Welcome back to Crypto Lion. As you know, this is the best site to keep you up to date with news in the cryptocurrency world, as well as excellent predictions; subscribe and turn on post notifications so that you don’t miss vital information. Also, don’t forget to like the video today. We’ll be discussing the next projections for bitcoin considering recent news and price. Also, watch out for the massive warnings that I’ll be dropping as we reveal the end price of Bitcoin. This New Year started with good news for most crypto traders as Bitcoin started on a bullish run, which seems to be unending. However, this new week was the beginning of the end of the run, with Bitcoin falling from thirty thousand from what seemed to be a comfortable forty thousand position.
Just as expected, the old coins were also quick to follow in the same direction with the theory I’m falling as much as 15 percent. So what’s the next thing for Bitcoin? Well, before we talk about that, I want to sound a note of warning very quickly. First of all, Bitcoin is still as volatile as ever, and there’s a lot of misleading news out there from people who claim to be experts. Of course, there may not be an exactly accurate way to validate their claims, but risking it all to find out if the right or wrong might have devastating consequences. I’ve read about people buying Bitcoin with their credit cards or taking loans. The big warning here is that you can lose a lot of money and even end up with big debt. That’s not uncommon as the crypto space generally a lot of new faces recently. And many of these people don’t even know how it works out here. They want to invest. Once again, we have many videos thatwill educate you and keep you informed of recent news and developments. There is a lot of expectations for this new year about Bitcoin. So let’s take a look at some of the cases that are most likely going to affect Bitcoin price. The first thing is the increasing acceptance with more companies accepting Bitcoin as a method of payment, people, for instance, now accept Bitcoin, which is a very nice development.
Direction of Bitcoin
I’m sure you’d agree. Also, as I said earlier, there are even more individuals looking to invest in this period, especially when the price across a new record. So let me officially use this opportunity to welcome our new Bitcoin heirs to the world of Bitcoin. And if you’re watching this now, know that you’re in good hands. So the end of twenty saw a lot more people talking about Bitcoin. Notable is the Tesla and SpaceX CEO Elon Musk, who published a tweet inquiring about converting Tesla’s balance sheet into Bitcoin and got everybody talking about it. This is a positive direction for Bitcoin because the attention is good for the system. However, in the same way, Bitcoin has caught many governments’ attention, and there are motions for regulations.
Bitcoin has always been a challenger of the finance system, and regulators have had their eyes on it since it started gaining popularity. But due to its decentralized architecture and anonymous founding, it’s been hard for regulators to lay their hands on anything concrete. A similar situation is a recent development, with XP being sued by the SEC. There are also speculations about the incoming government regarding Bitcoin and other cryptocurrencies. Some believe that the Biden administration will favor the crypto space, while others believe it will issue strict regulations that will affect the growth of Bitcoin. Either way, we’re about to find out. So, as I said, it’s obviously going to be an eventful year for Bitcoin. We’re also expecting some worthy competition from the new digital coins this year as some central banks and tech giants are now working on their own digital coins.
Volatility of Bitcoin
Of course, we’ll keep you updated on this channel. So let’s talk about the volatility of Bitcoin. Bitcoin remains very volatile as it’s not directly linked to any real-world system like finance and policies. Therefore, it can increase in value or decrease in value in shocking manners. Some predictions have been made that by the end of twenty twenty-one, Bitcoin will assume a six-figure value. One of such predictions as Citibank’s analyst Tom Fitzpatrick predicted that by the end of twenty twenty-one, Bitcoin would trade at three hundred eighteen thousand dollars. He compared Bitcoin to gold and that the only difference is that Bitcoin enjoys fewer restrictions and gold, which makes it’s potential limitless. This six-figure prediction is becoming common, as the Winklevoss twins have also made similar predictions for the new decade. They stated that Bitcoin would attain a value above gold in the long term. And we’re looking at something around five hundred thousand dollars in the same way.
We also have people who think Bitcoin is nothing and strongly advise people against it. Some of them have made their predictions as well. And we’re going to take a look at it. Anton Walman, a columnist, thinks that Bitcoin is worthless and will soon go back to zero. He said that it’s obvious that Bitcoin and other cryptocurrencies are a case, even though he finds it hard to explain. But he strongly believes they’re absurd. This reminds me of the time bitcoins Worth was still in a sense. And sometimes, in 2010, a developer bought pizza with ten thousand bitcoins. They weren’t worth much then, but today that’s hundreds of millions and worth. Now imagine going back to such a period. Anton is not the only person with this kind of thought. Oliver Kamm, a financial contributor for theTimes UK, also said the cryptocurrency should be avoided despite the fact that people now accept Bitcoin can advise that people should rid their portfolios of cryptocurrencies.