Bitcoin will cost $ 180,000 by the end of 2021, says a Bloomberg expert
According to McGlone, Bitcoin will experience another large boom in 2021, which will make the cryptocurrency more expensive to around USD 180,000. He explained what factors will make BTC increase ..
The researcher additionally presented some features of bitcoin that could show that the largest cryptocurrency by market capitalization will increase in the coming year.
He points out that bitcoin's volatility is declining, even compared to usual financial exchanges. Bitcoin is turning into an advanced form of gold. One of the key factors that is changing this year is Bitcoin's declining volatility.
McGlone says that while the bullish cycle has been filled by Fear of Missing (FOMO), another can be stimulated without anyone else but by Wall Street players.
What is FOMO?
FOMO is short for Fear of Missing Out and can be translated as fear of being missed. This phenomenon (syndrome) affects especially young people but also investors. Surely you used to feel alienated when nobody was sitting with you at the desk. You can feel the same when you stop using Facebook or Instagram, as you will miss news and photos of your friends. The situation of fear also arises when you invest money in the stock market.
Strong FOMO comes often when a given asset needs to be soldand not buy. At the local peak or after bubble growth. It leads to hasty and emotional, ill-considered investment decisions that result in a loss.
And when it comes to QE (quantitative easing), we recognize that bitcoin supply is limited. The BTC market was intended for retail and is now moving into institutional discussion. Limited stock and growing interest, at full scale are generally excellent, he explained. Today, you pay USD 17,150 for 1 BTC, which is over 4 percent. On the other hand, ETH costs $ 520 (1.5%. Less than 24 hours before, but at the same time 8% more than 7 days before).
If you use decentralized exchanges, or store or transfer tokens through your wallet, it is often difficult to keep track of it all. It's even easy to forget what you have and where. However, there is a great app for storing tags on ethereum and DeFi positions and it's called Zerion. This is a great tool to record what you have in the wild token trading game and it is free and you can login with your wallet so there is no painful registration process.
Bitcoin leads the way and defines the value cycle, and its performance will drive the performance of all other cryptocurrencies. Musk's Bitcoin tweets are available to everyone in the data. Whether you are a BTC millionaire according to the Christmas Prophet or doubters expecting an imminent correction, this is a chart to watch as the price of bitcoin and ethereum depends on FOMO and when that boost passes it will be the peak of this cycle. FOMO, and we are seeing corporate FOMO now, is a powerful force, but it is sharp, not chronic, so cryptocurrencies won't flow indefinitely on the FOMO wave.
There are a lot of incredibly strong technical charts out there, so I'm holding on tight for now, but as we saw before, when Bitcoin spins from $ 30,000 to $ 40,000, these markets are fragile. Volatility may shock me soon, but it may be days or weeks, maybe months, before that happens - but a week is now a long time in cryptography, and that in itself is a signal to watch out for.
The last indicator is transaction fees. These are prohibitive now. When they start to fall, it will be a signal that FOMO is going down and for now the only way to go with transaction fees is to the sky.