The year 2021 has been a good year for Bitcoin enthusiast and investors as the price of BTC has gone as high as $47K. There are a lot of speculation about Bitcoin saying it will be going up/ down but the fact remains that there will be several market corrections and this market corrections could lead to a downward movement in price but from the trend and due to a lot of factors, the coin might go up to $50k before the end of the year.
One of the biggest indicators that Bitcoin would be going up is the fact that Wall Street don't want to miss out of it, yesterday as well, Bitcoin spiked up 16% as Tesla bought into bitcoin a total of $1.5Billion as well as the accepting Bitcoin as a means of payment. Do not forget that companies like square, and PayPal already invested in Bitcoin and are accepting bitcoin. With Elon Musk's Tesla purchasing Bitcoin, a lot of other companies will start to invest in the cryptocurrency.
In the past, JP Morgan said Bitcoin was not a good security to invest in but recently, JP Morgan just said that Bitcoin can go to about $140K and as we know, one thing that moves prices of commodities and securities is news. With JP Morgan, people are willing to buy Bitcoin with the aim that the coin is a good investment. This analysis are very strong and although they are prediction but the fact that companies are jumping on board and people are adopting Bitcoin. There is a possibility that Apple will soon start adding cryptocurrency for their products but this is not certain as it has its own wallet.
if the US decides to share another stimulus check, the the crypto market will surely increase as people are trying to hedge again inflation. The government is printing out a lot of money and people are trying to invest this money in places and as we know, the stock market can go down to zero as more can be printed continuously but Bitcoin has a limited amount that can exist so people see it as a better investment.
I am not saying you should buy or not Bitcoin, I am only saying that there is a possibility that the price of the commodity could rise following the recent activities and news around it. This should not be taking as an investment advice please Do Your Own Research (DYOR).
