Bitcoin is the currency of the future, but it’s changing fast. If you stay up-to-date with the latest news and follow the bitcoin trading signals and predictions for 2021, you will discover that it’s never too late to get in on the bitcoin game and become profitable.
We’ve seen a strong bitcoin market this past week with BTC breaking new highs on Tuesday. The $60,000 BTC level provided some good headlines and noise at the end of the day, but the reality is that the market will continue to rise in the long run.
Bitcoin (BTC) Remains A Profitable Investment
The long-term trajectory is for bitcoin to continue its rise in 2021 and beyond.
This is, of course, the area that many people pay close attention to, as the market seems to be hanging on to big rounds of significant numbers. The 64,000 mark is an area of resistance, but reports suggest that it is a good sign that we have already broken through that level, as we are likely to continue to see value hunters in that region.
Bear in mind that the recent rise has required some digestion after such a big move, so it makes a little sense that the market would have to find some kind of catalyst to move higher. If that continues to be the case, I think it would be the collapse of the $50,000 level that should worry bitcoin in general. If bitcoin still uses the $40,000 handle, it’s likely we’ll see more selling pressure. The 50-day EMA is currently at $51,000, and the trend indicates that we will continue to feel upward pressure. These big numbers will of course make for a bit more headlines, so I think the market will get a lot of attention if we make the breakthrough.
The Bitcoin Price to Continue Its Rise In 2021 And Beyond
It is very likely that we will see sustained upward pressure. In November, Digital Coin Price predicts that Bitcoin (BTC) will reach $78,000. By the end of 2021, Bitcoin could be worth as much as $98,000.
Frankly, we have seen that crypto has found a reason to rise higher, not least because the US dollar is under pressure right now and there are many concerns about inflation.
Bitcoin should not be seen as a hedge against inflation, but that is exactly what has been done in recent months, and there is no real reason to believe that it will not continue to rise.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
