Bitcoin breaks resistance to breaks its all-time highest record on 16th December 2020 by crossing $20k USD point. Going deeper in history the interesting fact is on 17th December 2017 Bitcoin sets all time high record, so just 1 day before completing 3 year finally Bitcoin makes bold statement. now we can surely say Bitcoin is back and trending everywhere on social media network. however, people still confuse about bitcoin and blockchain technology while investing in it.
Bitcoin after reaching $20k people started asking question will prices hit $100k USD or 1 million milestones in near future, as 100k USD means 400% and 1 million means 4900% aka 4 times and 46 times. in recent times many positive factors continue to falls in the favour on Bitcoin, as world biggest bank and payment portal already started integrating with blockchain and bitcoin. As Blockchain maintain security and privacy and it remain un-hackable for straight 3 years. However, Blockchain started new era of decentralized finance and decentralized application that help to bring back lost momentum in 2020.
When will Bitcoin Reach $100k USD?
Reaching $100k is not that easy but it could possible after 2022, as bitcoin mining become more harder as rewards already cut by half percentage. Following simple fact i.e., higher the demand higher will be the price.
Will Bitcoin Reach 1 Million?
Being fan of Bitcoin and studying blockchain technology and its future capabilities I would say 1 million will be happening, obviously not in next decade but expected before 2040. However, 1 million still hard to reach for Bitcoin, but it continues to deliver in payment space then we can see blockchain will top cross border payment processor or network. however, there are lot of option to buy in 2021 but long term, project age perspective Bitcoin still have more follower than other project.
Since 2018, following banned from two major Asian countries China and India market started facing backslash from user. as reason behind market crashing was still unknown, but in 2017 there was sudden rise in investor and market cap volumes along with high demand draws higher worth. however, blockchain keep making improvement in security and also started entering the space of business, company and payment portal. moreover, 2020 year was pretty solid year because at one-point Bitcoin was almost $3k USD and now its surged almost 5x. as there was no big upgradation in network unlike Ethereum successfully upgrade to Ethereum 2.0 for more faster network.
Pandemic hits hard to government economy and people who los their job due to lockdown. As Blockchain market still continue its dominance, as even stock market was also down during that period. In 2020, plenty of DeFi project launched and continue to crossing million of worth in their market volume. so, however people not started realizing that decentralized finance i.e., transaction without involvement of any central entity or bank. Network kindly followed governance model now started getting more response and it also offer more interest than traditional investment scheme. However, it also quite risky, people should study project before invest or enter in the liquidity pool.