Crypto Price Prediction: Bitcoin Forecast To Hit $5 Million As Price Soars Through 2021

Bitcoin surged through October as investors get excited about the new U.S. bitcoin futures exchange traded fund (ETF).

The bitcoin price has increased by around 40% over the last month. It reached an all-time high earlier this week of $67,000-$2,000 per Bitcoin, which is around 40% higher than its April peak.

A panel of 50 experts in bitcoin and cryptocurrency have predicted that the bitcoin price would continue to rise through 2021. It will reach highs of $80,000 before reaching $250,000 by 2025. Then, it will hit a new record of $5 million per bitcoin by 2030.

According to panelist Daniel Polotsky (founder of the bitcoin ATM network CoinFlip), bitcoin will become less growth stock and more like an age- and trust-based store of value as it matures. He believes that bitcoin will reach $80,000 by 2021. “Eventually, bitcoin will be the king of safe haven assets and I hope this change of guard occurs before the end of the decade.

The panel was assembled by personal finance comparison website Finder and asked for their predictions on the bitcoin price from late September to early February- prior to bitcoin’s most recent break out.

This group was made up of entrepreneurs, crypto analysts, and researchers. They predicted that bitcoin would reach $80,021 by 2021, before ending the year at $71,415. Panelists predict that bitcoin prices will rise to $249,578 per year and $5.2 million by 2030.

Gunnar Jaerv (First Digital Trust’s chief operational officer), said that the bull run was different this year. He has a $70,000 end-of-2021 prediction for bitcoin prices. “More innovation, more regulatory involvement (despite fear uncertainty and doubt, also known as FUD), and the ecosystem is falling into place quite nicely.

But not all panel members are optimistic about bitcoin’s prospects. John Hawkins, a senior lecturer at the University of Canberra, said that he believes it is time to sell bitcoin. He warned it is speculative and would eventually burst.

“A bitcoin price crash could be due to disillusionment about all private crypto (with possible exceptions of stablecoins that have genuine backing), as central bank digital currencies show they are the future e-currency. Or it could just be because ethereum, or if it ever launches Facebook’s diem, is considered the better crypto.

The market for crypto combined has seen a huge rise in value this year. Investors believe bitcoin will replace gold as a major store-of-value. Ethereum and other smart contract Blockchains will be a part of the foundation of a future digital economy. This will include their use in Decentralized Finance (DeFi) as well as non-fungible tokens.

After governments have flooded financial systems in cash to counter the economic effects coronavirus lockdowns on their economies, the crypto rally has sparked warnings from those within the crypto space.

The chief executive of Binance, a bitcoin and crypto exchange, warned crypto traders to be aware of’very high volatility’ earlier this week.

Changpeng Zhao (often referred to as CZ) said that he expects crypto volatility to rise in the coming months.

Bitcoin hits $56k as ‘Big Short’ investor Michael Burry brands Shibu Inu ‘pointless’

On Monday morning, cryptocurrencies rose as bitcoin held above the key level of $50,000 (PS36.653).

Bitcoin (BTC-USD) traded at $56,509, up 1.5% from April’s record high of $63,000. This is less than 15% off the record.

Ethereum ( Ethereum-USD), second largest crypto market capital, traded at $3,611 after a 0.7% increase.

Analysts predict a record-breaking rally by the end of 2021. Nigel Green, CEO, deVere Group, stated that they are still optimistic that bitcoin prices will continue to rise if current momentum continues.

Investor Michael Burry claimed that the meme token Shiba Inu SHIB-USD was ‘pointless’ over the weekend, criticising its supply.

Scion Asset Management, a hedge fund manager who also founded the private investment firm Scion Asset Management, is well-known for his prediction of 2008’s financial crisis.

He is featured in the book The Big Short by Michael Lewis. This was turned into a movie starring Christian Bale.

Burry shared the descriptionof Shiba Inu from Coinbase on Saturday. It said: “Shiba Inu (SHIB), is an Ethereum-based token that aspires be an Ethereum-based alternate to dogecoin DOGEUSD), a popular meme coin. SHIB, unlike bitcoin, is deliberately abundant with a circulating supply that exceeds one quadrillion.

Burry criticized the supply of the token in a now deleted tweet: “Just saying, one quadrillion second is approximately 32 million years. One quadrillion days equals 2.7 trillion years. This is the total time since the beginning of the universe multiplied by 71,000. This is simply meaning that it’s pointless.

Burry was retweeted by several people on Twitter, stating that there is now a quadrillion Shiba Inu in circulation.

Burry previously warned against investing in cryptocurrency. He predicted the “mother of all crashes” in June and said that the problem with crypto was the leverage.

