Will Bitcoin Rebound Before 2021? Experts and Indicators Predict Different Outcomes

• Bitcoin price has remained flat in the past 24 hours, with a current price of $16,796 and a 1% increase in a week.
• Tim Draper believes that Bitcoin could reach a price target of $250,000 by the middle of 2021.
• Technical indicators suggest that a rebound is overdue, with the relative strength index languishing below 50 and the 30-day moving average below the 200-day.

The world of cryptocurrency has been in a state of stagnation as of late, with Bitcoin stuck at its current price of $16,796 for the past 24 hours. This 1% increase in a week is certainly welcome news, but it’s a far cry from the all-time high of $69,044 set back in November 2021. The past months have seen Bitcoin take a 75% hit, leaving many industry experts wondering when the world’s first cryptocurrency will experience a much-needed rebound.

Tim Draper is one of these experts, with the long-term bull forecasting that Bitcoin will reach a price target of $250,000 by the middle of 2021. He believes that this rally is yet to be aided by institutional investment and adoption, and that once these factors come into play, Bitcoin could well reach his ambitious target.

Technical indicators also suggest that a rebound is overdue for Bitcoin. Its relative strength index (purple) has languished below 50 since early November, while its 30-day moving average (red) has remained well below its 200-day (blue) since the start of last year.

Despite the optimism of some, there are those who believe that Bitcoin will experience a few more falls before it sees light at the end of the tunnel. Analyst Clem Chambers is one such figure, with his forecasts suggesting that BTC will bottom out at $13,000.

It remains to be seen which of these forecasts will be accurate, but one thing is certain: the future of Bitcoin is highly unpredictable. With institutional investment and adoption on the way, the cryptocurrency market could well be on the brink of a major shift. For now, we can only wait and see what the future holds for the world’s first cryptocurrency.

Explore a New Metaverse With RobotEra: Decentralized & Fun!

RobotEra is a new metaverse that is taking the world by storm with its promise of making a metaverse that is far more enjoyable and comes with far more utility than metaverses of the past.
•It is planning to introduce a series of games within their metaverse in order to offer more utility.
•At the core of the team’s ethos is that decentralization is important not only for the future growth of the project and to eliminate single points of failure but because decentralizing the governance of the RobotEra metaverse ensures the longevity and adaptability of the project.

RobotEra is an exciting new metaverse that is quickly gaining traction as people become aware of the amazing opportunities it has to offer. It offers users the chance to build their own cities and planets with robots, and its incentive structure helps to draw in gamers and keep them interested. The team behind RobotEra also has a strong focus on decentralization, believing it is important to ensure the future growth of the project and to eliminate single points of failure.

In order to increase the utility of the RobotEra metaverse, the team is introducing a series of games within the metaverse. This means that people will be more likely to spend more time in the metaverse and participate in an entire in-game economy, something that wasn’t hitherto possible. To ensure the longevity and adaptability of the project, holders of TARO tokens can vote on future developments and changes that are made to the RobotEra metaverse as part of the RobotEra DAO.

The development of the RobotEra metaverse has been met with a lot of excitement and anticipation, and it looks set to become one of the most popular metaverses in the coming years. With its strong focus on decentralization, its games and in-game economy, and its voting system, it could easily 10x in 2023 as more and more people become aware of its potential.

Michael Saylor Invests $42.8M in Bitcoin, Expands Holdings to 132,500 BTC

• Michael Saylor, the founder and former CEO of software firm MicroStrategy, recently purchased 2,395 bitcoins for about $42.8 million.
• The purchase was made with cash at an average price of some $17,871 per bitcoin, inclusive of fees and expenses.
• Following the transactions, the business expanded its bitcoin holdings from about 130,000 bitcoins to about 132,500 bitcoins.

Michael Saylor, the founder and former CEO of software firm MicroStrategy, continues to demonstrate a bullish approach to bitcoin (BTC) with his latest investment of about $42.8 million in the top crypto. In a recent filing with the Securities and Exchange Commission (SEC), the business disclosed a purchase of about 2,395 bitcoins made with cash, at an average price of some $17,871 per bitcoin, inclusive of fees and expenses.

The firm has also sold some of its crypto assets over the past week with the aim to optimize its taxes, as indicated by the filing. On December 22, 2022, MacroStrategy sold approximately 704 bitcoins for cash proceeds of approximately $11.8 million, at an average price of approximately $16,776 per bitcoin, net of fees and expenses. MicroStrategy plans to carry back the capital losses resulting from this transaction against previous capital gains, to the extent such carrybacks are available under the federal income tax laws currently in effect, which may generate a tax benefit.

On December 24, 2022, MacroStrategy acquired approximately 810 bitcoins for approximately $13.6 million in cash, at an average price of approximately $16,845 per bitcoin, inclusive of fees and expenses. Following the above-mentioned transactions, the business, together with its offshoots, expanded its bitcoin holdings by 2,500 bitcoins, from about 130,000 bitcoins as of October 31, 2022, to about 132,500 bitcoins as of December 27, 2022.

Michael Saylor, who has been an avid supporter of bitcoin and its underlying technology, has been vocal about his investment in the cryptocurrency. He has previously stated the crypto can provide a hedge against inflation, and that it is a “legitimate store of value” and a “verifiable form of wealth storage”.

Saylor’s bullishness is in line with the growing institutional adoption of bitcoin. The cryptocurrency has seen an influx of institutional investors over the past year, with the likes of Square, PayPal, and MicroStrategy all investing in the digital asset. These investments have helped to push the price of bitcoin to new highs, with the crypto reaching a new all-time high of over $40,000 earlier this month.

It remains to be seen if Saylor’s latest investment will pay off, but it is clear that he is confident in the long-term prospects of bitcoin.