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Triumph of 2020 and forecast for 2021 – Bitcoin

DATE OF PUBLICATION: 2020-12-25 17:22:25 Hello crypto hamsters and seasoned crypto enthusiasts! The year 2020 is coming to an end, it was not an easy one, the world is faced with the COVID-19 pandemic, recession, unemployment and the global economic crisis, but all this has only tempered digital assets. The crypto market got into the financial flow of institutional investors who redefined the risks of digital assets, with the current financial system, which turned out to be not so stable to the effects of global economic problems. After the spring crash, reports of large investments in Bitcoin began to appear in financial markets. Initially, many funds hid this information, only a few officially announced such an extraordinary step, but as soon as Bitcoin crossed the $ 20,000 milestone, many revealed their cards. About such giants as MicroStrategy – 70,470 BTC (approximately $ 1.125 billion) and Grayscale Investments, under whose management there are crypto assets worth $ 13 billion, we have known for a long time. From the fresh information, there was an official announcement that the $ 27 billion investment company Ruffer Investment has acquired $ 740 million worth of Bitcoin. “Bitcoin diversifies Ruffer’s portfolio investments in gold and inflation-linked bonds and acts as a hedge against certain risks that we see in fragile the monetary system and twisted financial markets, “Ruffer Investment said in a statement. MassMutual, an insurance company from the United States, which manages $ 235 billion in assets, announces a $ 100 million investment in Bitcoin, with the investment likely to increase in the near future. American Express giant went even further, he invested in cryptocurrency company FalconX, which develops trading software for institutional investors, that is, preparations are underway for even more cash injections into crypto assets. In turn, the financial holding JPMorgan Chase & Co shared information with Bloomberg that family capital managers Alami pension funds and other large investors can send up to $ 600 billion in Bitcoin. The well-known founder of Tesla and SpaceX Elon Musk just recently asked the head of MicroStrategy Michael Saylor if transactions for $ 100 billion in the Bitcoin network are possible. In response to Musk’s question, CEO of MicroStrategy said he was ready to share the contacts of counterparties. While you are sitting on the couch and talking about the risks associated with cryptoassets, large investors have already entered the market. Following from the latest statements, the entry was made even before the breakdown of the historic high. The estimated entry area is $ 10,000 – $ 16,000 per 1 BTC. It is worth completing 2020 with a comparative analysis: What would happen if at the beginning of the year you invested $ 1000? Bitcoin -> +2340 usd (your deposit = 3340 usd) -> +750 usd (your deposit = 1750 usd) Apple Inc -> +700 usd (your deposit = 1700 usd) Silver -> +400 usd (your deposit = 1400 usd) Microsoft -> +370 usd (Your deposit = 1370 usd) Facebook -> +300 usd (Your deposit = 1300 usd) Google -> +290 usd (Your deposit = 1290 usd) Gold -> +220 usd (Your deposit = 1220 usd) Nasdaq -> +180 usd (your deposit = 1180 usd) S&P 500 -> +140 usd (your deposit = 1140 usd) Dow Jones -> +40 usd (your deposit = 1040 usd) * The calculation of income is approximate, maybe a little deviate +/- Prospects and expectations for 2021 Bitcoin is confidently holding positions above $ 24,000, which cannot but please traders. 2021 expects to be bullish, the cryptocurrency industry will continue to increase volume from institutional players, which will play positively on the Bitcoin-a rate. Following from market expectations, the first cryptocurrency can easily reach $ 30,000 at the beginning of next year. The growth driver, as before, will be the cryptocurrency hype, which this time is not assessed by market participants as a kind of bubble. MicroStrategy Director Michael Sailor believes that the outflow of money from the fiat sector to Bitcoin is not a bubble, but a chain reaction caused by the global devaluation of currencies social and political uncertainty. Sailor stressed that due to the constant funding of COVID-19, countries are issuing a large number of paper banknotes, this is causing a surge in inflation. The head of MicroStrategy is convinced that the trend in the crypto market will not end any time soon. From space forecasts, the head of the company. Guggenheim Partners Scott Minerd said in an interview with Bloomberg that Bitcoin could very well jump to the $ 400,000 mark. “Bitcoin has many attributes of gold and at the same time has extraordinary value in terms of transactions,” said Scott Minerd Everything would be fine if managed Guggenheim Partners did not find assets worth $ 270 billion. such a market giant can be partially listened to. Of the news of 2021 driving the crypto industry, it is worth highlighting the announcement of S&P Global Inc to launch cryptocurrency indices next year. “As digital assets such as cryptocurrencies become a fast-growing asset class, it is time for independent, reliable and user-friendly benchmarks, “said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indexes. A step towards the crypto industry with one of the world’s most renowned index providers could generate additional investor interest, which will positively impact the value of the first cryptocurrency. Traditionally, it is worth recalling, do not forget to skim the cream off your profitable positions from time to time, and during corrections to regroup the trading forces of the deposit. General background of the crypto market Analyzing the total market capitalization of the cryptoindustry, you can see that the Total market gained more than $ 110 billion in weight from our after days of the article and at the moment Total is ~ $ 666 billion. The absolute maximum of the crypto market from January 2018 is still not broken, but with the current trends we will soon see a milestone of $ 1 trillion. The index of emotions (aka fear and euphoria) of the crypto market is at the FOMO * (Lost Profit Syndrome *) level – 94 points. This suggests that the market is in a high degree of bullish sentiment. Indicator analysis Analyzing different sectors of time frames (TF), it is clear that the indicators of technical instruments on the periods of four hours, daily and weekly signal a buy, which corresponds to the general mood of the crypto market. Material provided by InstaForex Company – Source – InstaForex

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