Richard Byworth, CEO of Diginex, a blockchain-focused investment company listed on Nasdaq, made important Bitcoin statements. Speaking to Cointelegraph, Byworth stated that Bitcoin was experiencing a tremendous rally that allowed it to surpass $ 35000 in a short period of time, and this was due to the limited supply of BTC. Bitcoin is in the process of starting a “post-bull, new bull cycle,” according to Byworth. “The demand side of this equation has been accelerated by investors looking for massive bank incentives and safe deposits of value against rising monetary inflation. As a result, most financial institutions are currently evaluating their size for Bitcoin positions. As these participants hold Bitcoin, it leads to large withdrawals. We are experiencing a crisis on the supply side of Bitcoin. ” “Altcoins will perform extremely well, and retailers who think they ‘missed bitcoin’ will try to find ‘the next bitcoin’ and the next 1000x,” said Diginex CEO.”ETH is trying to catch up with Bitcoin and is one of the only viable smart contract networks currently actively approved by the SEC. Continuing to focus on stablecoins after the OCC announcement likely benefits ETH as most of them are on the Ethereum network. “
What Will 2021 Bring For Bitcoin And Cryptocurrencies?
“As I said, we are at the beginning of the bull cycle; 2021 will provide returns that will likely be shocking to some people. Bitcoin will be over $ 100,000 at some point throughout the year, and altcoins will likely follow. “
P.S: This is not an investment advice.