It is reported that around 60% of 800 respondents in the United Kingdom are planning to purchase Bitcoin BTC in the year 2021 says Investing.com.
Bitcoin (BTC) is likely to hit £43,000 in the year 2021 with more and more people coming on board, says an analyst at major financial publication Investing.com.
A senior financial analyst called Jesse Cohen, at Investing.com, predicts that Bitcoin BTC will most likely reach the £43K level as early as the first half of the year.
According to Cohen, Bitcoin’s parabolic growth in 2021 will be fuelled by the support from big institutional investors and it will be combined with the “flush of ultra-cheap money being pumped into the global financial system” by global central banks such as the United States’ Federal Reserve.
These remarks by Cohen come after a survey was conducted by Investing.com, stating that 63% of the survery takers in the United Kingdom are planning to buy Bitcoin sometime in the year 2021. More than 60% of 800 respondents have also said that they believe that Bitcoin will surge above £43k in 2021.
Despite the growing confidence about Bitcoin’s bullish run in 2021, there are a lot of concerns about the regulatory climate that surrounds it. Cohen said “With Bitcoin moving into the mainstream and capturing greater attention, it will likely draw further scrutiny from regulators in the United States, Europe and Asia,”.
He is particularly concerned about how the United States presidential administration can impact Bicoins mass adoption.
“The path forward may not necessarily be as smooth afterwards however. I’m expecting a retracement,”
According to the survey taken by Investing.com, the majority of British who took the survey identify the new regulatory restrictions as the biggest threat to Bitcoin and crypto use in 2021.
Cohen’s prediction is by not the only one who predicts Bitcoins price reaching crazy highs this year. You also have famous and respectively followed Youtubers like MM Crypto and Moon Karl stating that we could see the price of Bitcoin reaching highs of around £100K all within the year 2021. UK Youtuber MDX Crypto which is also has a respected community following him has mentioned figures around the same price range.
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