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How High Will Bitcoin Go?

Bitcoin is on another rally. The one in 2019 ended in a crash. How high will bitcoin go in 2021 and then what will happen? https://youtu.be/ckpqvarQtRU

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How High Will Bitcoin
Go?
By
www.ProfitableInvestingTips.c
om
https://profitableinvestingtips.com/profitable-
investing-tips/how-high-will-bitcoin-go
Bitcoin is on another rally. The one in 2019 ended
in a crash. How high will bitcoin go in 2021 and
then what will happen? A year ago at the start of
2020 bitcoin was valued at $7,347 and today it
has risen to $31,646. The bulk of the rally has
been since October 2020 when bitcoin sold for
just over $10,000. This is similar to 2017 when it
finished September in the $4,000 range and
nearly passed $20,000 in December. The
questions today are not only how high will bitcoin
go but how will it fall again. Bitcoin enthusiasts
need to remember that following the $20,000
peak of the cryptocurrency three years ago it
eventually fell to the $3,600 range!
https://profitableinvestingtips.com/profitable-
investing-tips/how-high-will-bitcoin-go
What Determines the Price of
Bitcoin?
https://profitableinvestingtips.com/profitable-
investing-tips/how-high-will-bitcoin-go
The Bitcoin.com site simply states that
supply and demand drive the price of
bitcoin. But, what drives demand for
bitcoin besides the belief that its price will
rise? Investopedia broadens the
explanation by noting that Bitcoin is not a
stock that produces profits or a currency
that is backed by a central bank. They list
these reasons for variation in bitcoin price.
https://profitableinvestingtips.com/profitable-
investing-tips/how-high-will-bitcoin-go
 The supply of bitcoin and market demand
for it
 The cost of producing a bitcoin through
the mining process
 The rewards issued to bitcoin miners for
verifying transactions to the blockchain
 The number of competing
cryptocurrencies
 The exchanges it trades on
 Regulations governing its sale
 Its internal governance
https://profitableinvestingtips.com/profitable-
investing-tips/how-high-will-bitcoin-go
While this list gives us more
information, the crucial part for
bitcoin price is demand and the belief
that bitcoin is destined to rise in
price. Is that likely to be true or will
this rally turn out to be another
pump and dump that robs
latecomers of their money?

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How High Will Bitcoin Go?