1. https://appdevelopermagazine.com/blockchain
  2. https://appdevelopermagazine.com/bitcoin-price-prediction-for-2021/
1/9/2021 10:31:26 AM
Bitcoin price prediction for 2021
Predictions 2021,Bitcoin,Stablecoins
App Developer Magazine
Bitcoin price prediction for 2021


Bitcoin price prediction for 2021

Saturday, January 9, 2021

Richard Harris Richard Harris

Philippe Bekhazi, CEO of Stablehouse offers his Bitcoin price prediction for 2021, and how he thinks stablecoins will increase its aggregate market capitalizations, and the biggest challenge facing the industry in 2021 will be regulations.

The biggest challenge for the industry in 2021 will be in regulation. There is already significant pressure from the US treasury to overly regulate Bitcoin to a point where it would lose significant utility. AML/KYC requirements will only increase in multiple jurisdictions. France for example recently came out with some stringent AML/KYC requirements.

Bitcoin price prediction for 2021

In 2021, there will likely be a continuation of a bull market for crypto native token Bitcoin and also Ethereum. I am bullish on bitcoin. I see a continuation of the upward trend, with a price target of around $50,000. Stablecoins will grow its aggregate market capitalizations and have many more underlying currencies. The first version of Central Bank Digital Coins may also start seeing the light. 

In 2021, DeFi will evolve from a very immature and cowboy-like market to a more responsible one, at least for the already established DeFi protocols that are working on making sure users don't get overly hurt by code bugs and other UX issues. We still believe there will be a flurry of new protocols and highly advise caution. Also, the more pressure there will be on centralized finance via KYC/AML and other regulatory pressure, the more DeFi will benefit. 

2020 saw powerful trends come to light. The pandemic accelerated certain trends that were already well established, for example, Bitcoin becoming a type of digital gold against unrestrained money printing. In the year to come, we expect the further impact of the pandemic, for example, payment networks based on bitcoin or ethereum will grow significantly as certain countries suffer economic downturns (such as Argentina, Venezuela, Iran, or Lebanon).

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