Shiba Inu traded at $0.000028 Monday morning, up 3.7%

Last week, the token surged after Tesla ( -TSLA), CEO Elon Musk tweeted photos of his dog, the exact same breed that the token is named for. It was down nearly 27% on Friday.

Bitcoin Depot Surpasses 5,000 Bitcoin ATMs In North America

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ding to a press release, Bitcoin Depot’s machine count has increased more than three times in the last six months. This expansion was driven by a desire for Bitcoin from many communities across North America, particularly the unbanked. Bitcoin ATMs allow physical transactions with cash, without the need for a bank account . However, they can also be very expensive.

According to the release, Brandon Mintz, President and CEO of Bitcoin Depot stated that ‘It’s clear the crypto market has captured mainstream attention, and the demand for cryptocurrency from consumers and retailers continues to grow. This gives us greater opportunities to expose Bitcoin Depot ATMs for individuals who are looking for convenient access to cryptocurrency and alternative financial services.

Bitcoin Magazine reported in July the dramatic rise in U.S. bitcoin ATM kiosks. This was a sign of a growing retail investor demand for convenience. According to How many Bitcoin ATMs, since then the number of machines on American soil has increased by more than 11%.

Due to the rising popularity of bitcoin and the assurances that it can provide regular people when central bank monetary policy erodes their purchasing power, kiosks have been popping up at gas stations, grocery stores, and other locations.

Convenience store chain Circle K also partnered with Bitcoin Depot in July to bring bitcoin ATMs into its stores across the U.S.A. and Canada. The franchise already had over 700 machines.

“We are thrilled to reach a new and significant milestone with 5,000+ cryptocurrency ATMs, on the heels Bitcoin Depot’s 5-year anniversary and a long-term partner with Circle K,” Mintz said.

The convenience of buying bitcoin via ATMs comes with additional costs, such as high fees and know-your-customer procedures. For every transaction at an ATM, some operators charge up to 30% in fees. For smaller purchases, you can verify your phone number or submit an ID for larger transactions.

Why Bitcoin And Other Crypto Prices Are Plunging?

This decline in cryptocurrency’s value occurs at a time when institutional interests in the industry have risen. Some investment banks have increased their estimates for cryptocurrency in the next months.

As investors seek to protect themselves from risk, analysts expect more volatility this week.

According to CoinShares data, crypto funds and investment products saw inflows for the sixth consecutive week. The week ended September 17th saw crypto inflows totaling $41.6 million. Bitcoin accounted for $15.3 million while ether products accounted for $6.6 million.

The research shows that Bitcoin has been the hardest hit by negative investor sentiment. Inflows have occurred only three times in 16 weeks. Bitcoin inflows totalled $4.2 billion for the year.

Why are cryptos plunging?

Evergrande, a Chinese conglomerate of real estate, faces a $300 billion debt, and the possibility to go bankrupt. The company’s Hong Kong-listed shares fell by 20% on Monday. Many markets, including cryptos are worried that the collapse of the company will cause disruption.

Bitcoin (BTC), investors are worried about growing rumors that Evergrande Group in China, China’s second largest property developer, might default on its $300 billion obligations.

According to reports, the US regulators and politicians may crack down on cryptocurrency.

The Wall Street Journal reported last Wednesday that the Biden administration was preparing a range of actions, including sanctions to make it harder for hackers to profit from ransomware attacks using digital currency.

“Bitcoin prices are now below US$45,000. The drastic drop in bitcoin prices of 8% can be attributed largely to Evergrande, a Chinese developer. His debt of US$300billion is the reason.

Despite the dips in crypto and traditional markets countries such as El Salvador, which is now regulated, have used the downturn to their advantage and bought 150 more bitcoins, bringing the total to US$31million. The market will fluctuate but crypto will always be highly sought after. The only way to go up is down, says the CoinDCX Research Team.

Bitcoin Will Protect Your Wealth From The Government

The government is a parasite pretending to be our friend. The government wants us to believe that they are in our best interests while enriching themselves, their cronies, and ourselves. Governments exist to support themselves. They don’t shrink; they only get bigger.

This is true for both democracies and dictatorships. Unstated goals are for the 1% and 99% to gain more than they lose. This has been the case throughout human history and still is. Although it sounds harsh, history will show you the truth. This is true for central banks as well as major corporations around the globe. They are rent-seekers.

The Darwinian survival principle of the species is in place, even for governments. They become more extractive the larger they grow. They are more difficult to control the longer they have monopoly power. They’re like a huge organism constantly yelling “FEED ME!”

How can we rein it in? Do you want to see your government shrink? Buy bitcoin. Bitcoin isn’t a parasite. Bitcoin isn’t trying to extract as many from you as central banks and governments do. Bitcoin doesn’t seek to control anyone. Bitcoin removes the stress from investing. Bitcoin is the most efficient savings technology that the human race has ever devised. Bitcoin allows me to save money and not have to learn another career as an investor.

Parasites can be treated with Bitcoin. Like proper food handling, bitcoin is an easy but effective treatment. It is not easy to clean and disinfect the modern financial system. However, a decentralized network that can instantly transfer value is an acceptable remedy. The first step in eliminating the parasite is to remove it from the system by allowing small amounts of freedom through the early OGs. From there, the parasite spreads throughout the organism clearing out corrupt behavior, replacing it with Cantillon benefits, and eventually awakening the society. The last stages of the parasite are self-destructive tendencies that resemble totalitarianism, but this is not a concern for those who are knowledgeable about bitcoin’s decentralization.

Because governments cannot dilute or steal bitcoin’s current or future issuance, Bitcoin can protect your wealth. This is truly amazing.

Why did young Americans invest their stimulus checks in Bitcoin?

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US government issued a series of stimulus checks as a response to economic difficulties caused by the coronavirus pandemic. These payments were not available to everyone, but the majority of Americans qualified for them. This included many young Americans. A survey revealed that many of these youngsters had invested their stimulus checks into crypto assets, such as.

CNBC and Momentive conducted a survey and found that 11% of 5,530 people interviewed had bought cryptocurrency using stimulus money.

A majority of respondents believed that digital assets were long-term investments.

Why should you invest in Bitcoin?

Bitcoin, a decentralized digital currency that can be traded, was first traded in 2009. This asset gained popularity over the next decade and saw its value rise and fall like regular stocks. Bitcoin is often viewed as easier to access than the stock exchange by young people. Its popularity has steadily increased.

Young people may choose to invest in Bitcoin as a stimulus check because it is easier than other options.

Additionally, the majority of people who have already made a profit from investing their stimulus money in Bitcoin are likely to make a profit. According toBitcoin StimulusAnyone who had invested 1,200 dollars in stimulus checks in Bitcoin by April 2020 would have an 8,700-dollar worth of cryptocurrency.

Is there a fourth stimulus for Bitcoin investment?

Another survey has shown that most Americans have spent money received via stimulus checks. This was the goal of the program. Many who want to invest in Bitcoin will now need to wait for the fourth stimulus check.

But, is a fourth stimulus package on the horizon? It doesn’t seem likely. Some politicians are calling for another round, but most people believe that the third and final stimulus check was sent at the federal level.

Finder’s Poll Shows Vietnam Holds the Highest Percentage of Crypto Ownership Worldwide

Finder’s Cryptocurrency Ownership Report published on August 13, 2021, has some interesting findings after the researchers polled over 42K people. The survey covered 27 countries and measures crypto asset ownership.

According to the Finder poll, men are more likely than women to own a digital asset. James Edwards, Finder’s writer, explained that the gender gap in ownership is approximately six percentage points.

According to a study, 41% of Vietnamese have cryptocurrencies. The study claims that 30% of Indonesian citizens have crypto assets, while India boasts around 30%.

The research shows that Vietnam has the highest percentage of holders. However, it joins Singapore and the Philippines with the largest gender gap (9-11%). The smallest gender gap is found in New Zealand, South Korea and Portugal (1-2%).

Edwards stated that’remittance payments may have played an important role in these numbers. With cryptocurrency being an option for migrants wanting to send money home and not pay exchange fees,’ Edwards added.

The countries with the lowest amount of crypto ownership are Japan, Spain, Germany, USA, Germany and Japan

The top three countries with high ownership percentages are Malaysia (29%), South Korea (23%), Brazil (22%), Italy (21%), and Belgium (26%). The five countries with the lowest cryptocurrency ownership are Spain (12%) and Japan (11%), Germany (11%), and the United States (9%) respectively.

This contrasts sharply with the way things are described by the media. The U.S., U.K. and Japan are frequently highlighted as being hotbeds for cryptocurrency adoption. A number of South American countries are noted to have high adoption rates. Most often, they include Venezuela.

Finder’s survey doesn’t reveal Venezuela’s adoption rates, but Colombia’s is lower than Brazil’s 22%. However, Colombia’s crypto ownership percentages are around 14%. According to the Finder poll, there were approximately 1,160 and 2,511 people surveyed in each country for the ownership report.

Edwards stated that the report shows that bitcoin is still the dominant cryptocurrency despite speculations that ethereum might become the most popular. He added that Bitcoin had the highest adoption rates of any single country.

Node software startup Umbrel plots ambitious offerings beyond bitcoin

Umbrel, a bitcoin software node provider, has released a new version to its app in order to expand beyond bitcoin and other blockchain services.

