It’s safe to mention that 2020 was the biggest year for Bitcoin (BTC), Ether (ETH), and some other digital currencies in the market. Despite the March crash caused by the coronavirus pandemic, these two leading cryptocurrencies came out so strong, with Bitcoin posting more than 200 percent price growth since the year. So, 2021 is already here with lots of uncertainties. Considering some factors – to be discussed below – the crypto market might post another substantial record this year.

Watch out for This Trends

More Institutional Players:

To many prominent industry players, it’s indisputable that more corporate and institutional investors will enter the cryptocurrency market this year. Last year, MicroStrategy, a publicly-traded business intelligence company, stepped in the market, buying a substantial amount of Bitcoin that currently cost around US$1 billion. Such a bold move – which is paying off well – was followed by more companies such as Square Inc., and others.

These companies see Bitcoin as a good hedge asset against inflation. Thus, following the uncertainties in the world’s economy, more big-name companies are likely to allocate some of their reserve to Bitcoin, which is a good factor for the cryptocurrency.

Bitcoin Surpassing US$50,000

Seeing how far the leading cryptocurrency has come since the past, one can easily predict that Bitcoin might exceed US$50,000 this year. For the record, BTC made another all-time high (ATH) today above US$41,000. This is coming after the crypto’s previous ATH at US$35,000 on January 6. The demand is getting stronger, as active addresses have been on the rise. 

As we expect more corporate and institutional buys, there could be a US$50,000 priced BTC, later in 2021. 

Ether Making new ATH

The second-largest crypto is only about ten percent away from its all-time high, many many industry players are optimistically waiting for another ATH. Just like Bitcoin, Ether has gained a lot since the past, rising from below US$200 during the COVID-19-led market crash to over US$1,200 at the time of writing. 

Recently, Crypto News Australia reported that ETH supply on exchanges has been decreasing for months to Ethereum 2.0 staking, custody, and DeFi. An analyst had mentioned that such development is healthy for the cryptocurrency. Possibly, the crypto will make a new ATH if the momentum is maintained. 

Disclaimer: While this report sounds bullish for Bitcoin and Ether, it’s certainly not financial advice. Do your own research and trade cautiously.