Beware of this when trading Bitcoin

Friday 15 January 2021, 3:48 AM AEST - 4 days ago

Looking back in retrospect, we see that bitcoin hit the markets in 2017 by reaching an unforeseen and unexpected peak of more than $19,000. This milestone made amateurs and professionals start paying attention to bitcoin and taking cryptocurrencies seriously. The last year of 2020 has equally been a wild ride for anyone watching or invested in the bitcoin market. Anyone watching the markets knows that Bitcoin traded more than 2021 by going above and beyond $23,000.

These statistics come as a shocker for anyone who saw Bitcoin drop as low as $4,000 back in early March 2020 when the pandemic (COVID-19) was at the earliest stages. Despite the tremendous price fluctuation, Bitcoin has traveled in an upward direction, which is quite a success for a currency that has been launched in the markets for only one decade. With that said, there are some exciting predictions made by fintech experts about the future of this cryptocurrency in 2021. Read on to learn more.

Source: Jamshed

More Acceptance

It has been speculated that bitcoin will find its way into the mainstream this year, 2021, to gain more acceptance with the general public. The use of bitcoin in everyday life has always been linked to the chicken-egg problem. The thing is that very few accept and use it because of very few use and accept it. With that said, despite all odds, 2020 has witnessed massive evolution in the adaptation of bitcoin. If we analyze different markets and fintech companies, we see that even Paypal has granted its users permission to buy and sell with bitcoin.

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With many fintech companies giving their users the stamp of approval, we ought to embrace the possibility that the mainstream will see bitcoin as a vital extension to buy and sell. At least one American or European bank is expected to establish a system where bitcoin purchases are enabled. Or if one of the banks allows clients to hold their digital asset ...

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