It is an undisputed fact that 2020 was an excellent year for bitcoin and other top cryptocurrencies. In the year 2020, the leading cryptocurrency reached different milestones and reached its all-time HIGH. This is a new year, and things are changing for BTC. People are expecting different things. Some people are positive, and some feel that this will be the year when bitcoin would experience a huge deep that can even send some into bankruptcy.
Bitcoin had different rallies, some positive and some negative. But the best advice for both newbies and professionals is to only trade or invest with funds you are willing to part ways with. This isn’t a sign that bitcoin will have a HUGE DEEP, but it is one of the fundamental ethics of investment or buying bitcoin in India. Bitcoin is not a get it quick scheme for every newbie, but an opportunity to make a steady profit from the digital currency price swing.
Bitcoin was just invented 12 years ago, and it started as an E-payment system used on a decentralized platform. But now, bitcoin has grown into a trading asset, an investment plan, and a currency preferred for the transaction. Despite the rise and fall in BTC, bitcoin still maintains it’s positive and has stood the test of time, showing people that it is here to stay. The main question to be answered by this article is if there would be a new high in the price of bitcoin.
Looking at bitcoin’s history, we would look far back to years when bitcoin had highs and lows. One of the years that crypto investors would always remember is 2017, bitcoin reached a peak of 19,783 dollars. This pump made pros, newbies, and even amateurs have a different mindset about bitcoin and people were willing to know how to buy bitcoin in India. Some started taking it seriously at the moment, and some still didn’t believe in this cryptocurrency.
It was however disappointing that the bull run experienced in 2017 didn’t last so long because bitcoin had a massive fall and dropped down to as low as 4,000 dollars. This fall didn’t only affect bitcoin investors; the fall also affected bitcoin’s worth and value in the world. In just a day in the year 2018, bitcoin fell by 25%. Despite the fall over the years, bitcoin is still proving to be a worth-investing option for anyone who wants to invest in the crypto.
Presently, bitcoin is currently sitting on a large scale, and expert is quite optimistic that the more the Institutional investor invest in bitcoin, the higher the probability of this cryptocurrency going higher. If we are to look at it from the contrary opinion, we should also consider the forces of demand and supply. These forces are what influence the bitcoin and cryptocurrency market in general.
While we anticipate that bitcoin will go as high as $100,000 in 2020, it can only be achieved if more people are will to invest or buy the cryptocurrency. This is because the more people demand this coin, the more the probability of seeing an increase in bitcoin price.
Looking at the situations of things today, that might not be true. But on the contrary, bitcoin can still go up, but some other expectations that bitcoin will crash might not become a reality. Cautious investors and free-willing investors are optimistic and predict increases in bitcoin prices over the next two years. This means, bitcoin will experience gain in 2021 and also, it is more likely to experience gain in 2022. This will also translate to the fact that more people will want to buy bitcoin in India.
Bitcoin is perhaps the most volatile digital asset, and anything can happen to the price of BTC in a couple of seconds. You might find the price of bitcoin sitting at 40,000 dollars today, and in less than five minutes, you might be amazed to see the price of bitcoin go up or high by a weird percentage. Investors and experts believe that bitcoin might reach the 60,000 dollars mark or even go past the hundred thousand dollars mark by the end of the year.
However, some experts are still pessimistic that bitcoin is very volatile and might still fall by 20-30 percentage. This means despite the current rate of BTC to USD, we might still see BTC to USD trade below 30,000 dollars in the year 2021 but to be optimistic and looking at it from the positive angle, bitcoin is more likely to go past the 100,000 dollars mark in the year 2021. The price of BTC in the market is currently clear because it has been having more uptrends than downtrends. And the cycle keeps going higher. This means the cycle has ensured it keeps breaking old records and stabilizing the current price to avoid drastic ups or drastic falls, even if it had a massive move in November 2020.
Those trusting BTC are top investors. Some institutional investors are also trusting the cryptocurrency while some traders are optimistic that bitcoin will do well in the year 2021. Individual investors pushed bitcoin to 19k in 2017. Therefore, the price of bitcoin can reach new highs if more institutional investors put their money in the crypto asset. Governments around the world are also planning to integrate and adopt cryptocurrency in 2020. This will also go a long way in pushing bitcoin to new heights.
When top players come into the BTC game, BTC would seem more legitimate to people. This would revolutionize the digital currency world, push people to buy bitcoin in India, and make things better. We must also not shy away from the fact that Covid affected or changed the BTC world because people are more involved in digital trades, online transactions, and e-payment. Inflation also contributed to the factor that BTC has shown that it is here to stay, and the 40k HIGH will become history because there will be more HIGHS that people did not predict. The best move is to learn how to buy bitcoin in India.
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