Home Bitcoin News BTIG says cryptocurrency 'comes of age,' puts $50000 target on bitcoin for 2021 – CNBC

BTIG says cryptocurrency 'comes of age,' puts $50000 target on bitcoin for 2021 – CNBC

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A girl touches an ATM machine for digital foreign money Bitcoin in Hong Kong on December 18, 2017.
Anthony Wallace | AFP | Getty Pictures

BTIG strategists say cryptocurrency has come of age, and bitcoin ought to attain $50,000 by the top of 2021.

Bitcoin surged to a new record Monday, topping its 2017 excessive of $19,800, in line with information from Coin Metrics. The unstable cryptocurrency crossed above $19,000 final week however fell again to about $17,000 on the finish of the week, earlier than bouncing again over the weekend.

The strategists initiated protection of digital belongings final week and stated the marketplace for digital currencies may be very totally different than when frenzied buying and selling led to a “blow-off” high in 2017. Since then, it has turn into accepted by main buyers, companies and governments, particularly China. Bitcoin additionally has a finite provide of about 21 million.

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