Euro Journal

CRYPTOCURRENCY INDUSTRY IN 2021

Share on facebook
Share on twitter
Share on linkedin

A consistent climb in the price of Bitcoin in December 2020 has led it to hit new all-time highs, surpassing $20,000 per BTC, but it wasn’t always like this.

To get a feel of how bad the market was in 2018, consider the following: For the start of 2018, Bitcoin was trading at around $12,500, down from an all-time high of $19,784.06 in December 2017. That’s a loss of more than three-quarters of its value, and other digital currencies were doing much worse.” Ethereum (ETH), for example, dropped from a peak of $1,200 in January to just $92 in December 2018, before rising to over $452 by 2020.

 

True, cryptocurrencies like Bitcoin and Ethereum have shown to be extremely durable over time. The popularity of digital currencies among retail and institutional investors has risen dramatically in recent months. While many of the “cryptocurrency frenzy’s” early adopters have moved on to other projects, there are still a small number of loyal holders. Despite this, there are reasons to believe that the cryptocurrency industry will be able to fight for its survival.

Investors are once again asking: how high could digital currency soar in the future. As of December 2020, Bitcoin has increased to over $23,625 and Ethereum has risen to almost $700.2

Considering the year 2020 and 2021, the better issue may be how this place will adapt in order to continue existing in the future.

True, cryptocurrencies like Bitcoin and Ethereum have shown to be extremely durable over time. The popularity of digital currencies among retail and institutional investors has risen dramatically in recent months. While many of the “cryptocurrency frenzy’s” early adopters have moved on to other projects, there are still a small number of loyal holders. Despite this, there are reasons to believe that the cryptocurrency industry will be able to fight for its survival.

Investors are once again asking: how high could digital currency soar in the future. As of December 2020, Bitcoin has increased to over $23,625 and Ethereum has risen to almost $700.2

Considering the year 2020 and 2021, the better issue may be how this place will adapt in order to continue existing in the future.

WHAT ARE WE SURE ABOUT?

 

Although it is impossible to predict which digital currencies, if any, will see significant price gains in 2021, we can safely state that bitcoin will not vanish anytime soon. Blockchain, the technology that underpins several cryptocurrencies, has branched out far beyond the digital currency sector, and new uses are anticipated to emerge this year. Governments and regulators will continue to work on the best ways to enable and govern digital tokens.

 

CONCLUSIONS:

  • As a new asset class, Bitcoin and other cryptocurrencies have witnessed spectacular returns over the previous decade.
  • Coincidentally, the rest of the crypto market dropped as well, as Bitcoin plunged from about $20,000 to just over $3,000.
  • Bitcoin’s price has risen past $15,000 in 2019, but will the bull market last?
  • Stablecoins are gaining in popularity as well as increasing institutional interest.
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *