The most curious thing about Bitcoin and cryptocurrencies is their prices. For this reason, analysts often work on the BTC price prediction. The 2021 Bitcoin price prediction constantly appears in this sense.
As you know, Bitcoin (BTC) price has gained momentum in the past few hours and broke the $ 16,000 resistance against the US dollar. The leading cryptocurrency, which remained above the 16,000 level for a short time, then declined again. At the time of writing, BTC was trading at $ 15,907, according to CoinMarketCap data.
Bitcoin has gained 2% in the last 24 hours and has climbed above the $ 15,850 resistance zone and then the $ 16,000 resistance zone. The price is currently trading well above the $ 15,500 support and the 100 hourly simple moving average, according to analyst Aayush Jindal. There is a key bullish trend line formed with support near $ 15,540 on the hourly chart of the BTC / USD pair. As long as the pair is above the 100 hourly SMA, it can stay at $ 15,850 and rise above $ 16,000.
Bitcoin Price Shows Positive Signs
In the upward direction, according to Jindal, the price attempted a break above the $ 16,000 resistance. If there is a clear break above $ 16,000, the price could rise towards the $ 16,200 and $ 16,500 levels.
So, if Bitcoin continues to increase like this, what awaits us in 2021? Analysts have different views on this issue.
“Will Bitcoin go up or down?” This question comes to mind in everyone. Because Bitcoin is notoriously volatile, it can be difficult to predict its price with any accuracy. However, analysts who are experts in their fields can generally provide satisfactory predictions on this issue.
We are in the 4th quarter of 2020. Let’s first take a look at what the rest of the year can hold in store for Bitcoin investors. Due to the coronavirus outbreak, 2020 has been a turbulent time for almost every cryptocurrency, and Bitcoin is no exception in this regard (although it is known as the leader of cryptocurrencies). When global quarantine processes began in March, financial markets fell so sharply that it was dubbed the “coronavirus collapse”.
In March, the price of Bitcoin dropped from $ 9,000 to about $ 4,000. The cryptocurrency market has recovered greatly, especially when it comes to big names like Bitcoin and Ethereum.
So what’s next for Bitcoin after such a turbulent year? John McAfee may have made a wild guess that the Bitcoin price will reach a staggering $ 1 million before the end of 2020, but most estimates are a bit more modest.
According to Cryptopolitan, one of the factors that can affect the price is the Bitcoin halving that occurred in May. Bitcoin halving is an event that occurs to control the circulation of Bitcoins and to make the cryptocurrency more scalable. After the last halving in 2016, the price of Bitcoin saw an incredible 93% increase for the rest of the year. If the cryptocurrency follows a similar pattern this time, we can reasonably see that the price of Bitcoin rises well above $ 15,000 before 2020 ends. Only time will tell how accurate this estimate is, given that we saw a significant increase during the month of October. Likewise, BTC has already exceeded the level of $ 16,000 during the day.