Bitcoin is expected to depreciate early next year, which could be a lucrative investment opportunity. But there are other options
2020 has become one of the best years in the history of the crypto market. In addition to the renewal of Bitcoin's historical maximum value near $ 29 thousand and the massive arrival of institutional-level investors on the market, there were other important events. For example, the long-awaited launch of the zero phase of Ethereum 2.0 or the addition of PayPal with four cryptocurrencies at once. In addition to BTC and ETH, customers of the payment system can now buy, sell and store Litecoin and Bitcoin Cash.
Over the past 12 months, the cryptocurrency market capitalization has almost quadrupled, to $ 764 billion. The total value of all altcoins, excluding bitcoin, has grown from $ 60 billion to $ 225 billion - more than 270%. But, despite such impressive dynamics, the expectations of a continuation of the upward movement in 2021 remain.
According to the former analyst of the investment banks Bear Stearns and JPMorgan Ton Weiss, next year, according to the most conservative forecasts, the rate of the first cryptocurrency may reach $ 100 thousand, and with a favorable development of events - $ 200 thousand and even $ 300 thousand.
Bitcoin has once again shown the trust of users in cryptocurrencies and, most importantly, in the possibility of preserving and increasing capital in it, said private trader Alexander Boyarintsev. Xena Financial Systems CEO Anton Kravchenko added that after such an increase, Bitcoin is likely to decline in early 2021. Ethereum, due to strong fundamental factors, may rise in price to $ 1,000 and more.
“All DeFi projects use the ETH system to make their plans come true. In the next few years, the latest systems will appear that can change the approach, including the global banking system, fintech. Therefore, I consider the potential for the use and growth of ethereum to be great, ”Boyarintsev agreed.
The trader also recommended paying attention to Litecoin. This cryptocurrency can become an alternative to Bitcoin at the moment when most people understand the value of BTC, but at that moment its price will already be too high to enter.
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