Bitcoin and the whole crypto space have been exploding in 2020, and predictions say that 2021 will be even a better year for the emerging industry.
It’s been revealed by the online publication the Daily Hodl that the popular venture capitalist Fred Wilson said that the crypto sector is shaping to be one of the most important elements of the global economy.
Predictions for 2021
The Union Square Ventures CEO reviews 2020 and makes his economic predictions for 2021. He also made sure to point out to the economic devastation that lies in the wake of the Covid-19 pandemic.
As the online publication mentioned above notes, he touched on some of the sectors of the economy that have benefited from the viral disaster in the past year.
“While it is inarguably the case that 2020 was a terrible year with a global pandemic, racial strife and ugly politics in the US, and an economic downturn that is impacting exactly the people who have already been hurt the most, it was an inflection point for the tech/startup/VC/crypto sectors and a very significant one,” he said.
He continued and said: “These sectors, which had been growing in their global importance over the last twenty years, all of a sudden have emerged as the most important sectors of the global economy.”
Check out the complete post on the original blog.
Bitcoin has been hitting new ATHs in 2021
Bitcoin has been setting new ATHs in 2021. Needless to say, the crypto space could not be more thrilled to see this.
Bitcoin also suffered a slight correction when it dropped below $30k, but at the moment of writing this article, the king coin is trading in the green, and it’s up by more than 10%.
Taking to Twitter, CEO Ki Young Ju said the change signaled traders were “uncertain” and “scared” about the market’s “next move.”
This indicator is better than the Fear & Greed index.$BTC derivative traders are uncertain about the next move, and scared. https://t.co/6MdzR5jjBc
— Ki Young Ju 주기영 (@ki_young_ju) January 5, 2021
With fresh record highs, traders are more optimistic these days.