Will Bitcoin reach $100,000 in 2021? This is the question of the year. This question, for which crypto money investors and analysts seek the answer, still remains hot. Despite the sharp declines in Bitcoin, the rises show that there is still a serious demand for purchase.
Mike McGlone, senior commodities analyst at Bloomberg, is also looking for answers to whether Bitcoin can reach $100,000 in 2021. Sharing his thoughts on the subject on Twitter, McGlone said, “5 charts such as mainstream adoption, decreasing supply, past trading trends show us that Bitcoin could potentially reach $100,000 in 2021.” said.
The analyst also shared a chart showing the relationship between Bitcoin’s decreasing supply and price.
What Risks Are Before $100,000?
First of all, the fact that there is not much discussion about whether Bitcoin can reach $100,000 in the longer term is proof that this event is considered certain to happen in the future. There are some risks ahead of us whether this will happen in 2021 or not.
At this point, depending on the economic indicators in the USA, any move by the FED that can strengthen the dollar will prolong this process. In addition, regulatory news from the USA will reduce the risk appetite in Bitcoin. Investors looking for short and medium term will need to evaluate their positions by considering these risks without getting caught in FOMO.
*Not Investment Advice.