There are no barriers to bitcoin, and its upward movement dynamics will continue over the next 12 months.
By the end of the first quarter of 2021, BTC could test values in the $ 150,000 region, Magentic top manager William Quigley said in an interview with CNN Business.
He agreed with those experts who have been talking about the gradual institutional adoption of bitcoin over the past two years. Large financial structures that need a tool to minimize inflationary risks are showing particular interest in cryptocurrency.
The main advantage of bitcoin is its limited emission. In this regard, the top manager of Magentic shares the point of view of those who believe that as the date of the mining of the last coin approaches, the demand for cryptocurrency will increase.
The key event in the development of the Bitcoin ecosystem is the so-called halving (reduction of the miners’ reward for mining a block).
Last May, BTC experienced its third halving. After this event, the value of the cryptocurrency soared by more than 550%, Quigley recalled.
Kraken CEO Jesse Powell is even more optimistic. He recently spoke on Bloomberg TV that the price of bitcoin could reach $ 1 million.
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