The bitcoin it advances at a record per day. What is new is not so much the record itself, but how long it will take to complete the next goal. For now, the closest are the 40,000 dollars to which it is already approaching after yesterday it stood at around 38,500. It rose more than 12% on the day. After 2020 in which bitcoin has presented its cards to be considered an investment asset, the challenge for 2021 will be to consolidate itself as such.
Although not all firms consider it a reliable alternative, more and more investors are joining the rush for this digital asset. Only last year it appreciated more than 300% in the heat of the uncertainty caused by the coronavirus crisis, the abundant liquidity available in the markets and the low yields that the rest of traditional assets yielded.
Many individuals have joined in the last few months to boom of bitcoin, but what has truly made the difference has been the arrival of the institutional ones. “We are seeing how this cryptocurrency has begun to form part of the recommended diversification strategy for institutional investors and investment banks, something that underlines the importance of this asset in the world of investment,” he says Eric Demuth co-founder and CEO of Bitpanda, a European neobroker investment firm.
The shadow of speculation and volatility will linger around the cryptocurrency, but none of those factors set back investors increasingly willing to add exposure. “The demand for alternative assets is increasing and institutions around the world are seeing bitcoin as a growth asset and as a way to protect themselves against the great fear of 2021: inflation,” he explains Simon Peters, analyst at the multi-asset investment platform eToro.
Prospects indicate that the situation will continue to be similar in the coming months, hence the forecasts of analysts like Peters are optimistic for those who decide to bet on bitcoin. “The financial generosity we have seen from central banks and governments has eroded the value of traditional assets such as cash and bonds. This shows no signs of abating, so the momentum behind bitcoin is unlikely. fade in the near future. ”
Some analytics firms had set the level to beat at $ 50,000 in the next two months, although there are others that go much further. The bank JP Morgan, which in 2017 called bitcoin a fraud, has radically changed positions and now estimates that the cryptocurrency could reach $ 146,000 in the long term as the digital currency replaces gold as a safe haven.
But the bitcoin rush doesn’t just affect him. The interest in getting the most out of virtual currencies has spread to many other cryptocurrencies. Just one day after bitcoin surpassed $ 34,000 for the first time in its history, Ether posted gains of up to 43%. Currently around 1,200 green bills.
“At a time of uncertainty like the current one, we can only confirm that the rally of cryptocurrencies shows no signs of weakness and other currencies are following the uptrend. The main financial players are strengthening their portfolios for 2021 and seeking protection against a scenario of low long-term interest rates and an upturn in inflation due to the monetary injection of the ECB “, he says Alejandro Zala, country manager the Bitpanda and spain.
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