Bitcoin has risen from a "tulip bubble" to a potential "preferred currency for global trade", according to a 108-page report of Citigroup. As its market value tops $1 tn, it has become too big an asset for the world to ignore.
In 2021 One of the things Bitcoin opposers constantly argue is that Bitcoin has limited use cases and thus "valueless". But Bitcoin is one step closer to becoming mainstream in 2020. Paypal and Visa are two of the first giant payment companies to allow customers to buy and sell Bitcoin. Tesla, a leading electric-vehicle company, announced a purchase of $1.5 billion worth of Bitcoin, and that it would consider accepting Bitcoin as payment.
Just a year ago, the ways for investors to get some exposure to Bitcoin is limited: they either buy Bitcoin from exchanges or invest in derivatives such as futures trading or options trading.
Street companies are providing pseudo-ETF to investors and investors would invest in companies that have added Bitcoin to their balance sheet. Investors' choices range from Greyscale's GBTC, MicroStrategy, or smaller mining companies including Marathon, Riot and Hut 8.Bitcoin is getting closer to mainstream with every passing day.
The prediction that Bitcoin will reach $100k by the end of 2021, and his prediction has been right on track so far.
The Bitcoin craze has cooled down a bit since the ATH of February. Cryptocurrency fund inflows declined by 59% last week. Bitcoin is trading sideways between $53,000-$60,000. $53,000 is a strong support for Bitcoin and the next one will be $50,000. If bulls fail to protect this area, we may revisit $48,000 again. But a correction below $45,000 seems unlikely as many whales buy Bitcoin at this price level.
Even at times of great volatility, you can generate profits with the help of Bexplus. And its Stop Loss & Take Profit options could help you lower the risks and lock in profits.
The U.K.'s digital currency will be used for businesses as well as households, complementing existing payment methods such as cash and deposits rather than replacing them.The central bank is yet to decide whether or not it will launch a CBDC. The purpose of the task force is to explore its use cases and determine its design. It will also keep a close eye on foreign digital currency projects to make sure that the U.K. stays ahead of the curve.
Cryptocurrency is leading the digital world and many around the globe aren't missing their chance to benefit from this financial freedom.