Predictions Point to Bitcoin Could Quadruple In 2021 Similar to the 2017 Parabolic Rally

Nachrichtenquelle: PR Newswire (engl.)
17.02.2021, 14:30  |  291   |   |   

- Financialnewsmedia.com News Commentary

PALM BEACH, Fla., Feb. 17, 2021 /PRNewswire/ -- Bitcoin was created in 2009 as the first decentralized currency to run on Blockchain technology. It has become notorious for price swings that often make news headlines and grab the attention of financial traders. It has also led to the creation of other digital currency such as Ethereum, Ripple XRP and Litecoin. Bitcoin even has other cryptocurrencies that were created when nodes chose not to upgrade to the latest protocol, creating a new currency out of Bitcoin's old protocols, such as Bitcoin Cash ABC. Despite Bitcoin being well known amongst traders for its price swings, many believe that this leading digital currency is here to stay. While some experts in the field see problems ahead with Bitcoin, while others still see the future as rosy as its past performances… with even higher projections. One such industry expert has predicted that Bitcoin's near 300% surge in 2020 could be followed up by an even stronger performance in 2021, according to Fundstrat's Tom Lee.  Fundstrat Global Advisors is an independent research boutique, serving a broad array of clients, including institutional investors, wealth advisors, pension funds and high net worth individuals. Thomas Lee is a Managing Partner and the Head of Research at Fundstrat Global Advisors. He is an accomplished Wall Street strategist with over 25 years of experience in equity research, and has been top ranked by Institutional Investor every year since 1998 Active companies with recent developments in the Tech Industry include: Riot Blockchain, Inc. (NASDAQ: RIOT), Hello Pal International Inc. (OTCQB: HLLPF) (CSE: HP), Mogo, Inc. (NASDAQ: MOGO) (TSX: MOGO), Marathon Patent Group, Inc. (NASDAQ: MARA), HIVE Blockchain Technologies Ltd. (OTCQX: HVBTF) (TSX-V: HIVE).

According to an article in Markets Insider, Lee has recently also said t bitcoin could quadruple in 2021 as the crypto asset experiences a similar parabolic setup that occurred in 2017. "2021 is going to be a lot like 2017 which means bitcoin should do even better in 2021 than it did in 2020, so something above 300%," Lee told CNBC.   Following a strong 2020 that saw Bitcoin march to all-time highs for a gain of around 300%, 2021 could be even stronger. That's according to Fundstrat's Tom Lee, who recently said in an interview with CNBC that he sees bitcoin surging another 300% next year." At its current price of about $29,000, a quadruple in bitcoin would put the crypto asset well above the $100,000 mark at $116,000.  Driving bitcoin higher would be a similar setup to what was seen in 2017: a parabolic rally. Lee tweeted that the halvening of 2020 makes this year most similar to 2016, which also experienced a halvening. A halvening in bitcoin is when the reward for miners completing problems on the bitcoin blockchain is cut in half. 2021 will be most like 2017 in that bitcoin will likely experience a "parabolic rise," Lee tweeted.

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Predictions Point to Bitcoin Could Quadruple In 2021 Similar to the 2017 Parabolic Rally - Financialnewsmedia.com News Commentary PALM BEACH, Fla., Feb. 17, 2021 /PRNewswire/ - Bitcoin was created in 2009 as the first decentralized currency to run on Blockchain technology. It has become notorious for price swings that often make news …

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