FX.co ★ Standard chartered analysts predicts Bitcoin price hitting $100k in 2021

The price of Bitcoin keeps dropping. The major cryptocurrency now trades at $44,400, but it is clear that Bitcoin continues to go mainstream and adapts in many countries.

Seety, a digital parking startup based in Belgium, has introduced Bitcoin and other crypto payments such as Etherium and Dogicoin for parking spaces in Antwerp and Brussels. This app has over 355,000 users in the Netherlands, France, and Luxembourg. The company expects to generate gross sales of 400,000 euros by 2021.

Seety is positive about bitcoins and other cryptocurrencies. The company believes that in the near future digital currency will become environmentally friendly. Seety is interested in collaborating with Bitcoin and helping customers with crypto-oriented interests.

The e-commerce portal shop.com is now partnering with BitPay, a Bitcoin payment service provider. This portal allows customers to select the BitPay option during checkout to pay via their crypto wallets. Currently, users have the option to pay with Bitcoin, Ethereum, Dogecoin and Litecoin.

Worldline is another Swiss company that has joined the cryptocurrency industry. More than 80,000 Swiss merchants can now accept Bitcoin and Ethereum as payment. Global cinema chain AMC Entertainment announced that their US movie theaters would begin accepting bitcoin as payment for tickets and concessions. Bitcoin and many other altcoins are beginning to be used in many countries at an astonishing rate.

In this regard, many analysts from Standard Chartered predict that the price of digital currency will hit the record high of $100,000 by the end of this year. And next year, Bitcoin may rise to $175,000. As for Ethereum, analysts predict that its price will be between $25,000 to $35,000.

Analyst Jeffrey Kendrick is confident that this is a reasonable price for the most promising digital asset on the market, given its production effectiveness, development dynamics, and proprietary network. However, for Ethereum to reach that price, Bitcoin must also be worth at least $ 100,000.

Kendrick believes Bitcoin could become the most dominant means of payment for people who don't want to deal with bank services and deposits, but want to continue using a cashless method of payment.

According to StanChart, Ethereum and Bitcoin have a lot of similar characteristics, although the Ethereum blockchain is much more efficient, since they have smart contracts, decentralized financing, NFT, and so on. However, analysts still believe that the potential profit from Ethereum could be higher for investors, but the risks could also be enormous.