Zero to $318,000: Proponents and Detractors Give a Variety of Bitcoin Price Predictions for 2021

0
114

While Bitcoin has jumped well above the $ 26,000 zone, a number of crypto proponents are extremely optimistic about the performance of the crypto asset in 2021. Over the past year, a number of pundits, experts, luminaries and speculators have valued the Bitcoin for 2021 according to the digitally forecast currency has seen a phenomenal year in 2020.

2021 Bitcoin Price Predictions

On December 26, 2020, the price of Bitcoin (BTC) surged well above the $ 26,000 value as the cryptocurrency had a spectacular year amid a crazy global economy. Since BTC has been gaining popularity, some people have tried to predict the future price of the crypto asset in advance. In 2020, the predictions were no different, and numerous people have given their predictions about the future value of Bitcoin and its possible price in 2021. As BTC came together later in the year, researchers at finder.com surveyed 47 cryptocurrency experts on their 2021 predictions.

The survey on finder.com was also completed before BTC crossed the $ 20,000 zone, and most (58%) of the panellists said the bull run will last at least until the second half of 2021. According to the survey, panellists predict the price of BTC will more than double by the end of 2021. Finder.com survey participants also forecast an average price of $ 51,951 per bitcoin. Although 52% of panellists expect Bitcoin (BTC) to see a sharp decline after peaking in 2021.

In mid-November, billionaire Galaxy Digital founder Mike Novogratz predicted that Bitcoin (BTC) could hit $ 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 at 15,800 last night,” tweeted Novogratz. “It will be 20 km and the. Up to 65k. The network effect has taken over. I see tons of new buyers and there is very little offer. It’s easier here than at 11k. So YES, buy it, ”he told Williams at the time.

Bloomberg analyst Mike McGlone also predicted some future Bitcoin (BTC) prices, saying that BTC could tap $ 170,000 by 2022. “The most important thing about Bitcoin this year is very simple – only a one was added before the number,” said McGlone. “Remember, it was around $ 7,000 at the end of last year. What I’m worried about – if you look at past performance, which may point to the future, the next year or two could put a zero on the back of the number. “

By the end of 2021, Citibank analyst Tom Fitzpatrick predicts that BTC will trade at $ 318,000. Fitzpatrick said BTC will likely “see unthinkable rallies followed by painful corrections”. In addition, the Citibank manager said Bitcoin was the new gold with fewer restrictions. “Gold has limitations such as storage space, is not portable and can possibly even be described as“ yesterday’s news ”in terms of financial security. Bitcoin is the new gold, ”emphasized Fitzpatrick.

This summer, cryptanalysis firm Blockfyre’s co-founder Simon Dedic predicted that BTC will hit a high of $ 150,000. “In 2017 you could literally have bought anyone [altcoin] and it was a good investment. IMO, that won’t happen again, ”said Dedic. “However, I still believe that the bull run will return to pump the few solids [altcoins] out there, ”he added. Dedic’s summer tweet predicts a number of price predictions including ETH ($ 9,000), LINK ($ 200), BNB ($ 500), VET ($ 1), and XTZ ($ 200).

During an interview on May 6, 2020, capital management giant Morgan Creek CEO Mark Yusko predicted that Bitcoin could easily hit $ 100,000 in 2021 or 2022. During the discussion, Yusko also insisted that the price of Bitcoin could also reach $ 400-500,000. Yusko explained at the time: “When we get to gold equivalence, which means that the market capitalization of Bitcoin equals the market capitalization of gold, which in my opinion is perfectly logical, you can easily see the price from $ 400,000 to $ 500,000 [at] something [point in time]. ”

From zero to six digits

Not everyone is that excited about the future value of bitcoin as Seeking Alpha financial columnist Anton Wahlman believes bitcoin is worthless and will go to zero. “Sometimes something is so absurd that you hardly know where to start to argue,” says Wahlman’s latest editorial. “Because it’s so obvious and obvious that it doesn’t need to be explained. Bitcoin and similar cryptocurrencies are one such case, ”added Wahlman.

Zero to $ 318,000: Proponents and critics give a variety of Bitcoin price predictions for 2021

The Times UK financial contributor Oliver Kamm told readers that “Cryptocurrencies are a fad that is best avoided despite PayPal accepting Bitcoin.”

“Cryptocurrencies don’t belong in your portfolio,” Kamm wrote when BTC was trading for $ 12,931 per unit. “The reason is that you can’t appreciate it. An asset that doesn’t even pay a fictional stream of cash flows – like bonds that pay interest, or stocks that pay dividends, or real estate that provides rental income – is just a gamble. Be sure to take part in it, like poking around on a roulette wheel, to recover, but be prepared to lose all of your stake, ”added Kamm.

The creator of the pricing model called Stock-to-Flow, known by the Twitter name “Plan B,” believes the price of Bitcoin (BTC) could reach $ 100,000 by December 2021. “The current Bitcoin price action is nice, but we’re waiting for a real jump (like the red arrows in early 2013 and 2017). IMO, this will be the beginning of the real bull market, phase January 5th, 2021? “Plan B tweeted on November 22nd.

Overall, there are many optimistic predictions from proponents, and of course critics believe that the crypto-asset is still worthless. A number of other pundits, executives and experts have forecast six-figure prices, including RT host Max Keizer, venture capitalist Tim Draper, crypto analyst Nicholas Merten of Pantera Capital and Anthony ‘Pomp’ Pompliano of Morgan Creek. And there will likely always be critics, like economist and hedge fund manager Mike Dow, who tweeted earlier this year: “Bitcoin is over. #REST IN PEACE.”

What do you think of the eight Bitcoin price predictions for 2021? Let us know what you think about these predictions in the comments section below.

Tags in this story

2021, Altcoins, Anton Wahlman, Bitcoin, Bitcoin Price, BTC, BTC Price, Cryptocurrency, Maisie Williams, Mark Yusko, Markets and Prices, Mike McGlone, Mike Novogratz, Oliver Kamm, Price Predictions, Simon Dedic, Tom Fitzpatrick

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or an invitation to make an offer to buy or sell, or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on the content, goods or services referred to in this article.