3 factors that could initiate the next increase in the Bitcoin Prize
3 factors that could initiate the next increase in the Bitcoin Prize
The price of Bitcoin has increased by more than 60 % since the beginning of the year. However, it has dropped by almost 30 % since the high in April. Only a few months until the end of the year, the predictions fly back and forth over the price of the asset.
One of the most popular models-stock-to-flow- BISTE BENT A Six figure by the end of December. If Bitcoin is to rise into such unseen and unimaginable (at least until recently) heights, it would have to more than double its value in a few months.
Als solcher hat der Schöpfer des Modells kürzlich skizziert einige der möglichen Reasons that could drive such an impressive increase.
Bitcoin ETF approval in the USA
One of the most discussed topics in the field of cryptocurrencies last year is whether the US stock exchange supervisory authority (SEC) (soon) will (soon) approve a stock market-traded fund that pursues the performance of Bitcoin. It became even more popular after Canada and Brazil gave the green light for such products in early 2021.
The SEC has received countless applications since 2016. She rejected almost all of them until last year, but in 2021 she has a new approach- Delay The decisions. This, Gary Genslers Notes , and the fact that numerous analysts claim that a BTC Futures-ETF could be around the corner have led to speculation that such a product could actually be approved by the end of this year.
If this actually happens, this would legitimize primary cryptocurrency in many traditional financial investors and institutes, since they are exposed to the asset by a well -regulated Bitcoin-ETF . Therefore, the effects of such a movement could actually lead to a significant increase in course of the underlying.
massive acceptance
adoption is another crucial word in this (and in the last) year. Planb touched El Salvadors Legalization of Bitcoin because the country wrote history in September when it was the first nation.
So far, the BTC usage quickly growing , at least according to El Salvador's President Nayib Bukele. Therefore, the S2F manufacturer sketched that another country, if follows this example, could drive up the price of cryptocurrency.
Even if it is not a country, a prominent name could do the same. In the past we have seen how BTC's price could fluctuate when names like Elon Musk talk about it. So if the crypto community gets a new Michael Saylor, Bitcoin could actually go up quickly.
The assumption could also be carried out by large companies such as Apple, Amazon, Google or Microsoft. A recently Fake Report claims that Walmart will enable Litecoin payments that BTC has raised in a few minutes by a few thousand dollars.
Although it turned out that it was a fake (which sank the price of Bitcoin just as quickly), you can only imagine what would happen if one of the world's greatest organizations would join the crypto train.
U -turn from China
This seems to be the most unimaginable scenario. China has been against the cryptocurrency room for almost as long as it exists. This year, however, the country has it into a completely different level by miners for digital value, which Search for trade and everything in between.
miner had to search for other houses, which temporarily had negative effects on the BTC network. Numerous centralized cryptocurrency exchanges had to hire services for Chinese users.
The most populous nation in the world, which is known for its aversion to decentralized products or widely accepted Internet units, develops its own digital central bank currency. It will work completely differently than Bitcoin, which means that the government keeps control of all transactions.
As a result, the chances of a U -turn in China seem to be low or not at all. However, it may not be needed. The USA-measured by the nominal GDP The largest country in the world-have already called It will not go the same way, which has had a positive impact on the markets.
What does the story say?
Bitcoin is currently less than $ 50,000. If it is to reach $ 100,000 by the end of December, the value would have to increase by more than 100 %. It sounds like a big task when you consider that less than three months are left.
The story has shown, however, that primary cryptocurrency is capable of such impressive increases. Exactly a year ago it was traded at $ 10,500. However, until the end of 2020 it was massive and ended the year with $ 29,000. From a percentage, this is an increase of 175% in the same period.
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