Below is a discussion of some of the most critical crypto events that happened in 2020. These events can play a significant role in the adoption of blockchain and digital currencies.
A news post on cointelegraph highlights some events that occurred in 2020 in the bull market. Probably it was an exciting year for many. But as far as the cryptocurrency market went, it was a year of rejoicing and positivity.
The cryptocurrency market rose like the Dark Knight among the ruins in the world. In this post, we want to discuss some of the major development in the Bitcoin BTC market that shook up everything.
Besides, it has been able to draw a lot of attention. There is no surprise that millions of traders and investors are joining in this year. Just for your information, BTC broke the $20000 mark that it did during the bull run in the January 2017 era.
After that, there wasn’t much activity for a few years. Within a week in January 2021, it was able to crush the $30000, and in a day, reach $35000.
Crypto Crypto News deals with crypto and crowdfunding had this to tweet about Bitcoin being bullish in 2020.
Many investors were not surprised because they knew that BTC could easily touch the $30000. Now some of them are making $45000 figure by the end of 2021. Besides, the infamous stock-to-flow model that gives a colossal prediction of a $100,000 price for Bitcoin.
PayPal launches the crypto option
PayPal was always going to relate itself to cryptocurrency. The company worked on similar ideologies about BTC. Now, PayPal is one of the largest buyers of Bitcoin. That translates to more than 28 million business individuals, along with 350 million users.
They are the custodian and are selling their shares in its BTC holding. Some users might not be familiar with the working of crypto. That does not matter because PayPal is giving easy-to-use methods to use it.
These days we see how many organizations decide to go public. They feel confident about doing it because it gives their investors a morale boost that things are going well with it. Additionally, firms that are dealing with cryptocurrency are not shying away today.
A notable example of that would be Coinbase joining in the action. Though many insiders did not expect it to happen, it eventually did. They did their work based on the regulation-open approach that they worked on.
Perhaps, they wanted to please the US regulators that time. That worked sublimely because investors were able to gain close to $28 billion. There are other choices like unicorns that are commonly used today, and it may pay off in the initial public offering.
Ethereum and DeFi
Market analysts have made a splendid discovery about Ethereum and DeFi. At the same time, ETH has more users; BTC consists of investors. This began in the month of July when Compound launched its token, COMP.
This became a new trend in DeFi. Many firms followed suit to what COMP did and immensely benefitted from it. The AMAs worked well for making transactions in tokens that brought in more users on the Ethereum blockchain.
What is going on is the million-dollar question in everybody’s mind? Prices have risen and fallen before and may happen with BTC. Only time will tell. For now, Bitcoin is untouchable. It is basking in all its sunlight, and we hope it does for a long time.