Bitcoin is on fire! After racing to the US $ 15,600 today, the Millennial Generation's Idol Crypto Asset has legally grown more than 100 percent during 2020, aka year-to-date (YTD). Even Bloomberg predicts the price could be more than the US $ 35 thousand in 2021.
Based on data on Binance on a daily basis (1D), as of January 1, 2020, Bitcoin is trading in the range of US $ 6,973.06. As of November 6, 2020, today, around the US $ 15,637.92. The new asset class also grew by around 110.54 percent.
However, if it is compared to the “severe decay” on March 13, 2020, the growth is much higher, namely 281.83 percent!
With the latest record during the year, the US $ 15,637.92, the market is likely aiming for the US $ 16 thousand, a level that may seem easy, including the US $ 17 thousand.
On the other hand, the social discourse is getting stronger. Big companies are getting more and more passionate about Bitcoin. Call it Square, led by a Twitter boss, Jack Dorsey and MicroStrategy led by Michael Saylor. They are united and agree, that investing in Bitcoin is the right step to anticipate the potential for bad inflation in the future.
Meanwhile, PayPal, because they may feel the need to accommodate the middle-class business market who are fond of using crypto assets, they decided to make a direct service for buying and selling Bitcoin and several other crypto assets. This is a very wide doorway for the increased adoption of Bitcoin.
It is also likely that large banks will overtake them, as “signaled” by Singapore's DBS Bank.
US $ 35 thousand per BTC
Bloomberg Intelligence analyst Mike McGlone predicts that the price of Bitcoin can reach more than the US $ 35 thousand per BTC by 2021, compared to the price of November 3, 2020, US $ 13,700 per BTC.
As of November 5, 2020, at 11:23 am western Indonesia time, Bitcoin has climbed its latest high price this year, namely in the region of US $ 14,372 per BTC, based on data from Binance.
Bitcoin looks confident, still above the Moving Average (MA) 50, 100, and 200 on a daily scale (1D).
McGlone emphasized that, based on historical patterns after the Bitcoin Halving in 2016, the price of the top crypto asset will rise high in 2021.
McGlone also highlighted the influence of low Bitcoin volatility on the high appreciation of the Bitcoin price.
Trump or Biden are the same, Bitcoin still benefits.
Cory Klippsten from Swan Bitcoin said, whoever the president will be, the US's quantitative easing and stimulus (adding the money supply to the economy-ed) will actually benefit Bitcoin's position.
Klippsten acknowledged that the market sentiment towards Bitcoin is still very large, because the slightest decline in crypto assets, someone always buys.
Klippsten's statement referred to the actions of public companies Square and MicroStrategy investing in Bitcoin, recently.
Really Bitcoin can no longer be taken lightly because it is not a tinned asset. Let's have fun!
Who had 1000$ worth BTC or more before btc price growing now she/he got double. I hope so many people can get benefit by it. 💟