Singapore – Recently, Bitcoin reached its all-time highest value, and many sceptics have been proven wrong. Last 2017, Bitcoin rocked the market with a US$19,783 unforeseen peak and made amateurs and professionals alike take digital assets seriously. However, since Bitcoin is extremely volatile, the dream did not last long.
However, Bitcoin has increased its value from hundreds to thousands from 2008 to 2020. Despite many colossal falls, it still managed to stabilize a reasonable price that will still make investors and traders profitable. According to Finixio’s crypto trading expert Adam Grunwerg, Bitcoin will likely break the $50,000 resistance in 2021.
Despite being extremely volatile, the public will still see fluctuations as big as 20% to 30% in Bitcoin value. At the time of writing, the market trend is still clear. New bull cycles see highs and lows go higher, and Bitcoin continuously breaks its previous records and stabilize at higher prices.
Currently, Bitcoin is the new hottest commodity to speak. It behaves as a proxy for taking investment risks. Many consider Bitcoin as the new gold. It is where investors fled when they lose faith in government-backed and traditional currencies.
However, this digital asset is acting more like a leveraged stock ETF than a currency lately. Traders and investors with a high-risk tolerance can benefit from its temporary price gains. Bitcoin is very appealing among those willing to take on big risks to pursue big returns, especially over short-term periods.
As predicted, it seems that the world is currently entering the cryptocurrency and digital coin era. Many crypto enthusiasts and analysts believe that digital assets like Bitcoin will continue to rise in the next years. 2021 will be a transformative time for fintech companies, and they will not slow down. It may experience some pullbacks, but this crypto asset is something that traders should consider within their research process.