Bitcoin's Rally

The new rally of Bitcoin

Bitcoin’s price keeps rising

Bitcoin is on the cusp of breaching past $20,000 this month. Moreover, some bullish analyses for Bitcoin are predicting a rally toward $100,000 by December 2021.

According to a recent report by analyst Josh Rager, Bitcoin (BTC) is about to start an exponential uptrend. In a tweet  he mentioned that «whenever Bitcoin has closed above the previous monthly all-time high,» it followed an uptrend of 700-1,000 percent. In the same way, the founders of Gemini, pointed out that BTC could reach $500,000 in the coming years because «it has the potential to outperform gold.»

Looking further, the analyst Willy Woo said “his model sees Bitcoin going up to $300,000 by December next year. The metric, Top Cap, used to deliver the forecast is experimental but has accurately matched the peak prices in the past”, cointelegraph said.

BTC/USD predictions with Top Cap extension (dotted line). Source: Willy Woo/ Twitter

Factors that have driven the growth of BTC

One of the big catalysts for the momentum of Bitcoin’s rally to rise was the famous halving, as after the latest reward halving, its status as a fantastic store of value solidified. Another determining fact was the news from Paypal about its acceptance of buying and selling through its cryptocurrency platform, being a market with more than 500 million users around the world who could see, in 2021, the possibility of using cryptocurrencies as a means of payment. 

The acceptance of digital currencies and the increase in their institutional adoption have also been one of the factors that have driven the growth of the price of BTC. Also noteworthy is that investor engagement and engagement is improving as an increasing number of large companies and billionaires acquire BTC.

In fact, one of the reasons for the rise of Bitcoin is attributed to the claims of investor Stanley Druckenmiller. The billionaire revealed in an interview for CNBC that he invests in BTC and compared the cryptocurrency as a store of value.

«Bitcoin could be a very attractive asset class as a store of value for both millennials and new West Coast money. It has been around for 13 years and with each passing day it reaps greater stability as a brand,» he explained.

To these claims, Real Vision CEO Raoul Pal responded that Druckenmiller’s endorsement should pave the way for other big names on Wall Street to want to join the world of cryptocurrencies.

Bitcoin bullish prediction

Currently Bitcoin is showing a parabolic uptrend across the charts and appears to be growing without major pullbacks. Specifically, according to the analysis of the well-known Willy Woo, the rise in BTC is only “heating up”.

In a post via Twitter, the analyst indicated the similarities between the current behavior of the metric and that of early 2017.

Meanwhile, the CEO of Real Vision, Raoul Pal and the co-founder of Gemini Exchange, Tyler Winklevoss, have stated that a new historical record will arrive, at the latest, during the first quarter of next year.

With all this, we can say that the cryptocurrency with the highest market capitalization, is not only in a consolidation process, but is also trying to go further, convincing investors of the favorable prospects.

Investing in Bitcoin in a regulated way

Investing in Bitcoin, and cryptocurrencies in general, is booming. However, there are still certain gaps: lack of a concise legal framework around this type of digital assets.

The first regulated cryptocurrency investment funds are emerging, which offers the guarantee that the vehicle is guarded, audited and under the control of an international public body.

In addition, unlike the famous and conventional «exchanges», regulated funds seek to promote transparency in cryptocurrency investment, a favorable point for investors and for the evolution of the world economic system.

Thus, BTV Fund is an investment vehicle that offers exposure to the cryptocurrency market, with a structure regulated by the EU. In addition, it allows to invest in a conventional way, solving the problems of purchase and custody and justification of the origin of the benefits obtained.

With a team of professionals specialized in the management of financial assets and the development of blockchain technology, BTV Fund gives the opportunity to diversify private capital, with the best guarantees and transparency.


Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *