Singapore based Bityard offers both spot and contract trading for all top cryptocurrencies. The exchange, launched in 2019, has established itself as a top global digital asset exchange within a short time period. Presently Bityard is providing service to customers in more than 150 countries in a hassle-free manner. The smooth user interface and low trading fees of Bityard are attracting new users every day and a newbie can get onboarded with a few clicks. Before investing, it is very important to analyze price movement and form a judgment. Let us predict the price movement of a few top cryptocurrencies in the first quarter of 2021.
BTC Price Prediction Q1 2021
The US government is going to launch another COVID-19 stimulus and most probably we are seeing the tip of the iceberg of the global economic crisis. Investors across the world are rushing to buy Bitcoin and the number one cryptocurrency is being compared with the cult safe-haven asset gold. Bitcoin dominance is at 1-year peak currently and numerous corporates and hedge funds are obtaining BTC positions on a large scale. Paypal launched a new service in the US enabling users to buy, hold and sell Bitcoin and it created a sudden upsurge of demand for BTC. BTC found its new ATH of $41,940 on Jan 08, 2021, but dropped a bit after that. It is very clear that the BTC bulls are buying the dips and BTC can hit $100,000 in the long-term. We can expect the price of BTC above $50,000 by Q1 end.
ETH Price Prediction Q1 2021
The first stage of Ethereum 2.0 (Beacon Chain) went live in December 2020. Ethereum 2.0 news has definitely excited the market as ETH, the second-largest cryptocurrency as per market capitalization will move from proof-of-work (PoW) to proof-of-stake (PoS). CME Group, one of the largest financial derivatives exchanges, is launching its ETH derivative product in February 2021. Till now, the institutional investors did not focus much on Ethereum. With the launch of the CME derivative, significant institutional money flow is expected into ETH. ETH/BTC pair looks strong and due to the growing demand of ETH in Defi or decentralized finance, ETH outflow from the centralized exchanges has increased. ETH 2.0 deposit contract is also growing with locked ETH and it is important to note that the deposit contract is a one-way contract i.e ETH won’t come out of it very soon. Overall, ETH looks very bullish and it has the potential to outperform BTC in 2021. ETH has not surpassed its ATH of 2017 yet and we may see a massive rally. We can expect ETH price in the range of $1600-1800 by Q1 end. Parabolic price projections of ETH reaching $10,000 are already flooding the internet.
DOT Price Prediction Q1 2021
Polkadot, a flagship project by Web3 foundation, really created steady waves in the market since its launch in August 2020. DOT, the native cryptocurrency of Polkadot, replaced XRP from the third slot of top cryptocurrencies as per market capitalization. DOT is receiving wonderful investor attention due to its strong interoperability approach and robust blockchain performance. Many investors are locking their DOT for attractive staking APY of 13.85% for long term. The ecosystem of Polkadot is still developing and so, we can expect some price swings for DOT. This happening cryptocurrency reached its ATH of $19.05 on Jan 16, 2021. DOT looks bullish in the long-term and its big potential is undisputed. By Q1, we can expect DOT price in the range of $24-28.
Please note that these price predictions should not be used exclusively for a purchase decision. The opinions are usually based on technical analysis which does not consider external factors often. Please do your own research based on our opinions to have your own judgment.
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