$137k By December 2021 And Why it's Different This Time!

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137k By December 2021 And Why it's Different
This Time !
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Do you remember what happened on March 12th,
2020? If you are a long-term hodler then you
definitely remember that day. On March
12th, Bitcoin fell more than 50 in a single day
to around 4000. If you saw that crash and you
are still there in the crypto market then
congratulations you are a true hodler and true
hodler always gets rewarded. At the end of 2020,
Bitcoin entered the bull market and broke its
all-time high which was around 20k. Currently,
the price of Bitcoin at the time of writing this
blog is almost 60k. Below is the chart that
shows what happened in March 2020!
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WHY THIS CRASH HAPPENED? The whole
cryptocurrency market was shocked when the
bitcoin price briefly plunged to under 4000 per
bitcoin. This sudden fall was led by
Seychelles-based bitcoin and cryptocurrency
exchange BitMEX, with the bitcoin price dropping
to a low of 3600 on the exchange before it was
closed for maintenance. We're seeing a lot of
leveraged trades in the crypto markets and that
leverage can lead to extreme corrections during
periods of high volatility." BitMEX users can
borrow against their deposits up to a ratio of
1001, providing traders the opportunity to
amplify their gains, as well as potential losses.
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WHY MARCH 2021 IS DIFFERENT FROM THAT YEAR-
In 2021 bitcoin market cap crossed 1Trillion and
thats really huge. Bitcoin is in the top 10
assets in the world by market cap and there is
highly likely that soon bitcoin will breach the
gold market cap. There are few reasons that 2021
is very different from all previous years for the
whole cryptocurrency market and its reaching
137k very soon!
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1 ADOPTION- You can see that 2021 so far has
seen a huge uptake in both the number of total
whales and their total holdings held well beyond
the existing uptrend that existed throughout
2020. This is a sign that 2021 will be a big year
for bitcoin. Many new companies and some
countries started to adopt various
cryptocurrencies. That is a very good sign for
the whole cryptocurrency market.
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2 INSTITUTIONAL INVESTORS- In the year 2021 when
bitcoin is entered in a new bull run many
institutions are starting to buy bitcoin. A first
mover in this approach is Microstrategy who has
continued to cost average into a very large
bitcoin position of now almost 90,000 bitcoins
worth of approximately 2Billion. On Feb. 8 Tesla
motors invested 1.5 billion in bitcoin. Even
Elon Musk (CEO of Tesla) tweeted that he is late
to join the bitcoin party. Many more institutions
like Grayscale bitcoin trust, Galaxy digital
holdings, Coin Shares, etc. are entered the
cryptocurrency market. 3 RETAIL TRADERS- When
bitcoin entered the bull run many retail traders
jump into crypto trading. This year Paypals
crypto trading is going live in the United
States. Below is the chart that the COINMOMO TA
team has prepared showing the possible BTC TOP to
be somewhere around 137k.

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Apart from that, major fast food outlets like
Burger King and Pizza Hut started accepting
cryptocurrencies in places like Venezuela,
Germany. Even 25,000 major retail stores in
France started accepting Bitcoin. Italian
motorcycle manufacturer becomes the first to
accept worldwide crypto payments.
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So basically what happened last year was a
shakeout if you see it that way, BTC is almost
14x and everyone across the world be it a
billionaire entrepreneur or retailers is getting
attracted to this asset class. You are a winner
if you kept holding and didnt give up last
year. Do share this article with others if you
find it informative.
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For more update , visit us
https//www.coinmomo.com/article/137k-by-december-
2021-and-why-its-different-this-time