Bitcoin is topping the news these days as this cryptocurrency continues to break records that no one thought are possible. That is the reason why thousands of people join its network with each passing day.
It is reported that the number of Bitcoin users exceeds 5 million in 2021 and that number is mesmerizing. Additionally, experts believe that Bitcoin’s popularity will continue to grow at a very fast rate.
While 2021 proved to be a revolutionary year for this cryptocurrency and many thought that it reached its peak recently, experts have stated that this is just the beginning and that Bitcoin will continue to rise and peak in the final quarter of 2021.
The value that is speculated to be the peak price of Bitcoin is $100,000, which is truly astonishing. We wanted to take a look at this case and see why experts believe that this cryptocurrency will reach a six-figure number for the first time in history.
But first, let’s check its current value.
At the moment, Bitcoin is valued between $50,000 and $60,000. As you may know, this cryptocurrency has a very high volatility rate, hence its price fluctuates each day. Bitcoin recently reached a peak value of around $63,000. The volatility rate is one of the main reasons why traders had difficulty trading with Bitcoin.
But, as the technology advanced, this process became much easier. How? These days, reputable trading sites utilize AI systems that are able to predict the future fluctuations of this cryptocurrency. In doing so, they provide traders with a powerful tool that lets them maximize their profits.
Let’s take Oil Profit as an example since this is a very reputable trading platform. After you register and use the credentials for the Oil Profit login, this trading site allows you to use its advanced AI system to maximize your revenue. This AI system collects all the data from the market. The data is analyzed and thus, the system is able to make very accurate predictions on the future fluctuations in oil prices.
Bitcoin trading sites operate similarly and help registered traders can maximize their revenue.
The daily profitability rate at many trading sites is very high, which is why thousands of people use their services each day.
Now that we know what is Bitcoin’s current value, let’s see why will it reach $100,000 by the time 2021 ends.
There are two main reasons why experts believe that Bitcoin will continue to rise and possibly reach $100,000. The first one is the massive institutional interest. After the famous $1.5 billion Tesla investment, numerous companies started following their steps and invested in Bitcoin. The increased institutional interest is a massive contributor to Bitcoin’s stability and that ultimately plays a major role in its value.
The more stable the network is, the more valuable the cryptocurrency will become. That is why after Tesla invested in Bitcoin and contributed towards its stability, Bitcoin’s price rose from $47,000 to over $50,000 in just a few days.
The second reason has halving events in the centre. Ever since Bitcoin was established, there have been 3 halving events, with the latest one being in May 2020. History showed us that Bitcoin always peaks exactly a year and a half after a halving event ends.
Following that logic, the recent peaks in value were just the beginning and the best is yet to come. Since it takes Bitcoin around one and a half years to reach its full potential, it is expected that the price will rise around autumn of this year.
It goes without saying that Bitcoin is currently the trending topic in the global financial industry.
These indicators also lead us to believe that its value will continue to rise. Not only that, but the number of new traders just keeps increasing and people are now fonder than ever to invest in this cryptocurrency. Right now, we just need to wait and see, but we have no doubt that Bitcoin has the potential to reach such a high amount.