Bitcoin (BTC) is likely to hit $60,000 in 2021 amid the growing mainstream adoption, according to an analyst at major financial publication Investing.com.

Jesse Cohen, a senior financial analyst at Investing.com, predicted that Bitcoin will likely achieve a $60,000 level in the starting time one-half of 2021.

According to Cohen, Bitcoin's growth in 2021 will be fueled past support from institutional investors combined with the "flush of ultra-inexpensive money existence pumped into the global financial system" by global central banks like the United States' Federal Reserve:

"After a record-breaking year in 2020 that saw information technology jump more than 300%, Bitcoin looks to stay potent in 2021 as more retail — and big-proper noun institutional buyers — enter the market [...] For those already in, the strategy in identify remains to HODL [...] Beginning-time novice investors accept constitute their way into many risk-perceived avails, including Bitcoin."

Cohen's remarks come up in conjunction with a new crypto-related survey by Investing.com, co-ordinate to which 63% of respondents in the United Kingdom are planning to purchase some Bitcoin in 2021. More than than 60% of 800 respondents too said that they believe that Bitcoin will surge above $sixty,000 in 2021.

Despite growing confidence about Bitcoin'due south rally in 2021, there are many concerns about the surrounding regulatory climate. "With Bitcoin moving into the mainstream and capturing greater attention, it will likely describe further scrutiny from regulators in the United States, Europe and Asia," Cohen said.

Cohen is particularly concerned virtually the touch on of the new United States presidential assistants. "The path forward may not necessarily be every bit smooth after however. I'thou expecting a retracement," Cohen added.

Co-ordinate to the survey, the bulk of British respondents identify new regulatory restrictions equally the biggest threat to Bitcoin in 2021.

Cohen's prediction is by no means the highest for Bitcoin this yr. Pantera Capital CEO Dan Morehead is confident that Bitcoin will striking $115,000 past Baronial 2021. In early January, Binance.Usa CEO Catherine Coley predicted that Bitcoin could hit $100,000 by the terminate of the yr. PlanB, the creator of the stock-to-flow model, also forecasts that Bitcoin should be somewhere between $100,000 and $288,000 by December 2021.