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BTIG says cryptocurrency ‘comes of age,’ puts $50,000 target on bitcoin for 2021

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A girl touches an ATM machine for digital forex Bitcoin in Hong Kong on December 18, 2017.

Anthony Wallace | AFP | Getty Pictures

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

Bitcoin surged to a new record Monday, topping its 2017 excessive of $19,800, in response to information from Coin Metrics. The risky 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.

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



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