Bitcoin
BTC$68 144.21

-2.18%

Ethereum
ETH$2 432.74

-3.15%

Tether
USDT$0.999849

0.03%

Binance Coin
BNB$559.14

-2.72%

Solana
SOL$161.74

-3.59%

USD Coin
USDC$1.000206

0.03%

The Great Bitcoin Rush 2.0 here


27 Jan 2021

#Bitcoin

Although Bitcoin has been around for over a decade now, it really only gained mass recognition about three years ago. After much sideward trading and slight incremental gains, the then-obscure digital asset made headlines after shooting up almost 2000% in less than 12 months. Along with the huge price rises, its daily trading volumes similarly took off, rising from $30-40M in early 2017 to nearly $5B at the end of that same year. As we know, the Bitcoin rocket eventually ran out of fuel and crashed back to Earth in spectacular fashion. Nevertheless, the aftereffects of this first great crypto boom were groundbreaking: a new breed of asset class was born, and an entire industry sprouted up around it.

After two years of relative quiet on the crypto markets, the pandemic saw BTC blast off once again. This run has dwarfed the last, and you could be forgiven for thinking an even bigger bust is just around the corner.

However, this time things are very different. Retail investors and millennial enthusiasts aren’t driving this current growth; it’s big institutions finally adding a serious yet previously neglected asset class to their holdings. Indeed, regardless of the significantly higher price achieved in this boom, average daily trading volumes are actually quite a bit lower. That would suggest that this isn’t speculative bubble inflation, but rather sound and considered investment.

Should I sell it all and buy Bitcoin, then?


While it’s highly likely that we will see BTC up many multiples yet, it’s never wise to put all your eggs in one basket. The overwhelming consensus on Wall Street is that, yes, Bitcoin has been performing phenomenally of late and will likely continue to do so for years to come. However, it’s not some sort of magic instrument that is immune from the market’s ups and downs. When John Pierpont Morgan was asked how the market would perform over the years ahead, his immortal reply was as follows: “It will fluctuate”. When it comes to Bitcoin, this adage is especially true. And while it’s never wise to put all your money in a notoriously volatile asset, having exposure for the potential massive upside is a must.

Luckily for us, just this past month, Bitcoin has undergone a 10% correction and thus represents excellent value for new entrants to the market. Recent technical analysis predicted this kind of correction as a prelude to even more vigorous growth in the long term.

As the chart below shows, BTC has broken its rising medium-to-long term uptrend and, with this recent retracement, the stage is set for even higher highs. What’s more, many experts believe that Bitcoin could soon replace gold as an anti-inflationary safe-haven asset. With the rampant money printing going on right now, we might well see a sharp increase in BTC demand and, consequently, the coin’s value.

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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76% 40 $68 144.21 -2.18% 1.79% $1 347 686 332 613 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 88.4% 21 $2 432.74 -3.15% -1.50% $292 933 112 862 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $0.999849 0.03% 0.13% $120 558 503 347 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 90% 3 $559.14 -2.72% -4.18% $80 571 389 671 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 68% 65 $161.74 -3.59% -5.66% $76 152 698 387 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000206 0.03% 0.05% $34 881 687 500 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 92% 6 $0.500590 -2.82% -2.60% $28 467 867 628 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 60.4% 78 $0.148946 -8.26% 7.81% $21 840 127 813 DOGE 7 days price change
9 TRON (TRX) TRX TRON predictions 90% 4 $0.164096 -2.02% -1.03% $14 186 736 232 TRX 7 days price change
10 Toncoin (TON) TON Toncoin predictions 91.2% 13 $4.76 -3.35% -3.00% $12 108 039 231 TON 7 days price change
11 Cardano (ADA) ADA Cardano predictions 89.2% 7 $0.338480 -6.20% 1.96% $11 845 120 349 ADA 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 96% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 92.4% 1 $65 806.83 0.78% -2.68% $10 083 957 608 WBTC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 80.4% 29 $0.000017 -5.57% -0.81% $9 910 281 096 SHIB 7 days price change

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