Bitcoin: An Investment Safe Haven to Dominate 2021
by
Is the cryptocurrency’s rally here to stay? Find out how you can benefit from trading Bitcoin.
The world’s favorite cryptocurrency, Bitcoin, has been making waves on the financial markets recently. The reason for its return in the investment spotlight is a bullish trend that began in October.
Over the past two months, Bitcoin has increased by over $8,000 in value, peaking at $19,120 on November 24. But is the cryptocurrency’s rally here to stay? Here is how you can benefit from trading Bitcoin.
What Causes the Rally?
The last time Bitcoin reached highs close to $20,000 was in December 2017. At the time, the Chicago Board Options Exchange and the Chicago Mercantile Exchange both started trading Bitcoin.
As a result, the cryptocurrency climbed sharply on the expectation that it is finally finding acceptance on the financial markets.
The sharp increase observed in November 2020 had somewhat similar drivers. First of all, there was the greater risk appetite as the market broadly rejoiced that several vaccines will be widely available in 2021.
This can put an end to the pandemic once and for all and fuel economic growth.
In addition, PayPal recently added Bitcoin wallets. This could potentially bring millions of people into Bitcoin trading. Almost no vendors accept Cryptocurrencies as payment methods due to their high Volatility.
Thus, PayPal’s decision to open Bitcount wallets could prove revolutionary in this regard.
Long-Term Trend or Fluke?
The question on everybody’s mind is now whether Bitcoin can hold these levels, maybe reach new highs, or if it will drop again like it did in 2018-19.
According to renowned hedge-fund manager Paul Todor Jones, Bitcoin is set to do well in the coming months.
Due to the dovish monetary policy around the world, necessary to deal with the fallout from the pandemic, Jones believes traders will need an asset immune to inflation.
Bitcoin is the best candidate because it is not related to any other currency. It’s also not regulated, so it’s not subject to the policies of any central bank.
Another legendary investor, Bill Miller, also shares a similar view and is confident of Bitcoin’s success. In fact, the consensus on Wall Street seems to be that Bitcoin is due for a stellar performance.
Anthony Pompliano of Morgan Creek Digital predicts that if the demand for the cryptocurrency keeps growing, we could see Bitcoin hit $100,000 next year.
Note that Bitcoin’s value has dropped over the last few days, shedding over $2,000 in a short amount of time. Now is the key time to observe whether this is a correction after the steep climb, or a sign that investors are pulling back.
Thanks to its high volatility, Bitcoin has become one of the most interesting assets to follow in 2020. You can join millions of investors in trading Bitcoin by opening a Crypto account with SuperForex.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
The world’s favorite cryptocurrency, Bitcoin, has been making waves on the financial markets recently. The reason for its return in the investment spotlight is a bullish trend that began in October.
Over the past two months, Bitcoin has increased by over $8,000 in value, peaking at $19,120 on November 24. But is the cryptocurrency’s rally here to stay? Here is how you can benefit from trading Bitcoin.
What Causes the Rally?
The last time Bitcoin reached highs close to $20,000 was in December 2017. At the time, the Chicago Board Options Exchange and the Chicago Mercantile Exchange both started trading Bitcoin.
As a result, the cryptocurrency climbed sharply on the expectation that it is finally finding acceptance on the financial markets.
The sharp increase observed in November 2020 had somewhat similar drivers. First of all, there was the greater risk appetite as the market broadly rejoiced that several vaccines will be widely available in 2021.
This can put an end to the pandemic once and for all and fuel economic growth.
In addition, PayPal recently added Bitcoin wallets. This could potentially bring millions of people into Bitcoin trading. Almost no vendors accept Cryptocurrencies as payment methods due to their high Volatility.
Thus, PayPal’s decision to open Bitcount wallets could prove revolutionary in this regard.
Long-Term Trend or Fluke?
The question on everybody’s mind is now whether Bitcoin can hold these levels, maybe reach new highs, or if it will drop again like it did in 2018-19.
According to renowned hedge-fund manager Paul Todor Jones, Bitcoin is set to do well in the coming months.
Due to the dovish monetary policy around the world, necessary to deal with the fallout from the pandemic, Jones believes traders will need an asset immune to inflation.
Bitcoin is the best candidate because it is not related to any other currency. It’s also not regulated, so it’s not subject to the policies of any central bank.
Another legendary investor, Bill Miller, also shares a similar view and is confident of Bitcoin’s success. In fact, the consensus on Wall Street seems to be that Bitcoin is due for a stellar performance.
Anthony Pompliano of Morgan Creek Digital predicts that if the demand for the cryptocurrency keeps growing, we could see Bitcoin hit $100,000 next year.
Note that Bitcoin’s value has dropped over the last few days, shedding over $2,000 in a short amount of time. Now is the key time to observe whether this is a correction after the steep climb, or a sign that investors are pulling back.
Thanks to its high volatility, Bitcoin has become one of the most interesting assets to follow in 2020. You can join millions of investors in trading Bitcoin by opening a Crypto account with SuperForex.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
FXIFY Celebrates 1 Year Anniversary: Establishing Itself as an Industry Leader
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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