The bitcoin rate in 2020 showed steady growth, from January to October the value of the main cryptocurrency increased by 47% and at the moment (15.10) it is equal to $ 11,300. It managed to achieve impressive results, despite the March market crash due to the pandemic, in which the BTC rate temporarily fell to $ 5200, but immediately began to win positions back.
As for the forecasts for the price of bitcoin next year, most experts are convinced that it will grow, however, their opinions differ about the limits of growth. The management of the investment company Morgan Creek Digital believes that in the next couple of years we will see the BTC rate of $ 100,000 and above. They call the May halving the main reason for this rapid growth, after which the reward to miners has halved, along with the speed of mining new coins. Experts are also confident that the growth in the value of BTC will be affected by the steady depreciation of fiat currencies.
Another reason for the growth of the bitcoin rate in 2021 was the examples of 2013 and 2017, when the cost of the crypto-flagship significantly increased twice the next year after the halving. Analysts believe that the same “bubble” may well arise in 2021.
Experts attribute a possible deterioration in the positions of the dollar and other top fiat currencies to additional incentives for the growth of the BTC rate, which will result in an intensive increase in the number of cryptocurrency users. An important role in this can be played by the gradual recognition of the cryptocurrencies as a means of payment / exchange means by states and interstate structures.
At the same time, experts predict that in 2021, not only Bitcoin, but also other popular cryptocurrencies will see significant growth. Particularly high hopes are pinned on Ethereum 2.0, the transition to which may take place by the end of this year. They also consider very promising tokens for applications and services using the technology of decentralized finance (DeFi) – one of the main trends of 2020, which we talked about several posts earlier.