As we are moving towards the end of 2020, everyone is looking for the best investment trends for next year. Crypto investors, along with traditional investors, are considering Bitcoin as the most reliable investment for 2021. There are some key reasons for which there is so much noise about Bitcoin.
With that in mind, it’s essential to watch out for the trends in the Bitcoin ecosystem. Here are the top five trends to look for in the Bitcoin ecosystem
- Bullish Movement After the Pandemic
- Institutional Investors
- PayPal Announcement
- More Businesses to Accept Bitcoin Payments
- Experts Opinion
To know more about the Bitcoin ecosystem, keep on reading.
Bullish Movement after the Pandemic
Although there are fluctuations in Bitcoin’s price, there is a bullish trend after the pandemic. It’s for the first time it crossed the $19K level after three years. In 2017, the price of Bitcoin reached its all-time high of $19,783. After that, it has never reached even near that mark.
Bitcoin was trading at $19,500 while we were creating the content. It shows that it will cross it’s all-time high even before we enter 2021. As a result, there is a high demand for Bitcoin investment, and it will continue till the end of next year. The bullish trend attracts more investors to invest in it, and many price predictions have released, saying the uptrend will continue for next year.
Another key factor is the entry of institutional investors in the Crypto trade. More importantly, they want to invest more in Bitcoin and its derivative. As they are large investments in the Bitcoin network, it can significantly increase the price.
If you want to succeed in trading, one of the simplest ways to trade is to follow institutional money. However, sometimes they can go wrong too. So, never invest blindly; analyze carefully before investing in Bitcoin.
PayPal is one of the global payment networks. Most of the international transactions occur through its platform. Recently, it announced that it would include cryptocurrencies in its payment platform for its users.
Users can now pay in cryptocurrencies and purchase products and services through the PayPal platform. It helped in boosting Bitcoin’s price. The CEO of PayPal announced that it would integrate Bitcoin, BCH, Ethereum, Litecoin, and XRP into its platform.
Mass Adoption by Business
With PayPal’s announcement, businesses that accept payments via PayPal will accept Bitcoin. Apart from that, other businesses also want to accept Bitcoin for their services and products. As we enter into 2021, there will be mass adoption of Bitcoin and some popular crypto coins.
From small and medium businesses to large corporations, every type of business is now accepting Bitcoin as a payment option. So, there will be high demand for Bitcoin in 2021.
Last but not least, crypto experts’ opinions can also be one of the main reasons that can drive Bitcoin’s price. People who have made their mark in the Bitcoin ecosystem can influence the price. They have more experience with how Bitcoin reacts to different situations. So, it’s always best to follow legitimate experts who have expertise in Bitcoin investment.
There have been many predictions from the field of Crypto investments, claiming that the price of the Bitcoin will surge in 2021. For instance, one of the head executives of Citibanks says Bitcoin will reach $318,000 in the next year.
The above trends can help you predict what will be the value of Bitcoin next year. Although there is no certainty, having a perspective will bring confidence and authority to your decisions. You can use the blockchain technology to know the trading method and the price trend of Bitcoin. Also, you learn Bitcoin trading strategies from the platform.