7 Reasons Why Bitcoin Will Hit $50,000 In 2021

Sunny Samanta

4th Feb'21

"This is inevitable" – Elon Musk

As absurd as it may sound, bitcoin (BTC) has become one of the most trending subjects at the beginning of 2021 itself. The cryptocurrency which was invented by an unknown person or a group of people who goes by the name Satoshi Nakamoto in 2008 has now become the talk of the town. And for its rise in enormous recent popularities, we can thank the GameStop and the Wall Street saga. Because of that event, the cryptocurrency which was more a topic of discussion amongst the minuscule has now grabbed the attention of more casual seekers. 

What’s more fascinating is that several reports have estimated that Bitcoin Will Hit $50,000 in 2021 itself. And here we will be discussing reasons why it is going to happen.

1. Mining Bitcoin isn’t Cheap

Earlier, the mining of BTC used to be easy and cheap but with the influx of miners in recent times, the difficulty of mining BTC rate has gone upwards alongside decreasing the reward from it as well. So much so that, now for a lone operator it is virtually impossible to mine even a single BTC without help both in terms of expensive mining resources and vast quantity. Also, a lone operator cannot mine a BTC without the aid of a mining pool.

Although the mining pool can be operational with cheap electricity, still it will cost something. Besides, running a mining operation can be too much for a lone operator to handle in terms of the overall cost. So, mining BTC undeniably requires money and that gives it an intrinsic value lay.

2. Supply is Limited

A prime misconception about cryptocurrencies is that people who don’t have much knowledge about them may think their supply is unlimited. BTC’s case is no different. The value of BTC is largely driven by its supply and somehow the supply rate has been trending downwards. So far, the total BTC’s ever minted is around 21 million. 

However, this number is exclusive of the wrapped BTC as well as the others kind of defied source BTC’s, and ultimately, this will also play an important part in affecting the price of BTC. 

3. BTC Addresses are Growing in Numbers

With the way, how the setup of the BTC network is, it can be said to have an infinite number of addresses already. This contributes towards its safety enormously, as hackers will have gargantuan time to hack it due to the requirement of a specific address. 

Here, an important figure is the number of BTC wallets that are holding BTC >0 currently. In the year, the same figure updated a YOY increase, reflecting the total number of wallets at over 1 million users. While this may not sound like much but it must be remembered that the supply of the BTC is limited.

 

Bitcoin Cryptocurrency

 

4. The Growing BTC Mining Community

You don’t see a community growing unless it has potentially something worth for people to invest in it. Bitcoin (BTC) is no different than those communities. And if the latest data reports are to believed, it only reflects BTC mining indeed is an attractive and lucrative investment. 

In fact, with the recent events, the amount of computing power (also known as hashing power) that has been attributed to the BTC network is currently at an all time high. With this outcome, it is safe to say that Bitcoin’s computing power will most likely continue to set new highs in the future for long.

Recommended: 5 Crypto Investment Mistakes You Should Avoid in 2021

5. The World’s Reserved Cryptocurrency

Thanks to its ease of usability and availability, Bitcoin for long has remained and continues to be the World’s reserved cryptocurrency. When it comes to cryptocurrency, BTC remains the first choice of most new users. This is a testament to the dominance of the BTC in the cryptocurrency market cap.

 If you take out 2017 and 2018 when the Altcoin craze was at its high, it is worth noticing that besides those two years, Bitcoin has always commanded half of the total market at the least. This shows that as the world is warming to cryptocurrency, BTC is going to be the first choice for most of the users.

6. Getting Lost, Locked, Burned Everybody

If the limited numbers and the decreasing supply rate of Bitcoin weren’t enough to amplify the BTC movement, we have lost BTCs to consider. It is estimated that about 3.7 million BTCs have already been lost and irrecoverable. Approximately, every day 1,500 BTCs get lost. What this means is that nobody can get to it because of the blockchain where its operation requires you to lock or “burn” coins in purpose to attain new values from it.

7. Growing Defi

Defi is decentralized finance that locks BTC and other cryptocurrencies into a smart contract. And the value of the Defi recently has grown at an exponential pace to hit a worth of over $27 billion in value. Now, this makes it clear that part of its growth has a lot to do with BTC which is the first choice for many when it comes to cryptocurrency.

These reasons combined with the latest reports undeniably explain why Bitcoin will hit $50,000 in 2021 or fact, even more.

