Bitcoin has been on a bullish trend for some time now, with its price reaching new multi-month highs. This positive momentum is only being reinforced by the introduction of new Bitcoin metrics that further support the digital currency’s upward trajectory.
One such metric was revealed recently by an analyst who suggested that BTC could reach $23,000 in 2021 if it follows certain market trends and conditions. The analyst believes this could be achieved through a combination of increased institutional demand, increased retail adoption and an increase in liquidity from exchanges. He also noted that these factors are already beginning to take effect as evidenced by recent trading volumes which have seen significant increases over the past few weeks.
The news has been welcomed warmly among crypto enthusiasts who see this as confirmation of their belief in Bitcoin’s potential for growth going forward into 2021 and beyond. With more investors entering the space than ever before, there is certainly reason to be optimistic about where BTC will go next year – especially given how far it has come since its inception back in 2009!