Bitcoin’s performance in 2020 was one of the big news for the investment markets, especially crypto assets meets looming expectation that the largest cryptocurrency will break its ultimate resistance at $ 20,000 and hit a new all-time high.
Predictions that Bitcoin could be worth $ 100,000, $ 350,000, and even $ 1 million after that, confirm this expectation, however When could it really happen?
A forecast by analysts at investment bank Morgan Stanley this week could give us indications that BTC’s all-time high, which has been tested a number of times in the past few weeks, could soon trigger a surge in the price of the largest cryptocurrency.
According to Morgan Stanley The world’s most important reserve currency, the dollar, is expected to depreciate in 2021 and even drop 10% over the next 12 months.
Mark Wilson, chief investment officer and head of equity strategy for the institution, said:
“A weaker dollar is good for the world. A stronger dollar is an added barrier to world growth. […] Ultimately, it’s a positive story to think about. “
According to Exame, the crypto market is closely monitoring the devaluation of national currencies, especially the dollar. For MicroStrategy CEO Michael Saylor, one of the companies that bought the world’s largest amount of BTC in 2020, investing in cryptocurrency today is an economic hedge::
“We’re trying to preserve our heritage. The purchasing power of money is rapidly declining.”
The operator of Crypto Broker AG, Patrick Heusser, also believes that the devaluation of the dollar could trigger a price explosion in BTC, especially if the currency tops $ 20,000:
“If one side breaks we will likely see ‘fireworks’, especially on the light side.”