Bitcoin’s price breaks R$ 120 thousand and should continue ’strong rise‘, according to Coinext CEO

José Artur bets on the valorization of cryptomoeda and points out that analysts forecasts show that the price of Bitcoin can reach $100 thousand in 2021.

The price of Bitcoin (BTC) broke historical record on Thursday (17), when it was quoted for the first time in the market at $ 120 thousand. According to the CEO of Coinext, José Artur Ribeiro, cryptomoeda should continue a ’strong rise‘ until the end of 2020, and may extend this upward trend until 2021.

In a forecast of Bitcoin Millionaire price in the market, Ribeiro bets that by the end of 2020 cryptomoeda will be quoted above US$ 24 thousand, or a little over R$ 121 thousand.

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So, with only two weeks to go, Coinext CEO’s guess crosses 2020 and points out that next year Bitcoin price can reach until US$ 100 thousand in the market, according to analysts forecast.

Bitcoin price will rise

The current scenario of the cryptomoedas market reveals a timely moment of appreciation for the price of Bitcoin. In the last few days cryptomoeda has broken records, not only in reais, but also in US dollars.

Therefore, for the first time in history the price of Bitcoin was quoted above this value, with the historical record being broken in about US$ 20 thousand. Meanwhile, in the BRL/BTC pair, cryptomeda reached R$ 120 thousand.

According to José Artur Ribeiro, the breaking of the resistance in US$ 20 thousand can be considered a „historic milestone for Bitcoin“. In addition, by exceeding this value BTC faces „a totally new terrain“.

„We are in a historic milestone for Bitcoin. Exceeding $20,000, which until then represented a significant resistance, is a totally new terrain for cryptomeda, which could open for a climb in 2021. And this is reflected in reais“.

Forecast for 2021

Soon after breaking US$ 20 thousand in the market recently, this Thursday (17) the price of Bitcoin approached US$ 24 thousand for the first time, at the same time that cryptomeda exceeded R$ 120 thousand in Brazil.

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Thus, by the end of the year the price of Bitcoin should remain close to the historical top recorded today, for the CEO of exchange Coinext. In other words, the quotation of cryptomeda can remain around US$ 24 thousand in the market.

„My guess is that it reaches the US$ 24 thousand which was almost reached this Thursday (17), or more. I believe that we are at the beginning of a strong rise“.

On the other hand, when talking about how the price of Bitcoin will perform in 2021, Ribeiro points out that there are some forecasts that expect a price of up to US$ 100 thousand.

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In addition, the CEO of Coinext recalls that currently the price of Bitcoin is experiencing a different moment from that of 2017, when cryptomoeda approached US$ 20 thousand for the first time in the market.

„Some analysts predict that Bitcoin will reach US$ 100 thousand in 2021. Unlike December 2017, in the last Bitcoin ATH, we realized that today the exchanges market has become more professional and clients have much more knowledge about investments in cryptoactives“.

Cryptomoedas in Brazil

The adoption of cryptomorphs in Brazil tends to grow in 2021, according to José Artur Ribeiro’s forecast. Coinext’s CEO is betting on market growth in the country, driven by investments in cryptomaps.

On the day Bitcoin’s price broke the record of US$ 20,000, Coinext traded about 100 BTC units on the exchange. Meanwhile, at the OTC counter, in the last 24 hours the platform traded 120 Bitcoins.

„I believe that the Brazilian market will grow considerably in 2021. Brazilians have started to look more at investments, and cryptomoedas have become more and more part of the portfolio“.