Will Bitcoin Hit $ 100,000 in 2021? This is the question of the year. This question, for which investors and cryptocurrency analysts seek the answer, remains a burning one. Despite the sharp declines in Bitcoin, the rises show that there is still serious buying demand.
Mike McGlone, Senior Commodity Analyst at Bloomberg, is also looking for answers on whether Bitcoin can hit $ 100,000 in 2021. Sharing his thoughts on this on Twitter, McGlone said: “5 Charts Like Widespread Adoption, Declining Supply and past trading trends show us that Bitcoin could hit $ 100,000 in 2021. ” said.
The analyst also shared a graph showing the relationship between the decreasing supply and price of Bitcoin.
What risks are there against $ 100,000?
First of all, the fact that there isn’t much discussion about whether Bitcoin can hit $ 100,000 in the long run is proof that this event is considered to happen in the future. There are some risks ahead of us, whether this happens in 2021 or not.
At this point, depending on US economic indicators, any move by the Fed that can strengthen the dollar will prolong this process. Furthermore, regulatory news from the US will reduce risk appetite in Bitcoin. Investors looking for the short and medium term should evaluate their positions considering these risks without getting caught up in FOMO.
* No investment advice.