Bitcoin has reached yet another milestone this year and hits the $25,000 mark. It reached $20,000 almost a week ago on 16th December and after wandering above that line for a brief time, it is all set to gain further momentum during the holiday season this year. Back in 2017, Bitcoin almost made it up to $20,000, but that growth was quite steep as a result of FOMO. It went from $900 to $20,000. This has not been the case in 2020. The growth in the bitcoin price was quite gradual this year over the time period of 6-7 months. Bitcoin Breaks Down Hurdles by Hitting the $25k Mark With Bitcoin’s value reaching the $25,000 mark, it has broken down significant hurdles and has opened the doors for more investments in the crypto space. Tesla’s CEO Elon Musk recently inquired about changing large transactions of Tesla Inc.’s balance sheet to Bitcoin. This, along with the altered stance on Bitcoin by major financial institutions like JP Morgan Chase, has been one of the reasons why the price of Bitcoin has skyrocketed in recent months. Can BTC Reach $100,000 by the end of 2021? Now that Bitcoin has reached the $25,000 target, it has brought to light other predictions and among them, one of the most significant ones is that it will get to $100,000 over the course of 2021. On one edition of The Breakdown’s Long Reads Sunday, they read out a piece by Hong Fang, CEO of OKCoin. Fang has explained many possible scenarios and models that can cause Bitcoin to reach $100,000 by the end of 2021. Bitcoin’s value has almost doubled over the past few months. This comes after the tradings, and institutional investments increased rapidly during the 2020 Corona outbreak. Seamus Donoghue, METACO’s VP of sales and business development, has said cryptocurrency regulations impacted the industry to a great extent. The first-ever cryptocurrency Bitcoin is all set to reach new records in 2021.
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