As Bitcoin’s popularity around the world increased, institutional investors began to enter the cryptocurrency market. Bitcoin investments gained momentum with the involvement of a giant financial institution such as JP Morgan, which reported that it was skeptical of cryptocurrencies until recently. Therefore, it was observed that giant financial institutions added crypto money to their predictions for the end of 2021.
According to one of the institutional investors, Citibank, by the end of 2021, the price of Bitcoin, which is currently around $ 60,000, will rise to $ 318,000 by the end of December 2021. In other words, the price of Bitcoin will double its current price. This is the prediction of Citibank and Citigroup… JP Morgan, on the other hand, made a more ambitious forecast, predicting that the price of Bitcoin could rise to $ 600,000 by the end of 2021. Apart from these, there are other estimates that go up to 1 million dollars. But average estimates range from $300,000 to $600,000.
It looks like 2021 will be a bright year not only for Bitcoin, but also for altcoins such as Ethereum, Cardano, Stellar, Chainlink, Binance Coin, Bit Torrent, Chilliz, Bitcoin Cash, Litecoin, Polkadot, Neo. The figures predicted by institutional investors for these altcoins are also fivefold or eightfold…
We say these things, but it’s all just a guess. Remember that Bitcoin and all cryptocurrencies are a very risky investment tool. It may rise as well as fall… And these falls can be very drastic, as in 2017, and you may lose all of your invested money. For this reason, you need to be very careful when investing in Bitcoin and altcoins and do not invest without researching thoroughly.
Will ETF Approval Make Bitcoin $100,000?
Bitcoin and its derivative altcoins, which marked the years 2020 and 2021, are in a constant rise. There are predictions that the price of Bitcoin, which saw $ 62 thousand in March, will reach $ 200 thousand by the end of the year.
It is said that one of the factors that will increase Bitcoin to 100 thousand dollars in a short time is the approval of the ETF application. Bitcoin has applied for an ETF in America and is expected to be approved within 40 days.
So what is an ETF? ETF stands for mutual fund. If the application is approved, investment companies will be able to set up Bitcoin mutual funds. Thus, those who want to invest in Bitcoin will be able to receive ETF funds instead of buying Bitcoin from the stock market.
Currently, to invest in Bitcoin, it is necessary to become a member of Bitcoin exchanges and buy Bitcoin. If Bitcoin mutual funds come to life, it will be possible to buy Bitcoin funds without buying Bitcoin. This will make it easier to invest in Bitcoin. Bitcoin funds are expected to be profitable as experts will manage the funds.
If the fund event happens, more people will have invested in Bitcoin. Thus, the market capacity of Bitcoin will grow. This growth is expected to have a positive impact on Bitcoin prices. The price of Bitcoin is expected to reach $100,000 in the near future if the funds are allowed to be established.
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