We, at OpenGrowth, are committed to keeping you updated with the best content on the latest trendy topics from any major field. Also, both your feedback and suggestions are valuable to us. So, do share them in the comment section below. 

A lone wolf by definition, a writer by heart, and a lost star with ambitions to light up the dark both inside and around me, sometimes by immersing myself into books or video games or traveling with a backpack to an uncertain destination believing that life is all about the choices we make and we don't.

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30th Apr'22 08:01:46 PM

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30th Apr'22 08:01:45 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

Allen dave

30th Apr'22 08:01:45 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

Allen dave

30th Apr'22 08:01:44 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

Allen dave

30th Apr'22 08:01:44 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

Allen dave

30th Apr'22 08:01:43 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

Allen dave

30th Apr'22 08:01:42 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

Allen dave

30th Apr'22 08:01:42 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

Allen dave

30th Apr'22 08:01:42 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

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30th Apr'22 08:01:41 PM

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For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

Allen dave

30th Apr'22 08:01:41 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

Allen dave

30th Apr'22 08:01:41 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
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30th Apr'22 08:01:40 PM

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30th Apr'22 08:01:40 PM

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30th Apr'22 08:01:40 PM

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30th Apr'22 08:01:38 PM

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22nd Apr'22 03:41:47 PM

I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
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5th Apr'22 06:21:50 PM

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2nd Apr'22 02:28:48 PM

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15th Mar'22 04:33:34 PM

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15th Mar'22 04:33:34 PM

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15th Mar'22 04:33:33 PM

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15th Mar'22 04:33:33 PM

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15th Mar'22 04:33:33 PM

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15th Mar'22 04:33:32 PM

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15th Mar'22 04:33:32 PM

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15th Mar'22 04:33:32 PM

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15th Mar'22 04:33:31 PM

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15th Mar'22 04:33:31 PM

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15th Mar'22 04:33:31 PM

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15th Mar'22 04:33:30 PM

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15th Mar'22 04:33:30 PM

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15th Mar'22 04:33:30 PM

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15th Mar'22 04:33:29 PM

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15th Mar'22 04:33:29 PM

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15th Mar'22 04:33:29 PM

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15th Mar'22 04:33:28 PM

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15th Mar'22 04:33:28 PM

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15th Mar'22 04:33:28 PM

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15th Mar'22 04:33:27 PM

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15th Mar'22 04:33:27 PM

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15th Mar'22 04:33:26 PM

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BLANK ATM CARD

15th Mar'22 04:33:26 PM

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Adams Good

9th Mar'22 05:52:58 PM

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9th Mar'22 05:52:12 PM

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Adams Good

9th Mar'22 05:51:48 PM

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BLANK ATM CARD

27th Feb'22 11:09:02 PM

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25th Feb'22 08:25:46 AM

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BLANK ATM CARD

21st Feb'22 04:05:56 AM

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Mikey Tatum

16th Feb'22 01:12:43 PM

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BLANK ATM CARD

14th Feb'22 06:54:22 AM

GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735 I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(darkwebcyberhackers@gmail.com) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode. You can also contact them for the service below * Western Union/MoneyGram Transfer Hack * Bank Transfer Hack * PayPal / Skrill Transfer Hack * Crypto Mining Hack * CashApp Transfer Hack Email: darkwebcyberhackers@gmail.com Text & Call or WhatsApp: +18033921735 Visit: https://darkwebcycberhackers.com/

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14th Feb'22 06:54:22 AM

GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735 I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(darkwebcyberhackers@gmail.com) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode. You can also contact them for the service below * Western Union/MoneyGram Transfer Hack * Bank Transfer Hack * PayPal / Skrill Transfer Hack * Crypto Mining Hack * CashApp Transfer Hack Email: darkwebcyberhackers@gmail.com Text & Call or WhatsApp: +18033921735 Visit: https://darkwebcycberhackers.com/

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14th Feb'22 06:54:21 AM

GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735 I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(darkwebcyberhackers@gmail.com) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode. You can also contact them for the service below * Western Union/MoneyGram Transfer Hack * Bank Transfer Hack * PayPal / Skrill Transfer Hack * Crypto Mining Hack * CashApp Transfer Hack Email: darkwebcyberhackers@gmail.com Text & Call or WhatsApp: +18033921735 Visit: https://darkwebcycberhackers.com/

