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It is difficult to make an accurate price prediction for Bitcoin, as the price of the digital asset is influenced by a range of factors. That said, some people believe that as more funds are invested into the cryptocurrency, new bull markets are likely to start, pushing BTC above $30,000 in the near term.
Bitcoin is already well on its way to new record highs, having recently breached the $30,000 milestone. This milestone is important as it marks the highest price ever for the cryptocurrency. The massive influx of funds which recently sent BTC above the $30,000 resistance level is also likely to continue and push the cryptocurrency further to new all-time highs.
Given Bitcoin’s historical propensity for rapid price appreciation, it could be wise to consider the possibility that the cryptocurrency could reach a price of $50,000 in 2021. This is especially true given the large number of institutional investors and financial institutions already investing in the asset. Many are expecting the asset to break even higher heights this year.