#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 designated shops and online retailers. 0:00 Introduction 02:01 Bitcoin: Push and Pull Factors 02:55 Push Factor: Global Uncertainty 03:53 Pull Factor: Limited Supply of $21 million 04:26 Push Factor: Trade War 05:10 Pull Factor: Bitcoin is Neutral & fully decentralize 05:55 Institutional Investors Going into Bitcoin: Microstrategy, Coinbase 07:21 2021 Expectation: High volatility 08:06 Decentralised Finance has been a Game Changer in 2020 09:14 Decentralised Finance replacing Bank 09:27 Uniswap: Decentralised Exchange with $2.1b locked. 10.55 DeFi use cases: Lending, Borrowing, Synthetic and many more. 11:33 DeFi in 2021 12:10 Yield Farming took off in 2020 12:26 YFI is the biggest DeFi project with $647million dollars 13:16 Yield Farming Risk: Rug pulls, Ponzi Scheme 13:38 Community Building is crucial for Yield Farming 14:25 What is Algorithmic Stable Coins? 14:56 Rebase Tokens: Ampleforth (AMPL), DSD, ESD. 15:45 The Potential of Algorithmic Stable Coins. 16:30 Central bank Digital Currencies: The Next Big Move in 2021 18:14 Closing ●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬● Recommendation List: https://www.cryptoatlas.io/Boxmining ?Buy & Sell Bitcoin: https://join.swissborg.com/r/michaeOQZM ?Crypto Prices: https://www.coingecko.com/ ?Hardware Wallet: http://boxmining.co/ledger ??Brave Browser: http://boxmining.co/brave ?Binance Exchange : http://boxmining.co/binance ●▬▬▬▬▬▬▬▬▬▬Community▬▬▬▬▬▬▬▬▬● Boxmining Official Website: https://www.boxmining.com/ Telegram Announcements: https://t.me/boxminingChannel Facebook Community: https://www.facebook.com/groups/CryptoSpartans/ ●▬▬▬▬▬▬▬▬▬▬▬Social▬▬▬▬▬▬▬▬▬▬▬● Instagram: https://www.instagram.com/boxmining/ Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining Steemit: https://steemit.com/@boxmining ●▬▬▬▬▬▬▬▬▬▬Disclaimer▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video.