Umbrel’s App Store Version 4 has 10 new apps. These apps provide a variety of services such as blocking ads, storing passwords and streaming torrents.

Umbrel is a commonly used software for running a bitcoin lightning node on a Raspberry Pi. This allows users to run their own node on their main computer and leave the Pi on permanent if necessary. It offered some bitcoin-related apps up until the most recent upgrade, including the ability to run a block explorer with data from the node as well lightning-dedicated apps.

These apps, which aren’t bitcoin-based, are not new to Raspberry Pis. Previously, developers would install them directly on their Pis if the Pis needed to do a specific task like blocking ads.

Umbrel makes it easier for users to download and access these services once they are installed. This makes them easier to access for a wider audience.

You can use the apps Pi-hole to block ads and SimpleTorrent to stream torrents. Matrix is for running your own messaging server.

You can also access your Umbrel node via the Tor browser. This allows them to access their Umbrel node from any computer or phone. It can be used to make bitcoin lightning payments (with bitcoin stored in the Umbrel) while someone is away from home – instant payments, and non-custodial.

This service will work with the new apps. PhotoPrism is an app that allows you to store photos and videos. Tor allows users to access these media via their smartphone.

Umbrel fixes two of its larger issues

Umbrel has been subject to criticisms since its inception.

Umbrel’s restrictive license didn’t permit developers to modify the code or resell it commercially. PolyForm Noncommercial License 1.0.0 is the new license that Umbrel has adopted. This allows modifications, provided the software is not sold for commercial purposes.

Umbrel stated: “TL;DR – If you don’t intend on selling Umbrel’s software, our new license gives you the same freedoms as an open-source license.

Second, Umbrel has the power to decide which bitcoin software the service supports. This means that users have fewer options. In the blog post announcing the new upgrade, Umbrel said that it plans to turn the current bitcoin offering into its own app so that users opt into using it.

Umbrel users will also be able to choose from many other options by allowing developers to create alternative bitcoin apps.

Compass Mining To Offer U.S. Clients Tax-Efficient Bitcoin Mining

A press release was sent to Bitcoin Magazine. It states that U.S. Compass mining clients can now mine Bitcoin directly into a Choice Individual retirement account without triggering any taxable events.

According to current tax laws, income from Bitcoin mining can be taxed like income. When they have to sell bitcoins to pay other taxes, miners are also subject to capital gains tax.

Depending on the type of IRA they choose, miners can avoid tax on bitcoin income by mining in a Choice account.
Compass sent a statement to Bitcoin Magazine explaining that tax-efficient mining offers huge benefits to retail miners, and gives them another tool to make more money on a smaller scale.

Choice is an independent custodian that meets the requirements of the South Dakota Division of Banking. It also offers Kingdom Trust Company. Choice was the first retirement provider to offer one account for all clients’ retirement assets, digital or legacy, in May 2020. Choice currently has over 125,000 retirement accounts and more than $18 billion in assets.

Compass mining lets users mine efficiently without having to worry about logistics. They can rent or purchase machines and have them housed, maintained and operated for their benefit. This is the best place for average investors to mine at profit on a variety of scales. Retail miners have access to the same high quality mining hardware as industrial customers and verified hosting facilities.

Compass Mining surpassed 450 petahashs (PH) in July across all of its customers. Only retail miners who purchased hardware from Compass are eligible for the tax benefits of mining to a Choice IRA. The Choice account receives the mining payouts.

Choice CEO Ryan Radloff commented that it was an amazing opportunity to be able to buy a Compass miner in your IRA and mine Bitcoin in a tax-advantaged accounts. We are all excited to continue working with Compass as the industry evolves.

South African Central Bank Warns Citizens Against Accepting Tainted Banknotes

EWN reports that the South Africa Reserve Bank (SARB), has warned South Africans who are found with such banknotes they could be subject to criminal investigation. This warning comes after what the SARB called an “increase in circulation of dye-stained banknotes in KwaZulu-Natal, and Gauteng.”

South Africa was in chaos immediately after Jacob Zuma’s arrest. His supporters violently protested his imprisonment. This chaos allowed criminal elements to launch a looting spree that is estimated to have cost billions.

Looting ATMs

According to the EWN report, ATM robbers had the perfect opportunity to multiply their attacks due the chaos that followed initial looting and torching real estate properties. According to South African ATMs, cash is kept in dye-stain containers.

This technology activates when the container is opened. This causes the cash to be stained with a blue and green dye. The notes are then rendered unusable as currency.

The central bank also advised South Africans who unknowingly received such notes to immediately report to the nearest police station. The SARB did not disclose the exact value or number of the banknotes stolen at the time of writing.