In February 2011, Bitcoin cost $1. 10 years has passed and BTC is $51,000. Having spent $100 to buy Bitcoins back then, you would have $5,100,000 today.
This could be considered one of the best investments of the 21st century, unattainable for the stock market and other assets. After such a shocking takeoff, most people consider the lost profit and regret that "the train left". But professional participants
in the financial markets may think differently.
For example, Ari Paul, CIO and co-founder of the BlockTower Capital investment company, believes that BTC can potentially generate more than 10 times profit over the next two years. He suggests that the current bull market may last until the end of 2022,
and Bitcoin by that time would be able to strengthen in the area between $100K and $400K.
Apparently, Tesla also believes in the six-figure price of Bitcoin, with the latest news that the company has officially invested $1.5 bln in Bitcoins. Moreover, it is preparing to sell its electric cars for BTC.
Visa also seems sure of the bright future of Bitcoin. The payment system is developing an API that will help banks to provide services for buying and selling cryptocurrencies to retail customers. The work is expected to be completed by the end of 2021.
Seems incredible? But who could think 10 years ago that the main cryptocurrency would rise in price by 51K times?
Given the above, the Bitcoin project looks like one whose prospects could seem inexhaustible, despite the impressive growth over the past 10 years. Looking at the chart with a logarithmic price scale, it should be noted that the ascending channel (1 and
2) has been deploying for the entire decade, and the level of $100K (3) seems to be really achievable.
This forecast represents FXOpen Markets Limited opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Markets Limited products and services or as financial advice.
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