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Bitcoin (BTC) To Reach $400k in 2021?
It may sound like a pretty outlandish claim for anyone to assert that the Bitcoin price could hit $400,000 before the end of the year. But when such a claim comes from a reputable analytics firm, it is worth paying attention to it.
Analysts at Bloomberg Crypto in a monthly report have predicted that BTC could soar up to new highs of $400,000, and this assertion is based around the historical price reaction to Bitcoin halving.
Bloomberg Crypto observed that, according to their analysis, Bitcoin is in an identical position with the events of 2013 and 2017, which are the years preceding a Bitcoin halving event.
During those years, Bitcoin increased its value 55 times and 15 times, respectively. If history repeats itself, “to reach price extremes akin to those years in 2021, the crypto would approach $400,000, based on the regression since 2011 high.”
In other trending Bitcoin News today: “At least five countries” will accept Bitcoin as legal tender by 2022. – BitMEX CEO
Remittances, inflation, and politics: those are the three reasons why more nations could follow El Salvador’s move next year.
“If Brazil follows El Salvador’s lead in making #Bitcoin legal tender, the consequences could be huge. El Salvador is a country with a population of 6.5 million people – Brazil’s population is more than 213 million.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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