Publication date: 22 Feb 2021
February 21, 2021: bitcoin breaks its record ever registered and reaches $ 58,000 per unit, which is a 2% growth. Within a week, crypto has skyrocketed by 18%. The previous record was set on February 16, 2021 when the rate was $ 50,000. Bloomberg states that the first cryptocurrency has raised its aggregate value by $ 415 bn. since New Year (within six weeks). The total value is $956 bn. now. So, Bloomberg Galaxy Crypto shows that bitcoin (and four other currencies) rates have doubled.
What is the timescale for bitcoin future growth? Prospects and forecasts.
Analysts blame speculators for this substantial volatility of the bitcoin growth as well as corporate finance operators and institutional investors. While those who advocate the crypto are pushing towards further boosting. Shane Oliver, the head of investment strategy of AMP Capital Investors Ltd., stipulates that investors are demonstrating share FOMO syndrome, which is also known as the-lost-profit syndrome, typically seen as a fear to lose a good opportunity or miss an interesting event. Therefore, in the present, the brilliant time for money making, this is the tendency which steers pursuits and intentions.
- There is an alternative! What is stablecoin? Who can skim the cream?
Elon Musk has heated up public interest in the first crypto. This month, Tesla Inc. has announced an investment equal to $1.5 bn. MicroStrategy Inc. responded immediately stretching up the limits of convertible bonds distribution to $900 million in order to buy more tokens. Then, in his Twitter-account, Musk wrote that such form of liquid property as BTC was far less stupid than cash. As for the decision of the electric car manufacturer to invest in crypto, it is not a personal attitude towards digital assets. The latest global survey on fund markets, which was conducted by Bank of America, indicates that the long-term transactions sector is the largest due to a number of active traders. Despite that, Shane Oliver from AMP assures that bitcoin market status depends on numerous outer factors, for instance state regulation, or permanent investors` attention to innovations. If such a novelty appears one day, the bitcoin rates will drop abruptly.
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