We all know BTC pumped so high during the late 2020 time, seeing the coins moving very high in price value at that time. Now the bearish have made it take its toll to low amount.
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Bitcoin has grown so much over the years. It has grown in 2020 and 2021 too. But to compare it to the dollar or whatever fiat currency of nations, I believe that bitcoin has surpassed them. Just think of this, one dollar is still one dollar of today. The one dollar we have known in the past years is the same value today. But look at bitcoin the price of one bitcoin is $40k as of today from the introducing price of $0.03 in 2009.The type of growth Bitcoin has in 2020 was, to say the least, unusual and unexpected.
Even gold was left in the dust behind it. But will it maintain or even surpass it this 2021? Many say it's because of the pandemic, others say it's whales and institutional investors.
What do you think Bitcoin will need to break the $40k resistance and soar like it did last year?
That is normal for bitcoin. Because the price of bitcoin ought to have risen more than that if not for the pandemic that fell the price in 2019. The price of bitcoin will continue to rise. But next year there might be slight fall in the priceThe type of growth Bitcoin has in 2020 was, to say the least, unusual and unexpected.
Even gold was left in the dust behind it. But will it maintain or even surpass it this 2021? Many say it's because of the pandemic, others say it's whales and institutional investors.
What do you think Bitcoin will need to break the $40k resistance and soar like it did last year?
It has already passed the forty thousand price level. It has even passed the fifty thousand price level. It went to sixty thousand price level before it went down to thirty thousand dollars this year 2021.I strongly believe Bitcoin will definitely break out of that $40,000 before mid this year, it has been creating history every year and I don't think 2021 will be an exception in terms of its price. With constant adoption from more people and investors, demand for Bitcoin will increase and price will surge higher.
When there is a serious drop in the price of cryptocurrency , I always believe it to be a pure manipulation by big influencers like Elon musk's, they are the people that indirectly controls cryptoI don't SEC has been the major cause of setback in the cryptocurrency market this year, it majorly as a result of China's crackdown and Elon Musk decision to decline bitcoin payment. The market will definitely recover.
The current dip is also what we expect to be out of it very soon because most of us we are expecting a value of most coins to continue rising but unfortunately the sharp dip came to existence.The year 2021 so far has not been disappointing for those who had invested in crypto, though there was once a dip but things have been going fine and I believe more records would be broken