There are many indications that later this year Bitcoin will fight its way to the ATH level of $20,000 on the chart. That's how much it last cost in 2017. It is increasingly possible to hear predictions that the cryptocurrency will repeat the pattern of nearly four years ago and start a new speculative bubble soon. So will bitcoin reach a new ATH in 2021? And if so, at what level? We asked three Polish experts about the future of digital currencies. Bitcoin with a new ATH in PLN At the outset, it is worth remembering that yesterday on BitBay the price of BTC hit the level of as much as 70 000 PLN. Today, for 1 BTC one should pay as much as 70 400 PLN. It is possible that this is not the end of the increases. In dollars, the price is only at 18 700 USD. So there is still 130 USD left to ATH. Bitcoin likes bubbles Taking advantage of the fact that the end of 2020 is slowly approaching, we asked three experts about what they expect in the next year. The first one we asked this question to was Jakub Moscicki of Trading Jam Session. "BTC is known for liking to form bubbles. The trading history of Bitcoin is a history of speculative bubbles. Soaring highs and equally spectacular lows punctuated by 'dead cat' rebounds. Will it be similar this time? Everything points to it". - Mościcki claims. Unfortunately, there is also a bit of tar in this barrel of honey: "Without widespread acceptance to give Bitcoin some stability and grounding in reality, it will be doomed to purely speculative moves. If we don't see this widespread adoption then BTC will continue to be subject to the same laws as before: when the enthusiastic buyers end, the bubble ends." Finally, we were given a little investment advice: "Such bubbles almost always end whenever the street starts to get into the assets in question, i.e. the anecdotal example of the barber and the cab driver - if we hear about something on the evening news, it is far too late to invest." Bitcoin at $150,000 Robert Wojciechowski, president of the Chamber of Commerce for Blockchain and New Technologies, is less certain about the future, however: "The increase in the value of Bitcoin is generating interest in digital currencies among existing participants in this market, but also completely new ones, as confirmed by the statistics of search terms BTC and Bitcoin in Google. What's next is a good question, but I always say it's a bit of fortune telling. Today we are above $18,000 for 1 BTC, but what happens next depends on a number of factors, such as the long-awaited reaction to the addition of national currencies, especially the USD, or December's formal change of president in the US. This could be one of the factors determining the value of BTC, but only in the short term. However, I believe that until that key date, December 14, the value will rise, albeit not a decisive jump. Further out, of course, there could be a brief decline and a return to much higher values around $40,000 in the spring or, with the market reacting to policy changes, an earlier upward push in the price as well. At the end of the 2021 semester, however, I would expect a price decline from the new ATH and a return to a short-lived rise at the end of 2021 for that more impressive than now. However, if I am to divine, I do not expect the price to be higher than 50% of Citibank's forecast, i.e. approx. USD 150,000. Let me just remind you that I am not an expert on rate analysis and a trader." In fact, CitiBank analyst Tom Fitzpatrick predicts that the BTC exchange rate will rise above $300,000 within 12 to 24 months. - Bitcoin is the new gold and a solid hedge against inflation, he points out in his analysis. Doesn't this sound too optimistic? We asked another person from the Polish cryptocurrency market for his opinion. A bubble different from the previous ones We next addressed Jacek Kubiak of Litpay, Satsback and inpartes.pl. "First of all, I would like to warn you that I am not fond of price questions and I try to look at Bitcoin on a long-term basis" - he pointed out right away. However, he continued his argument: "In a year's perspective these are speculations, perhaps supported by close (and subjective) observation of the market and its participants, but nevertheless still just speculations. In my opinion, we can nevertheless expect something different than we had during the last price rally. A longer up market is likely ahead. The price will rise in a more stable and balanced way, mainly because of who will be entering the market, and I expect that it will mostly be large companies, institutions and larger investors who do not get carried away by emotions but build their positions in a consistent and balanced way." Despite this, however, emotions are not to be lacking: "Of course, there may be moments of stronger increases, decreases or longer consolidations, while still next year I do not expect a parabola like at the end of 2017, if it happens at all." To this, he points out that much more interesting things could be happening at the level of fundamentals and technology itself: "From a technology perspective, I'm very pleased to see that in the ¶
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