The price of bitcoin could continue to set records of up to US $ 55,000 in 2021

The price of bitcoin could continue to set records of up to US $ 55,000 in 2021

Bitcoin price broke the record and entered a new level area. Quoting the coinmarketcap page, the price of bitcoin rose 1.09% to US $ 22,918 per btc, Friday (18/12) at 19.11. Within a week the position rose 28.53%.

Previously, market participants had projected a record price for bitcoin this year at US $ 20,000. Unexpectedly, bitcoin prices continued to strengthen into a new bull area.

Triv.co.id CEO Gabriel Rey observed that bitcoin investors who have invested since 2015 sold a lot of their holdings when the price was between US $ 18,000-US $ 19,000. If you look at the 2017 selling action at that time, the price was corrected by 20% -30%. However, the current bitcoin market is completely beyond expectations. "Old holders and miners sell a lot, but now everything is buying back," said Gabriel, Friday (18/12).

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As it turns out, the available supply is being bought by billionaires, hedge funds, and large institutions. The latest news, British investment company, Ruffer confirmed that has bitcoin around £ 550 million or the equivalent of 2.7% of the company's assets under management since November. This amount is equivalent to US $ 744.27 million or around 45,000 BTC.

Gabriel projects that the price of Bitcoin will continue to rise. The reason is, there is always the possibility that large investors who have realized profits will re-enter the bitcoin market again.

In addition, along with the Fed's monetary policy, which continues to press low interest rates until 2023, market players choose bitcoin as a place to place investment funds. "There are few attractive investment options, stocks are still up, gold has fallen in trend, and it seems that billionaires are diverting funds in gold into bitcoin," said Gabriel.

Until the end of 2021, Gabriel projects the price of bitcoin to be at 55,000 per btc. Gabriel suggested that investors who want to buy bitcoin should do dollar cost averaging or buy regularly instead of lump sum, aka buy a lot at once. Conversely, investors who want to sell must be disciplined on the target he sets.