The price of Bitcoin is about to end one of the most turbulent years in the history of humanity in style, proving that it is a store of value, and preparing to receive a 2021 with even more positivism.
For those of us who trust the fundamentals that give BTC value, it seemed quite likely that this year would be a total success. And as bad as it sounds, with the help of the pandemic the price ended up exploding.
A 2021 is looming that does not seem to change the panorama at least in the short term. However, with the arrival of vaccines, the end, in part, of the nightmare called Coronavirus is closer and closer.
We cannot claim victory yet, mass vaccination is still a few months away, so economic instability will continue to reign for a while longer.
Meanwhile, Bitcoin continues to accelerate its speed of adoption, as institutional investors find in this asset an excellent way to safeguard value.
After these great hands enter the market, a capital cushion is created that will not let the price suffer great damage; Well, they have their vision very clear set in the long term.
And this makes sense, because no matter how much we return to a new normal, the consequences of the pandemic will continue to affect us for a long period of time.
All this I think would be a topic to deal with a specific article. In the one I’m developing today, I want to talk to you about what the Bitcoin price charts tell us in a technical way, which could happen in 2021.
Bitcoin’s bull run still has a long way to go in 2021
Now if we go into the price charts. When we look at the monthly chart we realize that the bull run is just beginning, if we take into account how the previous bull cycles have behaved. As they say within the markets, history does not repeat itself, but it rhymes.
Today with a BTC price of $ 28,634.19 per unit it may seem very high. And of course it is, but keep in mind that the situation of instability continues to promote this asset, and the wave of entry of institutional investors has just begun.
It seems that everything is coming together for the largest of the cryptocurrencies to continue a bullish rally without brakes until the moon. Believe me the prices to come might surprise us all.
Bitcoin has the ground completely clear to develop with great force in this 2021, if we see what the price graph tells us. But this is always thanks to fundamental factors, and those who support the current climb tell us that the rally is just beginning.
I would like to talk about all those fundamentals in detail in this publication, but it would be too extensive.
However, I can summarize how everything is converging: institutional hungry for an extremely scarce currency, in a situation of global socioeconomic instability, generating greed at a time where the price is still low if we talk about cycles. Strong no?
For the short term you have to be cautious
Despite being extremely positive for him to come, clearly Bitcoin will have its ups and downs on the bullish path.
Especially at the current moment, with bullish momentum that has already spread for 120 days without making any healthy correction, it is increasingly likely that some kind of pullback will occur in the near future.
That pullback may be deep, perhaps a volatile crash, or a build-up. In any case, it will only be able to continue generating demand from those who take advantage of discount prices.
Nor do I think it is a good idea to sit and wait for it, less with a momentum as extremely bullish as the current one.
The best idea is, if you trust this form of money of course, take advantage of those falls to buy at better prices and accumulate for the long term.
I hope that not only is Bitcoin who is bullish in 2021, to you who are reading this publication I wish you the best in this year about to start, thank you for following us. I wish that things change for the better, and that despite the circumstances we continue to grow as the largest of cryptocurrencies does.
All our publications are informative in nature, so in no case should they be followed as investment advice.