Bitcoin And Crypto Market Predictions for 2021. Will Decentralized Finance (DeFi) Take the Centre-Stage And Shape the Future of Finance?
We are just about to step in the Q4 2020 as crypto investors themselves prepare for the journey ahead. Historical trends clearly suggest that Q4 is where all the magic happens. However, if we have to look from the long-term perspective, we need to see some groundbreaking developments that will shape the development of crypto markets in 2021.
Bitcoin is, and will always remain as the defining force driving the crypto markets ahead in 2021. Dominating 57% of the overall cryptocurrency market cap, the world’s largest cryptocurrency continues to be the top pick for retail and institutional investors.
More importantly, the Coronavirus pandemic has brought some tectonic shifts in the global economy, and the importance of Bitcoin is realized more than ever. Bitcoin and gold continue to remain the best hedge assets for retail and institutional investors worldwide. Business intelligence firm MicroStrategy has recently confirmed that it has bought over 38,000 BTC tokens worth nearly half-a-million dollars over the last six months since the outbreak of the pandemic.
Wall Street continues to cheer as the stock market continues to rally with a single-handed push from the tech sector. However, many analysts agree to it that the valuations of giant tech companies like Apple, Microsoft, Amazon and Alphabet are far-stretched at this point, and could go south anytime soon.
Data Analytics firm Skew has shown that the correlation between Bitcoin and Gold is just growing further. Many analysts are confident that Bitcoin (BTC) price in 2021 will certainly breach its previous all-time high of $20,000.
Big financial companies are currently sitting with massive disposal cash in hand, and with inflation about to tick higher, Bitcoin remains as one of the best bets for them. Moreover, the infrastructure for Bitcoin trading and holding is much conducive for institutional players to participate. Big giants like Intercontinental Exchange (ICE) have worked with regulators to provide Bitcoin futures, custodial and cold storage solutions.
Decentralized Finance (DeFi) - The Hot Theme for Crypto Markets in 20201
Moving from Bitcoin, the cryptocurrency market will undergo major changes in 2021, and we expect the Decentralized Finance (DeFi) sector to lead the market.
DeFi has been the theme for 2021 as a number of DeFi tokens skyrocketed over the last few months. DeFi is completely changing the game when it comes to the ‘lending and borrowing’ market and we can expect the sector to see good growth over the next decade.
Different liquidity protocols continue to attract investors and the liquidity providers continue to draw handsome returns by lending. The total valued locked in DeFi protocols has already reached close to $10 billion. Yield Farming tokens have created much frenzy with their valuations skyrocketing.
DeFi in 2021 will certainly continue to draw attention and we expect this sector to mature as more big players join the bandwagon.
Online Bitcoin Casino’s Gaining Massive Traction - Thanks to Crypto and Blockchain
Online casinos and gambling is yet another sector that continues to evolve at a very fast pace. Several bad actors in the industry had ruined the image of the online casino market for years.
However, thanks to blockchain and cryptocurrencies which has helped to bring transparency, security and legitimacy while giving a big boost to online casinos. Several Bitcoin casinos and other crypto casinos have seen rising popularity.
Bitcoin continues to dominate the crypto casino market. Massive transaction volumes, fast transactions, and the elimination of other third-party intermediaries make Bitcoin the top-choice.
The surging popularity of Bitcoin Casinos in 2021 will take the online casino market further. Using Bitcoin wallets, users can quickly make deposits and withdrawals. A majority of the casinos just ask for users’ Bitcoin wallet address and lets them make instant payments using a QR code mechanism. Here’s a guide to casino that accept bitcoin in 2021.
This instant experience is very crucial to real-time online casino gaming and gambling. Similarly, users can also cash-out their winning amount by instant withdrawing in Bitcoins.
The advantage of using Bitcoin in online casino gaming is instant transactions, absolute security with the Bitcoin blockchain, and privacy. Moreover, with Bitcoins, the transfer fees and taxes are also limited which brings more convenience and peace of mind to users.
Some of the online crypto casinos also support other cryptocurrencies. However, the liquidity that Bitcoin offers is unmatched.
The United Kingdom has seen a good surge in online casinos for this year. A number of online crypto casinos have received licenses to operate with many projects planned for launch this month. Find new casinos for UK players at CasinoViking. You can get all the latest information in the world of online casinos, here.
Conclusion
With the growing demand and importance of Bitcoin and cryptocurrencies, we can expect 2021 to be a year where we see larger adoption. Moreover, with the rise in DeFi and online casinos, crypto transactions are bound to grow simultaneously.