the sidelines I ask you to flex your code’s might. Happy Xmas to all if you make these apps right. Instagram See More Like This – A button on feed posts that when tapped inserts a burst of similar posts before the timeline continues. Want to see more fashion, sunsets, selfies, food porn, pets, or Boomerangs? Instagram’s machine vision technology and metadata would gather them from people you follow and give you a dose. You shouldn’t have to work through search, hashtags, or the Explore page, nor permanently change your feed by following new accounts. Pinterest briefly had this feature (and should bring it back) but it’d work better on Insta. Web DMs – Instagram’s messaging feature has become the defacto place for sharing memes and trash talk about peopl...

First ever drone-delivered kidney is no worse for wear

Drone delivery really only seems practical for two things: take-out and organ transplants. Both are relatively light and also extremely time sensitive. Well, experiments in flying a kidney around Baltimore in a refrigerated box have yielded positive results — which also seems promising for getting your pad thai to you in good kit. The test flights were conducted by researchers at the University of Maryland there, led by surgeon Joseph Scalea. He has been frustrated in the past with the inflexibility of air delivery systems, and felt that drones represent an obvious solution to the last-mile problem. Scalea and his colleagues modified a DJI M600 drone to carry a refrigerated box payload, and also designed a wireless biosensor for monitoring the organ while in flight. After months of waiting, their study was assigned a kidney that was healthy enough for testing but not good enough for transplant. Once it landed in Baltimore, the team loaded it into the container and had it travel 14 ...

Search This Blog