ADVERTISEMENT
NewsLogical
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
NewsLogical
No Result
View All Result
Home Cryptocurrency

Cryptocurrency Analysts Predict 2021 Will Be A Record Year For Bitcoin & Altcoins

by Khalid Lawal
December 2, 2020
in Cryptocurrency
0
Cryptocurrency Analysts Predict 2021 Will Be A Record Year For Bitcoin & Altcoins
0
SHARES
326
VIEWS
Share on FacebookShare on Twitter

Cryptocurrencies have continued to draw wide attention and recognition from all sectors. Bitcoin has seen an upsurge in price the past few weeks, and other altcoins have followed in that line.

Now, Bitcoin had reached the $20,000 mark that some analysts predicted a few months ago when the top cryptocurrency was hovering around $10,000.

Although Bitcoin has reached this record price level in the past, something is different with this rise. The difference is the fact that the rise is also affecting other altcoins in the market. Most altcoins have appreciated, and experts are even predicting more appreciation in the future.

The value of Altcoins also on the rise.

Although Bitcoin pulled back slightly from the record $20,000, some experts predict a further push to unprecedented levels next year.

The good thing about Bitcoin’s price movement is that all other crypto coins’ prices are also rising. For instance, Ripple’s XRP has tripled since its July lows. Also, the price of Ether (ETH) is rising, as it has gained about 60% within a month.

Major players in the mainstream will soon enter the market.

According to the editor of Palm Beach Daily, Teeka Tiwari, presently, most people who buy and trade Bitcoin are still just a small fraction of those who invest in global stocks and bonds. But that will change pretty soon, as mainstream investors are gearing up to participate actively in the crypto sector.

Teeka said traditional financial institutions would soon embrace investing in crypto assets because they want to generate income from Bitcoin investments. This is what will spur the market further, making Bitcoin and other cryptos scarce. As a result, the price of cryptos will increase beyond investors’ expectations.

Tiwari continued, saying PayPal represents a perfect example of mainstream companies who have a big interest and wants to play a big role in the industry.

The payments giant’s recent move to accept Bitcoin trading for its 345 million customers last month is an indication that the firm is ready for the industry.

However, the company says a buy-and-sell roundtrip will have a 6% fee on the platform. Another “hidden fee” is known as the “spread,” which is usually the difference between the offer price and the bid price.

But according to Tiwari, some of the new mainstream entrants are simply greedy because 6% is way too much to pay as commission to trade an asset. Any exchange that charges 6% as roundtrip commission for stocks would be faced with customer backlash and regulatory scrutiny; he pointed out.

Crypto fund manager Pantera Capital also weighed-in on PayPal’s appetite for Bitcoin. He said PayPal is taking up 70% of the available Bitcoin each day. Square, another firm offering Bitcoin trading to its 22 million clients, is taking 30% of the remaining.

With these higher commissions and Bitcoin scarcity, expert analysts predict a higher value of Bitcoin and other crypto coins next year. And hedge funds, trading firms, and investors are also thinking along the same lines.

No Result
View All Result

Highlights

Ex-Goldman Sachs Executive to Be Named New SEC Chair. Will Ripple Benefit?

Bitcoin Drop: Josh Rager Reveals Two Coins He’d Hodl Largely In Long-Term

Charles Hoskinson Plans to Build Open Protocols That will Eat Apple’s Lunch

Uphold Will Continue to List XRP & Allow Trading, Unless A Court Decision Favors the SEC

VeChain Makes Big Name under Germany National Accredited Body

Ripple-backed Project Set to distribute 45 billion tokens to XRP holders


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Email: info@newslogical.com

Read More.

Dislciamer


Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

Read More.

About us

  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Team
  • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • XRP News
  • Price Analysis
  • Coin Guide
  • About
    • Team
    • Editorial Policy
    • Privacy Policy
    • Write for Us