2020 Recap: Bitcoin and cryptocurrency (BONUS: SECRET 2021 predictions)

#2020recap #CryptoNews #Bitcoin #cryptocurrency 2020 has been an amazing year for cryptocurrencies, with Bitcoin reaching new all-time highs since 2017 and getting tremendous attention from financial institutions and mainstream media.

In this video, we are going to review and recap the key events of 2020, especially in relation to Bitcoin, Decentralised Finance (DeFi), Yield Farming, Algorithmic Stablecoins, Digital Currencies and more. The key reason for us to reflect on what has happened this year is so that we can extend our learnings to see what’s will be our predictions and cryptocurrency trends for 2021.

Bitcoin Bitcoin started 2020 at $7,142 and now it has surged past $29k. What’s the reasoning behind this exponential rise in price? In this video, we have divided the reasons into push and pull factors and see if Bitcoin will reach further ATHs.

Decentralised Finance (DeFi) 2020 has no doubt been the year of decentralised finance (DeFi). And while serious cryptocurrency enthusiasts were already quite familiar with it, in 2020 DeFi adoption went mainstream. It wouldn’t be wrong to say that this year everything in crypto has revolved around decentralised finance! Decentralised Finance has all kinds of platforms: lending, borrowing, coverages, prediction markets, trading, synthetics and so on, which potentially replace the banks in the future. This video lists the milestones that DeFi achieved in 2020. How will DeFi challenge traditional finance and predictions for 2021.

Yield Farming Starting in July 2020, Yield Farming became an extremely popular method for cryptocurrency owners to gain passive income. It involves taking advantage of various incentive rewards for locking-up (aka staking) different cryptocurrencies and one of the most popular yield farming token is $YFI (Yearn Finance) created by Andre Cronje with a market cap of $647million in the pool. However, there are pros and cons in all projects. We witnessed multiple yield-farming projects “Rug Pull”, Ponzi schemes, or fund being stolen.

Algorithmic Stablecoins What are Algorithmic Stablecoins? Algorithmic Stablecoins are stable relative to the price, it is backed by algorithm that changes supply amount when it moves above or below the price target.

Central Bank Digital Currencies Digital currencies continue to be on top of many countries’ “To-Do list” when talking crypto and new payments technologies. For example, in Europe, Christine Lagarde, president of the European Central Bank, is actively campaigning for the digital Euro. In China, the DCEP (Digital Currency Electronic Payment, DC/EP) issued by state bank the People’s Bank of China (PBoC) is already in its testing phase, and ordinary citizens chosen for the testing were already able to spend DCEP at desi ... https://www.youtube.com/watch?v=-tV5LAq7RSc