“In a year of economic uncertainty, bitcoin didn’t waiver, outperforming the likes of gold and other stocks and shares. We have seen weeks of exponential growth and new all-time highs, but the crypto market has also taken brutal hits – all within the first month of 2021. As a result, price predictions are all over the internet.
“Venture capitalist Tim Draper says ‘Nothing is steady when one technology supersedes another. As bitcoin eclipses the government currencies and the banking system, there are going to be many fits and starts.’”
Cryptocurrencies like bitcoin are still a new alternative asset class and ongoing volatility is expected. A longer-term view shows crypto to be on an upward trajectory even with massive price drops.
Luno says it has witnessed record volumes on its exchange in recent weeks, and recently reached the milestone of 6 million wallets (customers) across more than 40 countries. “Our view on crypto in 2021 is decidedly upbeat.”