Wednesday, April 14, 2021
Home Crypto News Market Bitcoin Price Breaks Above 20,000 USD

Bitcoin Price Breaks Above 20,000 USD

Institutional investors Are Driving Bitcoin Price Or Is It Bitcoin Halving 2020 Affect.

- Advertisement -

After almost three years, the time has finally come. The Bitcoin price has broken its old all-time high and is currently above the 22,000 USD. The sharp increase was anticipated for weeks, and everyone was enthusiastic and waiting for Bitcoin to cross the 20K mark.

Bitcoin has become a recognized financial product. When the Bitcoin price corrected to as low as USD 3,000, we kept saying that it was only a short-term correction and that BTC would return to an all-time high. There’s been more than enough evidence in recent years that Bitcoin’s journey is far from over.

Private investors were unsettled by falling prices and turned their backs on bitcoin. Investors who are familiar with financial markets have taken this opportunity to invest even more in BTC.

But this year is no longer dominated by private investors, as it was in 2017. Much has happened in the meantime, and Bitcoin has become a recognized financial product.

Institutional investors are currently showing increased interest and investing billions in Bitcoin. It seems that the big players have also recognized that BTC is suitable as a hedge against inflation.

Almost daily, applications from companies are submitted to the SEC to invest in Bitcoin. And it seems that it is only the beginning. The wave of institutional investors that was long-awaited has finally arrived.

Wall Street money will slowly but surely flow into Bitcoin. Although in the start it will only be a fraction of the total volume of Wall Street, it is still sufficient to push up the BTC price.

Bitcoin Halving 2020 Affect

The history repeats itself, and after Bitcoin halving 2020, we again see an uptrend in Bitcoin price. Because of recent halving, BTC’s supply is reduced from 12.5 bitcoins per block to 6.25 bitcoins. The next few years are incredibly bullish for Bitcoin. Bitcoin’s strong demand is met by a falling supply, an economic principle, for a price increase. Even today, daily Bitcoin purchases exceed the daily production volume of new BTCs.

In 2024, There will be another halving for Bitcoin, which will result in a further shortage of supply; if the demand for Bitcoin continues to rise by that time, there will be another sharp rise in Bitcoin’s price over the next few years.

Everyone in the crypto community is happy that Bitcoin is above 20,000 USD. It’s been a challenging and stony road for BTC, but Bitcoin is a revolution and will massively turn our money system upside down over the next 50 years.

- Advertisement -
Jakkk
Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade, and write on cryptocurrencies. My basic aim is to provide genuine information to cryptocurrencies readers because crypto is filled with frauds and scams. True information is very rare to get. So I will be providing accurate information about cryptocurrencies topics, that users can trust.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Binance List the Coinbase Stock Token (COIN)

Binance will list the Coinbase Stock Token (COIN) on 2021-04-14 (UTC), during which the COIN/BUSD trading pair will be open. Users will be able...

6 Blockchain Business Use Cases You Should Know

The potential of the distributed ledger technology (DLT) — an umbrella term of which blockchain is the most popular kind — is enormous. Businesses...

Europe’s Largest Digital Asset Investment Firm CoinShares Launches XRP Exchange Traded Product (ETP)

CoinShares, a major British cryptocurrency investment company, has announced it plans to list XRP (Ripple) exchange-traded fund (ETP) on the SIX Swiss Exchange. This ETP...

Coinbase Stock Hits The Market And Gets Reference Stock Price of $250 from Nasdaq

Nasdaq has released the figures for the reference stock price of Coinbase, the largest cryptocurrency exchange in the United States, which is scheduled to...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly