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Home Bitcoin

BTC Expected To Take Off Again To Reach 20,000 miles By 2021 Fall Season

Apurwa Anand by Apurwa Anand
October 9, 2020
in Bitcoin, Crypto Trading, Market
0
PCEX Member blog

Cryptocurrencies have witnessed a significant surge in acceptance in India ever since the lifting of the bank by the Supreme Court of India incentivizing business brokers in India to encourage trading activities. With economies and power-house for blockchain and Bitcoin, China advocating blockchain use, and Japan acknowledging trade via cryptocurrencies, the bullish return is likely expected to comeback after a period of sluggishness with BTC showing a -0.19% fall, Ethereum losing -0.19%, Tether witnessing a marginal increase of 0.04%, BCH riding along at +0.16% increase. The market stands somewhat like this today at the time of writing;

BitcoinBTC10,875.82-0.19%$2,745,784,444$201,198,717,702
EthereumETH349.6164-0.61%$1,150,347,254$39,354,691,801
TetherUSDT1.000902+0.04%$85,178,159$15,637,375,026
XRPXRP0.250910-0.53%$357,005,136$11,117,475,213
Bitcoin CashBCH233.9970+0.16%$362,956,438$4,345,726,297
ChainLinkLINK9.521894+11.03%$641,404,761$3,685,064,146
Binance CoinBNB27.93395+4.25%$268,076,999$3,574,012,364
LitecoinLTC46.86100-0.93%$234,601,108$3,124,706,547
Bitcoin SVBSV166.0507+2.83%$82,565,950$3,077,836,397
CardanoADA0.095537-0.87%$97,694,200$2,831,983,148
USD CoinUSDC1.001556unch$43,144,683$2,818,861,047
EOSEOS2.596680-0.64%$315,819,579$2,468,087,932
TronTRX0.025796+2.18%$335,648,271$2,098,848,013
MoneroXMR109.6919-1.58%$145,656,988$1,939,615,010
Crypto.com ChainCRO0.150128+2.57%$49,583,198$1,598,711,612
StellarXLM0.073717+0.91%$80,149,720$1,535,474,868
TezosXTZ2.093674+2.83%$44,145,256$1,346,030,754
NEONEO17.03890+0.23%$116,046,649$1,231,243,316
CosmosATOM5.062482+7.83%$59,504,463$1,207,534,457
PolkadotDOT4.061943+10.27%$117,284,824$1,194,320,956
LEO TokenLEO1.223085+1.92%$729,000$1,193,859,872
Wrapped BitcoinWBTC10,907.51+3.09%$18,572,307$1,038,263,607
Huobi TokenHT4.623296+1.64%$26,354,010$961,620,558
DaiDAI1.010602+0.18%$2,807,032$925,582,254
NEMXEM0.118396+2.14%$14,026,237$758,840,991
Source: barchart

Nevertheless, it is going to be good days ahead for the BTC market, and the BTC price to INR will gradually increase with the anticipation that $10,900 per BTC to the dollar/INR is likely to follow in 2021. The sluggishness in the BTC is expected to continue until the breakout when the bullish market picks up, by that time BTC will reach US$11,800. Such updates have been carefully analyzed by the 9 & 20 days moving averages and investors are extremely confident of a bullish return in the Bitcoin prices by the start of 2021. 

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Why are Bitcoin Prices Expected to Rise in Coming Months? 

Bitcoin has certainly seen significant volatility from the last 3 years, where it fell to $3,000, rose to US$20,000 then again fell down to an all-time three-year low at $8,000. But the sentiments have returned with more countries participating to advocate the use of Bitcoin as a legal tender. Japan has already done the same, it is most likely that the US and South Korea will soon follow in the footsteps of Japan further improving the market cap of Bitcoin. As per the Govt Capital report, at the end of 2021, Bitcoin’s bull run will speed-up to reach almost US$19,169.44 with the adoption expected to triple by 2022. By that time, BTC will be closed for the next halving for Bitcoin miners in 2024, where the prices would have risen to  US$100,000.

Tags: Bitcoin

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