For people in the cryptocurrency and blockchain communities, 2020 finally shows the true potential of blockchain technology. Compared with the development process of blockchain technology and Bitcoin (BTC), there will be more events that will have a lasting positive impact on the crypto industry in 2020. The following is an inventory of the important events of cloud mining cryptocurrency 2021.
Cloud mining cryptocurrency 2021: Bitcoin prices have repeatedly hit record highs, exceeding $66,000
During the bull market from 2017 to 2018, Bitcoin broke the historically high price of $20,000. In April of this year, Bitcoin exceeded $64,000. Now, even the $66,000 mark has been broken. More importantly, the well-known pricing model S2F (stock-to-flow) created by cryptocurrency analyst PlanB shows that the prediction that the price of Bitcoin will reach $100,000 is being realized.
The price of Bitcoin has gradually changed market perceptions. The shift in demand from retail investors to institutional investors proves this.
Bitcoin has attracted many well-known companies. These companies have entered the Bitcoin market for their own different needs. From companies that choose to hold Bitcoin as reserve assets, such as Bitwise and Grayscale, to today, even Bitcoin ETF futures. The fund is also listed for trading.
Cloud mining cryptocurrency 2021: PayPal launches cryptocurrency payment services
The basic idea of PayPal at the beginning of its establishment was similar to that of Bitcoin itself. The company not only announced that it would enter the encryption field but also entered this field in 2020, at least in the U.S. encryption field. In addition, according to reports, PayPal is now one of the largest buyers of Bitcoin because the company is increasing its reserves of Bitcoin to meet customer needs.
For ordinary users, cryptocurrency is very difficult to understand, all cold wallets and hot wallets, passwords, 12-word recovery phrases, and so on. PayPal provides a simple and easy-to-use way to enter the encryption field. Once this method is implemented, some people may fully explore how to use this technology.
Cloud mining cryptocurrency 2021: Bitcoin halving
Bitcoin mining reward halving occurs approximately every four years, which means that the Bitcoin reward received by miners for digging a block is halved. This is a hard rule of Bitcoin blockchain coding, which limits the supply of Bitcoin to 21 million, which mimics the property of a limited supply of gold.
In the end, the trend of cloud mining cryptocurrency and the price and fundamentals of Bitcoin in 2021 were hardly affected. This fact has led some people to believe that Bitcoin has reached a certain degree of maturity. Perhaps it is this flexibility that has finally caused some of the largest companies, economists, and investors to reconsider their overall view of cryptocurrencies.
Cloud mining cryptocurrency 2021: Ethereum and DeFi
Bitcoin has investors, Ethereum has users, and Ethereum has accelerated its pace in recent years, making the prosperity of decentralized finance a reality, looking for use cases for all decentralized applications, which have been considered to have changed the game ecology for a while.
More importantly, after several long delays, the Ethereum 2.0 upgrade has finally started. The combination of ETH 2.0, the recent renewed interest in alternative currencies, and the DeFi boom has undoubtedly renewed interest in Ethereum and its token ETH itself and has pushed the price of ETH and cloud mining cryptocurrency 2021 to nearly two. The highest level in the past year, even close to the highest level in history. Now, some people have determined that ETH will soon exceed $10,000.