Bitcoin has been in the news lately, as prices broke the $ 23,000 mark, a major psychological level. In this context, Coinbase CEO Brian Armstrong shared a message about the ‘Bitcoin and crypto market rally’.
The CEO praised the current rally and how news organizations covered the rise in the price of Bitcoin. However, Armstrong urged clients to understand that investing in crypto is “not without risk.”
He added that cryptocurrencies could be more volatile than traditional financial instruments. And it informed users that cryptocurrency markets could move much faster than equity markets.
He warned investors, who focused on short-term speculation, to better understand the risks associated with investing in cryptocurrencies. He encouraged clients to seek resources and even consult financial advisers, saying:
“For those who believe in the potential of cryptocurrencies, we must also believe that we are still in the early stages and that there is much more to come.”
Just yesterday, when Bitcoin surpassed $ 20,000, several Coinbase customers took to Twitter to report technical issues while using the platform.
DeVere CEO Says BTC Price Will Increase 50% and “Possibly Double” in 2021
The parabolic rise of Bitcoin is just beginning. According to Nigel Green, founder and CEO of Dubai-based financial advisory firm, deVere Group.
In an article published on Newsmax, Green boldly proclaimed that Bitcoin will have another “record year” in 2021. With prices that will skyrocket by at least 50% and “possibly double.”
He made the prediction just as Bitcoin hit a high of $ 23,000 on Thursday for the first time.
Based on current values, Green expects BTC to reach between $ 34,500 and $ 46,000 sometime next year.
While acknowledging that Bitcoin won’t go up in a straight line, Green says the influx of institutional investors will lead to a surge in consumer interest. Creating the perfect storm for price discovery.
“Some of the world’s largest institutions, including multinational payment companies and Wall Street giants, are increasingly hoarding cryptocurrency. Bringing with him his enormous experience and capital. Which in turn increases consumer interest. ‘
Green’s deVere Group has spent a lot of time researching digital assets. Last month, the advisory firm released survey results showing 73% of respondents are bullish towards cryptocurrencies, up from 68% in 2019.
Ethereum reaches its maximum price in 2020
While BTC continues to move towards new all-time highs, Ether (ETH) also set new highs for the year to date. Following news that the Chicago Mercantile Exchange plans to launch ETH futures contracts in 2021.
BTC soared to new highs on December 16. Earning 10% in a day from USD 19,140 to USD 21,340. December 17th has seen BTC extend the rally even further during the Bitcoin rally.
At the time of writing, BTC is trading at $ 23,187 according to our online crypto tool. Obtaining a growing variation of 2.47% in the last 24 hours. While Ethereum stands at USD 651, varying positively 0.83%.
While many traders seem to be keeping an eye on Bitcoin’s charts, Ether has also moved towards new yearly highs. Yesterday, the price rose to a local high of $ 656 on BitMEX.
There is a big rally in BTC million dollar addresses
Bitcoin’s parabolic race has turned early miners into millionaires at a rate rarely seen before. Data from Glassnode shows that the number of Bitcoin addresses with at least $ 1 million has soared to 66,540 this week. An increase of 150%.
The rise of millionaire wallets is attributable to the early miners withholding their Bitcoin over the years. Culminating in the latest asset surge above $ 20,000.
As Glassnode tweeted:
“That BTC crosses $ 20,000 has turned all the first addresses of miners into millionaire addresses.”
The tweet was accompanied by a graph showing the number of millionaire addresses at or near historic peaks. And, the last major spike coincided with Bitcoin’s spike in late 2017.
In a few lines …
- Kim Dotcom backs Bitcoin Cash and believes its price will hit $ 3,000 in 2021.
- Through a Tweet, Dotcom predicted that the price of Bitcoin Cash (BCH) will rise 867% in 2021. Reaching more than $ 3,000. He also said that he would support BCH on its ‘K.im’ peer-to-peer content monetization blockchain.
- Mark Cuban, American TV personality and businessman, is still not impressed by the current Bitcoin rally. In an interview, the billionaire businessman believed that a banana was more useful than the cryptocurrency.