The time after a global pandemic was the best for many of the cryptocurrencies. Undoubtedly, Bitcoin took the most gain with a stronger price movement in 2021.
The question is what will hold the recent bullish Bitcoin? Let’s read this Bitcoin price prediction to know more about this viral topic.
- A Study on Bitcoin
- Bitcoin Defined
- Analyzing the Price History
- Bitcoin and the Future
- Expert Predictions
- Quantitative Models and Bitcoin Price Prediction
- Mayer Multiple Approach
- Bitcoin NVT Ratio
- Exchanging Bitcoin
- Final Verdict
A Study On Bitcoin
Bitcoin Defined
Bitcoin is the most popular digital asset in the world. It was the brainchild of a pseudonymous person still not recognized by the popular media. Bitcoin turned the attention of the mass media in 2017 with its volatile price movements.
Analyzing The Price History
- In the early days, Bitcoin’s price was highly influenced by the poor system, regulations, and scamming. The asset had a volatile time in 2011 when it declined sharply after a 3200% jump. Bitcoin had price bubbles similar to traditional markets in the early days. By 2013, BTC went up to $220 from $1 in 2011.
- The year 2017 has to be a significant one for this digital currency, as it gained media attention by reaching $20,000. In 2020, after the pandemic shutdowns, Bitcoin prices moved upwards. The currency reached the $60,000 mark when top corporations in the US started to invest in the asset.
Bitcoin And The Future
- A Bitcoin bull market is expected by some of the recent analyses for many reasons. Bitcoin is trying to become a regular currency for payments. That the $1 trillion valuations are quite smaller than the top financial markets means that there are scopes to grow the currency.
- The bear case has pointed out that the digital asset reached the proper valuation with recent price growths. Hence, Bitcoin might lose some of its growth in the coming years.
Expert Predictions
- Jeremy Liew: Jeremy predicted that the digital asset will close $500,000 by the next decade. He was an active person to invest in the top names.
- Mike Novogratz: Mike is also a top name for being a hedge fund manager. He loves crypto and forecasted that Bitcoin market capitalization might cross the gold market cap, which is about $10 trillion to $11 trillion.
- Wences Casares: Wences has been into Bitcoin for years now. He said that BTC might reach the million mark by the year range of 2022 to 2027.
Quantitative Models And Bitcoin Price Prediction
Mayer Multiple Approach
This model predicts the best time to buy BTC. It takes the recent price and the 200-day daily exponential moving average (EMA). It is best when the results are below 2.4.
Bitcoin NVT Ratio
This is one of the best ways to get the future price predictions of the digital asset. NVT means Network Value to Transaction ratio. It is the PE ratio for the cryptos. A higher NVT can be seen during growth times.
Exchanging Bitcoin
Here’s the process for exchanging Bitcoin in Godex.io.
- Select the desired currency in the You Send field and BTC in the You Get field.
- Write a wallet address to start the deposit.
- After the confirmation, Godex will start the exchange.
- The transaction will be completed after the five- to 30-minute waiting time.
Final Verdict
It’s quite obvious that Bitcoin has the potential to grow, with eyes on the asset by top corporations, governments, and retail users. Also, the overwhelming majority of experts are quite optimistic about BTC’s future.
If you are interested in Bitcoin and thinking about a good platform to exchange, try the fast and reliable Godex service.
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