News
Bitcoin (BTC) is likely to hit $60,000 in 2021 amid the growing mainstream adoption, according to an analyst at major financial publication Investing.com.
Jesse Cohen, a senior financial analyst at Investing.com, predicted that Bitcoin will likely reach a $60,000 level in the first half of 2021.
According to Cohen, Bitcoin’s growth in 2021 will be fueled by support from institutional investors combined with the “flush of ultra-cheap money being pumped into the global financial system” by global central banks like the United States’ Federal Reserve:
“After a record-breaking year in 2020 that saw it jump more than 300%, Bitcoin looks to stay strong in 2021 as more retail — and big-name institutional buyers — enter the market [...] For those already in, the strategy in place remains to HODL [...] First-time novice investors have found their way into many risk-perceived assets, including Bitcoin.”