Henry Bartley

9th Feb'22 08:42:56 AM

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Dave Carson

1st Feb'22 12:12:00 AM

Please beware there are many fake bitcoin mining/clouding out there, I have been a victim once but now a certified blockchain consultant and I know better. The whole plan was so smooth I could not doubt it. Bitcoin is actually a great investment option but one thing I discovered over time is that it is not possible to mine bitcoin so don’t be deceived. I invested $25000 on a particular website called eurekaminingblock, I monitored the profit yielding but was told to open a new blockchain account to receive my payout. A public wallet was imported into the account and I was made to believe that was my profit. The bitcoin was labelled non spendable and it took me 2 years to be able to access it without the knowledge of the company. The non spendable bitcoin is the scam out there now and a lot of people are falling victim of it. I found Zion Romero (a recovery expert and trader) on Quora who helped me access a significant part of my investment together with the profit without the knowledge of the company. You can reach him through his email : { REMOTESPYTECH (@) GMAILCOM } Email: REMOTESPYTECH (@) GMAILCOM WhatsApp: +13523543740

Dave Carson

1st Feb'22 12:11:50 AM

Please beware there are many fake bitcoin mining/clouding out there, I have been a victim once but now a certified blockchain consultant and I know better. The whole plan was so smooth I could not doubt it. Bitcoin is actually a great investment option but one thing I discovered over time is that it is not possible to mine bitcoin so don’t be deceived. I invested $25000 on a particular website called eurekaminingblock, I monitored the profit yielding but was told to open a new blockchain account to receive my payout. A public wallet was imported into the account and I was made to believe that was my profit. The bitcoin was labelled non spendable and it took me 2 years to be able to access it without the knowledge of the company. The non spendable bitcoin is the scam out there now and a lot of people are falling victim of it. I found Zion Romero (a recovery expert and trader) on Quora who helped me access a significant part of my investment together with the profit without the knowledge of the company. You can reach him through his email : { REMOTESPYTECH (@) GMAILCOM } Email: REMOTESPYTECH (@) GMAILCOM WhatsApp: +13523543740

ZINO

19th Jan'22 11:44:43 AM

Have you gotten yourself involved in a cryptocurrency scam or any scam at all? If yes, know that you you are not alone, there a a lot of people in this same situation. I was a victim of a cryptocurrency scam that cost me a lot of money. This happened a few weeks ago, there’s only one solution which is to talk to the right people, if you don’t do this you will end up being really depressed . I was really devastated until i sent a mail to a recovery expert who came highly recommended – FASTFUNDSRECOVERY@PROTONMAIL.COM. I started seeing some hope for myself from the moment i sent them a mail. The good part is they made the entirely process stress free for me, i literally sat and waited for them to finish and i received what i lost in my wallet……>

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14th Jan'22 10:35:43 PM

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Eve Lockie

10th Jan'22 02:23:34 PM

Losing money in the form of lost bitcoin is very easy these days and has also become quite common, a slight mistake is all it takes and we are actually all prone to making mistakes. Money lost to investment portfolio can definitely be recovered with the help of an expert. I was able to get my lost coin recovered recently with the help of ‘jimfundsrecovery at consultant dot com’ He’s professional and i recommend him to anyone who may need help recovering lost funds as well.

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8th Jan'22 10:03:08 AM

About us We are well known Israeli Bitcoin activists since 2013, developing open source projects and helping community members restore their funds for many years now. We would never jeopardize the trust we built for years within our community. For some wallet types and with technical guidance we can extract just enough data to decrypt your password but not enough data to access your private keys. In other cases of crypto theft, we trace the transaction on blockchain. it will require you to send us all relevant information including the information that will eventually and successfully restore your funds. Our Services:: Wallet Recovery, Private key recovery, Online scam recovery, Mnemonic Phrase Brute Force Cracking, Hardware scan or recovery, Contact:: RECOVERY101@CYBERDUDE.COM

Jerry Norton

1st Dec'21 12:59:31 PM

Hello, i would like to share my experience with you all, I lost a huge $ to all these fake so called BO merchants, after several attempts in trying to recover my money all efforts failed, i was looking through the page of the internet then i saw a recovery expert that were recommended as a good and reputable company so i reach out to them, to my surprise i was able to recover all my funds. Jimfundsrecovery At consultant Dot com.