Money attracts money: a well-known formula in the business world. Bitcoin (BTC) has yet to hit $ 20,000, but it could quickly rise to $ 65,000 benefiting from a network effect triggered by euphoric sentiment in the markets.
DeFi may have eclipsed Bitcoin over the summer, but this end of the year could well be that of BTC demonstrating that it does indeed have the potential to climb to $ 100,000 by the end of 2021.
We are waiting for new entrants
A poll posted on Twitter on November 16, 2020 by the actress Maisie Williams, attracted the attention of many supporters and opponents of Bitcoin.
The actress invited her followers to vote for or against investing in Bitcoin on the long term.
Well-known figures from the cryptosphere like Mike Novogratz, and celebrities such asElon musk, participated in the survey. 46.6% of respondents are in favor of Bitcoin.
Source : Image via Twitter
Novogratz revealed that he had just acquired Bitcoins additional. He said the network effect was about to gain momentum, with a massive influx of new buyers who could well drive the price of Bitcoin up to $ 65,000.
The year of conversion
The manager of Blockstream, Samson mow, animator Stephan Livera, and the CEO of the investment fund Digital Currency Group, Barry silbert also participated in the survey.
The asset manager of Silbert, Grayscale, had adopted an aggressive acquisition strategy of Bitcoins during the first semester of 2020.
The media showed little interest in the increase in the price of Bitcoin. The BTC has yet to spark the same media hype as it did when it climbed 3 years ago to $ 20,000.
The BTC Today is approaching $ 20,000, with final resistance to be broken at the $ 18,500 level.
This year will nevertheless have seen the turn BTC institutional investors who were previously skeptical of the value of Bitcoin. The Citibank figure in this list, it predicts a BTC to $ 318,000 by December 2021.
Part of the current bullish rally follows PayPal’s announcement to launch its crypto services. Payments giant could explode BTC adoption – even if you have to avoid getting carried away. The entry of institutional investors like MicroStrategy and Grayscale into the BTC markets, gives a long-term upside prospect for Bitcoin. Institutionals are the “cake”, individuals are “the icing” on top – rather the other way around?
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