28.12.202012:08 Forex Analysis & Reviews: Bitcoin may reach $50,000

This year has become significant for the crypto industry. Crypto experts summed up the results of the outgoing year.

Yesterday, December 27, the bitcoin rate rose by more than 13%, setting a new historical record. For the first time, the cryptocurrency rose above $28,000. Bitcoin accounts for approximately 71% of the entire global cryptocurrency market.

However, today, BTC is trading at $26,714.80.

Experts say that the sharp rise in the value of bitcoin is surprising, but quite expected. On the one hand, people are tired of the pandemic and take risks to distract themselves. On the other hand, there are expectations associated with the anticipation changes that may occur in the new year. Experts believe that bitcoin will approach the $29,000 mark.

In addition, a new Ethereum 2.0 project will be implemented in the next two years. This will be the main topic for discussion. Ethereum is the top 2 in terms of capitalization and one of the most technologically advanced projects in the world. Amid these events, the price of Ethereum will conquer new highs, experts suggest.

Moreover, the capitalization of DeFi tokens has grown 14 times in six months - in June it was about $1 billion, and by the end of the year, it managed to advance to $14 billion.

Moreover, the crypto market will be affected by PayPal, which will allow customers to hold bitcoin and other virtual coins. It has also opened access to trade. These are really big changes. Soon, there will be an opportunity to pay with cryptocurrency for services in e-commerce. There are around 26 million accounts. Cryptocurrency will become a means of payment, which will contribute to the convergence of the traditional and digital financial worlds.

Some analysts have stated that the bitcoin price of around $50,000 seems quite real. Not so long ago, the rate rolled back to $3,800. However, we can see that the number of people in this industry is growing along with the price.