It’s possible that Bitcoin (BTC) may hit festive $100,000 by the end of 2021 as a result of its recent spike in mid-October. Bitcoin reached a new all-time high in early November, and it is presently trading above $63,000 USD. There is also an incredible array of altcoins and token currencies that appear daily that aim to compete with this behemoth, for example, Shiba Inu (SHIB), Dogecoin (DOGE) and HUH Token.
Bitcoin was the world’s first cryptocurrency to gain widespread acceptance. People may transmit digital dollars to one another over the Internet in a direct and safe manner using the decentralise Bitcoin cryptocurrency and blockchain. Any two individuals anywhere in the globe may transmit Bitcoin to each other without a bank, government, or other financial entity becoming involved.
Whilst Bitcoin holders remain bullish on the digital currency, many central banks and major financial institutions are starting to believe in Bitcoin too and are providing their clients with access to trade Bitcoin or invest in BTC via exchange-traded funds (ETFs) and other types of exchange.
There has been a considerable amount of speculation from apparent and well-regarded experts, and pricing algorithms guess that the price of Bitcoin may rise to as much as $120,000 by Christmas 2021. That would represent a gain of about 100 per cent over the current value of the original cryptocurrency’s value. However, it seems that there are just as many credible experts who are predicting a price correction for bitcoin in December as there are bullish analysts.
Early this year, El Salvador made Bitcoin the official currency of the whole nation, marking the first time in history and in the United States of America, the mayors of Jackson, Tennessee, and Tampa, Florida, have pledged to convert their next salaries into bitcoin.
The mayor of Miami was the one who started this trend, and he was followed by the mayor-elect of New York City, Eric Adams.
Just last week, on November 5, a draught measure aiming to enable Brazilian employees to be paid in bitcoin was brought to the country’s Deputies Chamber, which will consider it.
A recent report indicating the potential of a Bitcoin futures ETF clearance by the US Securities and Exchange Commission has contributed to the price increase of Bitcoin.
In a statement released recently, Federal Reserve Chairman Jerome Powell said that the United States is unlikely to outlaw Bitcoin or other lawful cryptocurrencies.
This disclosure allayed many of the greatest anxieties of Bitcoin holders, and it has helped to keep investors’ confidence in the cryptocurrency.
Recent monetary policy initiatives taken by the United States have caused a stir, and when paired with the growing government deficit, they pose a danger to the long-term viability of the United States fiat currency.
Bitcoin has the potential to serve as both a wealth-accumulation vehicle and a bet against the fall of the dollar.
Due to the restricted quantity of Bitcoin, which many have compared to “digital gold,” this is the case.
While it is impossible to predict when fear, uncertainty, and doubt will arise in the news, if there are no significant adverse events, Bitcoin might be on its way to $100,000 by New Year’s Eve, according to some analysts. Another digital currency that is set to launch this festive season on December 6, next week, is HUH Token.
The HUH Token is a ‘Utimeme’, a digital currency that combines utility and meme potential. There is a built-in recommendation system on the smart contract of this token that permits the holder who gets the HUH Tokens to then recommend any number of people who do own HUH Tokens using a code that you get upon buying the token. This referral gives the referrer 10 per cent of the receivers first purchase. Depending on the exchange used, decentralised or centralised, for the transaction means that the 10 per cent is allocated as either Binance Coin or another digital currency. This is important as it allows these referral users to hold more than one type of cryptocurrency and not only create passive income but also to develop stability in those wallets.
When analysing a new cryptocurrency, stability and security are fundamental in a successful project. The HUH Token has allocated a large amount of money in comparison to other budding projects for liquidity. With $1,000,000 of liquidity that has been sealed in for at least two years, this liquidity will allow for secure trading between the two exchanges where the token will be accessible, Uniswap and PancakeSwap.
Certik is currently auditing this cryptocurrency, and it is anticipated to be completed by the end of this week. This coin has also obtained audits from Shellbox and Solidity Finance already. The white paper for HUH Token is set to be presented this week, which will aid in establishing the brands’ objectives and functionality. HUH Token is exiting its presale in a few days and has witnessed an astounding volume of deposits that are close to ending.
A new cryptocurrency that seems to be struggling is EverGrow Coin (EGC). They are down 40% in the last twenty-four hours after their AMA this Sunday. There seems to be some dissatisfaction with the design of their new platform Crator and rumours that have been started about where personal investments are going. Cryptocurrency can be extremely volatile, and it is always wise to take extra precautions when investing your money. This article is for educational purposes and is not financial advice.
Follow HUH Token on their Socials before they Launch:
Website: https://huh.social
Telegram: https://t.me/HUHTOKEN
Twitter: https://twitter.com/HuhToken Instagram: https://www.instagram.com/huhToken/
