Can it reach $300,000 in 2021?
As featured on Sloto Magazine
In 2008 a person or group of persons under the pseudonym ‘Satoshi Nakamoto’ invented a cryptocurrency we today call Bitcoin. At that time, it was nothing more than an experiment in programming. No one could have foreseen this playful experiment would turn into a global phenomenon, the biggest digital currency in the world.
Now in 2021, we are seeing Bitcoin boom in value and breaking everyone’s expectations. In the last weeks of 2020 and the first couple of weeks of the current year, Bitcoin’s price doubled in a dramatic fashion. Its value is under constant speculation, with some avid supports claiming it will supplant fiat currencies in the future; while skeptics retort that it will be nothing more than a market bubble. Whatever your position, it is hard to ignore its resilience and today, 13 years later after its inception, Bitcoin is starting to look like a technology that is here to stay for good.
Some financial experts, using a model that gauges the stock-to-flow ratio, estimate that Bitcoin’s value could go as high as $288,000 by the end of 2021. However, there are some challenges ahead, such as government intervention that might deter investors from betting on Bitcoin’s success.
More prudent investors claim that you have to be patient with Bitcoin; its real value will be revealed years from now. Keep some Bitcoin tucked away for a rainy day long in the future, when its price could be well over a million dollars!
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