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

Do you remember what happened on March 12th, 2020? If you are a long-term hodler then you definitely remember that day. https://www.coinmomo.com/article/137k-by-december-2021-and-why-its-different-this-time

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

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  1. $137k By December 2021 And Why it's Different This Time !

  2. 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!

  3. 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 100:1, providing traders the opportunity to amplify their gains, as well as potential losses.

  4. WHY MARCH 2021 IS DIFFERENT FROM THAT YEAR:- In 2021 bitcoin market cap crossed $1Trillion and that’s 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 it’s reaching $137k+ very soon!

  5. 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.

  6. 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 bitcoinparty. Many more institutions like Grayscalebitcoin trust, Galaxy digital holdings, Coin Shares, etc. are entered the cryptocurrencymarket. 3 RETAIL TRADERS:- When bitcoin entered the bull run many retail traders jump into crypto trading. This year Paypal’s 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.

  7. 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.

  8. 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 didn’t give up last year. Do share this article with others if you find it informative.

  9. For more update , visit us https://www.coinmomo.com/article/137k-by-december-2021-and-why-its-different-this-time

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