December 2020 has become one of the hottest months in the history of cryptocurrencies. But the assault on the next frontier bitcoin will have to be postponed until next year – the year of the Bull.
Tom Lee, Managing Partner of Fundstrat Global Advisor and cryptocurrency enthusiast, expects that in 2021 the rate of the first cryptocurrency will reach $ 90,000. But first, he needs to overcome $ 30,000. Despite the rapid growth in recent days, this has not been achieved by the end of the year.
Bitcoin has rewritten its all-time high several times this month. Only two weeks ago, on December 16, BTC surpassed the 2017 high by $ 20,000 and surged upward, showing a daily growth of more than $ 4,000 the next day . On December 26, Bitcoin “slipped” $ 25,000, and today, December 31, for the first time in history, it pierced $ 29,000, but the bulls did not have enough strength to continue to grow. At press time, BTC has retreated and is trading around $ 28,600.
It should not be forgotten that 2021 is the year of the bull, and cryptocurrency traders will not fail to take advantage of “support from above”. However, the year of the bull will only come after the Chinese New Year, namely February 12. Maybe on this day, today’s prices will seem ridiculous?
According to Tom Lee, the growth of the bitcoin rate will be helped by the weakening of the dollar by injections from the Fed, the further development of the cryptocurrency ecosystem and the interest in the industry from younger generations of investors. Young people will invest not in gold, but in BTC.
“I think, if you count in rounded terms, then 2021 for Bitcoin will be a lot like 2017. That is, bitcoin should perform even better than this year. So it will grow by 300 percent or even higher, ”the investor said on the air of CNBC.
At the same time, Li does not deny the possibility of a correction, as strong as in previous years. The cryptocurrency market is still too small in terms of capitalization, which means it is subject to excessive volatility. However, we see more and more public companies investing hundreds of millions of dollars in bitcoin, including MicroStrategy and SkyBridge Capital . If large pension funds and investment banks come to Bitcoin, the amount of investments will be in the billions of dollars.
