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Bitcoin Price Prediction 2021 UK

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Bitcoin price prediction

Analysts at Fundstrat Global Advisors have predicted that the price of Bitcoin could rise to $ 168,000 (£ 122,000) by the end of 2021.

However, cryptocurrencies are known to be volatile, which means that their price may collapse again. That is why they are such a risky investment.

John Cunliffe, the BoE's deputy governor for financial stability, warned earlier this week that a "massive collapse in crypto prices" was a "reasonable scenario."

Referring to bitcoin, he added: “When something in the financial system is growing too fast and is growing in a largely unregulated space, financial stability authorities have to sit down and take notice.

Read moreWhy are there several types of Bitcoin? And what is the difference between them?

Regulators internationally and in many jurisdictions have started to work. It must be carried out urgently. "

Despite the recent price rally, it is important to be aware of the currency's volatility, which has seen significant ups and downs throughout Bitcoin's history.

People invest at their own risk and bitcoin and other cryptocurrencies are not regulated by the British financial authorities.

The Financial Conduct Authority (FCA) warned in January: "Investing in crypto assets, or associated investments and loans, generally involves very high risk with investors' money.

"If consumers invest in these types of products, they must be prepared to lose all their money."

Susanna Streeter, Senior Market and Investment Analyst at Hargreaves Lansdown previously explained the risks to i.

"In addition to being highly volatile, most cryptocurrencies are unregulated, which not only adds another layer of uncertainty, but also means that investors have little to no protection against fraud," she said.