For everyone in the crypto space, particularly traders and investors, there is usually a certain level of expectation placed on the coins of interest. This is not uncalled for, as expectations are built for every investment made in the world of finance, the cryptocurrency market inclusive.
Bitcoin (BTC) and other digital currencies out there are still a relatively young asset class. Adoption has been steady over the years but it may be difficult to agree whether the speed with which this adoption is achieved is on track or not. The adoption has nonetheless stirred the crypto project, built to serve as a replacement of the digital payment ecosystem of centralized authorities to space wherein investors flood into.
The crypto project is still relatively intact, in fact, the relevance has been multiplied by virtue of the demand placed on BTC, as well as other cryptocurrencies in the space. The interest being shown by investors is based on the tendency for the variety of digital assets invested in to multiply over time, and as we have seen, by multiples not seen before in the world of traditional finance (Stock markets, Foreign exchange markets, etc).
Bitcoin is undoubtedly the most recognized digital currency today and is the flagship coin being backed en-mass by both retail and institutional investors. The cryptocurrency began the year 2021 on a very bullish and promising note, attracting funds from new investors including electric auto giant Tesla Inc.
A fundamental part of the expectations being placed on Bitcoin is to outpace its own set benchmark which should be multiple times better than the $20,000 range it began the year with. BTC has led a series of pull-backs majorly caused by sell-offs from some investors, but large and by, it has maintained a relatively steady growth thus far.
Just as different people’s investment portfolio differs, so also does the expectations on BTC differ. While the early Bitcoin purchasers are coasting away in profits at this time, those who bought the coin at the top have a relatively higher expectation for Bitcoin to grow by a reasonable percentage to see their capital and possibly, a fair return.
A Twitter user, @TheCryptoLark recently said that BTC’s last all-time high of “$58,640 is not the top for #bitcoin,” adding, “we are going to 6 digits this year.”
Besides Lark, others in the space have their own expectations too.
Satoshi Nakamoto, the unmasked inventor of Bitcoin has the most fundamental and futuristic target for Bitcoin. His basic target is that the digital currency continues to gain traction for what it was primarily set to do, that is, to provide decentralized, fast, secure, and costless transaction alternatives to what is on offer today.
Whoever Satoshi is, he will be more fulfilled seeing Bitcoin is not only meeting his own target but also beating as many adopters targets as possible. As the cryptocurrency ecosystem attains maturity, Both Satoshi and other pro-Bitcoin investors will relish a target that will see Bitcoin gain more adoption, and increase in its price value respectively.