2021 will be a bullish year for the crypto market, and millennials prefer bitcoin to gold
Expert: 2021 will definitely be bullish for cryptocurrencies
2021, according to Currency.com financial analyst Mikhail Karkhalev, will definitely be a time of growth for the cryptocurrency market. According to him, in August-September, the first cryptocurrency may grow to $80,000 or even $100,000.
The analyst also suggested that by the end of 2021, the price of BTC will be at least $65,000–70,000. “So far, everything indicates this, not only technical analysis,” but also the activity of institutional investors.
“It doesn’t matter at what moment you buy bitcoin. One way or another, there will be some profit on it. If you want to buy bitcoin, you can do it right now. If you want to wait for lower prices, you need to take into account that the fall may not take place. But if this happens, then, in my opinion, the ideal moment to buy will be in the range of $24,000–28,000, ” Karkhalev said.
Millennials prefer bitcoins to gold
The website for controlling personal finances SimpleMoneyLife published an article about the role of cryptocurrency in people’s lives. The article says that millennials will prefer BTC to investing in gold in almost 70% of cases. One of the arguments in favor of the first cryptocoin is a limit of its quantity.
“Unlike gold, we know exactly how much Bitcoin is currently in circulation and how much will be in 2050. Bitcoin is better at being scarce than gold,” article author Sean Graytok said.
The material says that the distribution of wealth in the bitcoin ecosystem is centralized. 2% of wallets control over 95% of mined BTC. 13% of coins are stored at 100 addresses, and 70% of wallets store less than 0.01 bitcoin.