Bitcoin could see higher highs in New Year 2021.
In fact, analysts say Bitcoin could rally well beyond $100,000.
Citibank for example says we could see $318,000 BTC in 2021. Guggenheim is calling for a valuation of $400,000. JP Morgan says it could rally on a $600 billion catalyst, which includes just a 1% allocation from global pension funds and insurance companies.
Other cryptocurrencies have gone along for the ride, like Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Cardano (ADA), and Binance Coin (BNB). Most could move even higher from here, as the crypto story regains momentum.
The one coin investors may want to avoid – at least for now – is XRP.
XRP investors just watched the crypto plummet 60.5% to less than 20 cents. All after Coinbase announced it would suspend trading on XRP starting Jan. 19, 2021 at 10am PT.
According to Coinbase Chief Legal Officer, Paul Grewal, “In light of the SEC’s lawsuit against Ripple Labs, Inc., we have made the decision to suspend the XRP trading pairs on our platform. Trading will move into limit only starting December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 a.m. Pacific Standard Time.”
The US SEC just charged Ripple and two executives with conducting $1.3 billion unregistered securities offering. “The complaint alleges that Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide. Ripple also allegedly distributed billions of XRP in exchange for non-cash consideration, such as labor and market-making services,” notes the US SEC.