Bitcoin continues to make history with a new historical maximum (despite not being subject to any national entity or economy, since it is fully decentralized), despite suffering ups and downs (sometimes dizzyingly), it continues its rise, as it has occurred in the first days of this year 2021, when the value of Bitcoin has exceeded the barrier of $30,000 (even on January 4, reaching $35,000).

Bitcoin’s uptrend

Some analysts indicate that the upward trend is due to reminiscences of MicroStrategy’s accumulation of Bitcoin, possibly fueled by institutional buy orders and by coin holders, prompting large buyers to be the catalyst for the rise. The price of Bitcoin exceeds the price of 31,000 dollars, which leads to a new all-time high in the price of the cryptocurrency.

What Makes Bitcoin More Attractive?

In addition to the characteristics that differentiate it from other cryptocurrencies, for example, in the past, its attractiveness to the market began when it exceeded its maximum historical price. When the price hovered around $4,000, the risk of falling was very significant, combined with great uncertainty about the medium-term prices of BTC. Then, when it hit $20,000 in early December 2019, the cryptocurrency became more interesting for investors. A popular narrative indicates that bitcoin prices could rise in the short term; the prediction is that institutions may not have bought BTC in December due to possible accounting problems. In this sense, some analysts estimate that more institutions could make the leap towards Bitcoin in the current year 2021.

How far will the price of BTC go?

What do people think about the future price of bitcoin? What is the projection? The Stock/Flow model popularized by planB is frequently used to make BTC price predictions. This is a model that emphasizes the shortage of Bitcoin, giving importance to supply and halvings. The prediction process makes use of graphs under the premise that history always repeats itself, however, it must be taken into account that Bitcoin is very volatile, so fluctuations may be constant over time. Nevertheless, it is evident that the reputation and support of this cryptocurrency continue to grow and Bitcoin continues to make history.

What do you think about this topic? Do you think the upward trend of Bitcoin will continue?

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Image by geralt via under creative commons license.

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