What Lies Ahead of Bitcoin in 2021?
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The past year has been a wild ride for everyone in all aspects of life. The Bitcoin market exploded to new highs that even overshadowed those from 2017. After a tough 2019, Bitcoin was struggling at the beginning of 2020. However, that changed pretty quickly, and the leading cryptocurrency in the world jumped from the $4,000 are to well over $20,000.
Many experts have been preaching this for years. The 2017 bubble was just a test. This time around, Bitcoin is much more mature. The price is far more stable these days, and thanks to the widespread crypto adoption, it will undoubtedly keep growing.
And this is only the beginning. Experts are adamant that new great things will follow in 2021 beyond, which may make BTC more valuable than other royalties.
What’s on the Horizon?
2021 is already shaping up to be a great year for Bitcoin and cryptocurrencies in general. We’ll remember 2020 as the year when numerous industries had a breakout thanks to the cryptocurrency. Bitcoin casinos especially thrived, attracting thousands of new customers with their special Bitcoin bonuses and promotions and games. All of that should continue next year and even surpass the records hit in 2020.
Next year should also be the year when Bitcoin gets widely accepted all throughout the world. While many use it, BTC is still not accepted as widely as it should be. This improved a lot in 2020, with fintech companies and major businesses investing heavily in Bitcoin. Even PayPal joined the party, allowing its customers to buy and sell BTC.
Of course, for this to happen, a new regulatory framework will be required in most countries. The good news is that the pandemic has made many governments rethink their stance on Bitcoin, so we may expect crypto regulation to come pretty soon. As soon as cryptos are legalized, you can bet that Bitcoin’s price will grow even further.
Numerous Challenges Ahead
Of course, not everything will be rosy for Bitcoin ahead. As mentioned, there are plenty of regulatory changes to be introduced before it can be accepted into the mainstream. Plus, competition from centralized finance and Big Tech is expected too, with several banks and major tech companies working on their own digital currencies.
The continued volatility is another problem. Many experts say that Bitcoin could grow double its current size in 2020, others believe that it’s the 2017 bubble all over again. Regardless of your beliefs, it’s best to sit back and wait – 2021 might be a bumpy ride.
However, all of these challenges existed until now and Bitcoin persevered. The price is at a record point, and there’s no stopping now. The wheels of widespread BTC acceptance are already in motion, and good things for crypto will happen in 2021 and beyond.
In the midst of a pandemic, it’s been great to see Bitcoin perform so well. There’s no question that it’s the future of currencies, and that future may arrive even sooner than we think.
