Although bitcoin jumped well above the $ 26,000 zone, several crypto proponents are extremely optimistic about the performance of the crypto asset in 2021. Over the past year, several analysts, experts, luminaries and speculators have predicted the value of bitcoin 2021 after the digital currency went through a phenomenal year in 2020.
Bitcoin price predictions for 2021
On December 26, 2020, the price of bitcoin (BTC) skyrocketed well over $ 26,000, as the cryptocurrency had a spectacular year amid a crazy global economy. Since BTC started to gain popularity, several people have tried to predict the future price of the encrypted asset in advance. In 2020, the forecasts were no different and several individuals gave their predictions about the future value of bitcoin and what the price might be in 2021. For example, as BTC rebounded throughout the year, researchers at finder.com interviewed 47 experts in cryptocurrency on its 2021 predictions.
The finder.com survey was also completed before BTC crossed the $ 20k zone, and the majority (58%) of panelists said the bull run would last at least until the second half of 2021. According to the survey, panelists predict the BTC price will more than double by the end of 2021. Finder.com survey respondents also predicted an average price of $ 51,951 per bitcoin. Although, 52% of panelists expect bitcoin (BTC) to decline sharply after the peak in 2021.
In mid-November, billionaire investor and founder of Galaxy Digital Mike Novogratz foreseen bitcoin (BTC) could reach $ 65,000 in 2021. Novogratz predicted this price range when he gave some advice to Game of Thrones star Maisie Williams. “I bought more BTC last night at 15,800,” tweeted Novogratz. “Go for 20k and o. For 65k. The network effect took over. I see tons of new buyers and there is very little supply. It’s an easier exchange here than the 11k. So YES, buy it, ”he emphasized to Williams at the time.
Bloomberg analyst Mike McGlone also predicted some bitcoin (BTC) futures prices and said that in 2022, BTC could reach $ 170,000. “The main thing about Bitcoin this year is very simple – he just added one in front of the number,” said McGlone. “Remember, it was about $ 7,000 at the end of last year. What worries me – if you look at past performance, which is potentially indicative of the future, the next year or two may add a zero to the end of the number. “
By the end of 2021, BTC will trade at $ 318,000, according to the forecast by Citibank analyst Tom Fitzpatrick. Fitzpatrick said the BTC is likely to see “unthinkable rallies followed by painful corrections”. In addition, the Citibank executive said that bitcoin is the new gold with the least restrictions. “Gold has restrictions like storage, not portable, and can even be called ‘yesterday’s news’ in terms of financial hedging. Bitcoin is the new gold, ”insisted Fitzpatrick.
This summer, co-founder of blockfyre cryptography analyst Simon Dedic, foreseen that BTC will reach a $ 150k high. “In 2017, you could have bought literally any [altcoin] and it was a good investment. IMO, it won’t happen again, ”said Dedic. “However, I still believe that the bull run will return by pumping the few solids [altcoins] abroad ”, he added. Dedic’s summer tweet predicts a series of price forecasts, including ETH ($ 9K), LINK ($ 200), BNB ($ 500), VET ($ 1) and XTZ ($ 200).
During a May 6, 2020 interview, the CEO of capital management giant Morgan Creek, Mark Yusko, predicted that bitcoin could easily reach $ 100,000 in 2021 or 2022. During the discussion, Yusko also insisted that the price bitcoin could also reach $ 400 to $ 500 thousand. Yusko stated at the time: “If we come to the equivalence of gold, which means that the market capitalization of Bitcoin is equal to the market capitalization of gold, which I think is perfectly logical, you could easily see that price of $ 400,000 to $ 500,000 [at] some [point in time]. “
Zero to six digits
Not everyone is so enthusiastic about the future value of bitcoin, as Buscando Alpha financial columnist Anton Wahlman believes that bitcoin is worthless and will go to zero. “Sometimes there is something so absurd that you hardly know where to start arguing,” insists Wahlman’s recent editorial. “For it is so obvious and evident that it should not be explained. Bitcoin and similar cryptocurrencies are the case, ”added Wahlman.
The Times UK financial contributor Oliver Kamm told his readers that “cryptocurrencies are a fad that is best avoided, despite Paypal accepting bitcoin.”
“Cryptocurrencies don’t belong to your portfolio,” wrote Kamm when BTC was trading for $ 12,931 per unit. “The reason is that you cannot value them. An asset that doesn’t even pay a notional flow of cash flows – like bonds, which pay interest, or stocks, which pay dividends, or property, which provides rental income – is just a gamble. Please get involved in this, like playing roulette, to have fun, but be prepared to lose the whole bet, ”added Kamm.
The creator of the price model called stock-to-flow, which goes by the Twitter name “Plan B”, thinks that the price of bitcoin (BTC) can reach $ 100K through December 2021. “The current bitcoin price action is good, but we are waiting for a real leap (like the red arrows in early 2013 and 2017). IMO, which will be the start of the real bull market, and in fact phase5. January 2021? Plan B tweeted on 22 November.
In general, there are many optimistic predictions from the proponents and, of course, detractors believe that the active crypto is still useless. Several other experts, executives and experts predicted six-digit prices, including RT host Max Keizer, venture capitalist Tim Draper, Pantera Capital crypto analyst Nicholas Merten, and Morgan Creek executive Anthony ‘Pomp’ Pompliano. And there will probably always be detractors too, like economist and hedge fund manager Mike Dow, who tweeted earlier this year that “Bitcoin is over. #REST IN PEACE.”
What do you think of the eight-bit price predictions for 2021? Let us know what you think about these predictions in the comments section below.
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