The Top Bitcoin Price Prediction For 2021
Bitcoin price will reach $ 100,000 — $ 200,000 in the next 12 months is a fairly common prediction. But if such predictions are labeled as unrealistic, then which price targets are considered more realistic? The most popular and hot debated topic remains the price of Bitcoin (BTC) and speculation about its value in the future.
Currently, the Bitcoin price is in a bull market cycle, has risen by over 300% since the beginning of the year 2020, and surpasses every resistance. This rally seems to be different from the one at the end of 2017. On one hand, the all-time high has been achieved easily and on the other hand, institutional traders are primarily accumulating BTC, while the public is still largely sitting on the sidelines watching.
As flood of money goes into BTC’s six-digit price forecasts for Bitcoin are becoming more and more common in this bull cycle.
In fact, billionaires and long-established investors like Ray Dalio are beginning to accept Bitcoin alongside Gold. More and more, BTC is perceived as a way to diversify against what Ray Dalio, calls “the decline in the value of money.” On Reddit, The Economist warned readers with the following words:
We are in a flood of money and money that raises most asset prices and distributes wealth in a way that the system we believe is normal but it is a threat to the value of our money.
Apart from the fact that Bitcoin was designed as a deflationary monetary asset in the future, the Bitcoin price is mainly measured in dollars.
Ray Dalio puts it as follows::
These assets [such as Bitcoin] will not sink when measured with the decreasing value of money. It is important to diversify, both in terms of currencies as well as asset classes.
Will the Bitcoin price reach $ 100,000 — $ 200,000?
Mark Yusko, CEO of Morgan Creek, believes the Bitcoin price could exceed $ 100,000 over the next year. This estimate reflects the forecast of the popular Stock-to-Flow (S2f) model, S2f model creator PlanB says the model is on the right track. Last month, he said that he has no doubt that the Bitcoin price will reach$ 100,000 by December 2021 due to a supply shortage.
Last month he tweeted, people ask if I still believe in my model. To be clear, I have no doubt that Bitcoin s2fx is correct and Bitcoin will reach $ 100,000 — $ 288,000 before December 2021.
People ask if I still believe in my model. To be clear: I have no doubt whatsoever that #bitcoin S2FX is correct and #bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice! pic.twitter.com/GNSxLIt7NG
- PlanB (@100trillionUSD) November 8, 2020
Is $200,000- $ 300,000 an Achievable Forecast?
The price of BTC in 2020 had a good 300% insane rally. Bitcoin price forecasts of about $ 200,000 by the end of 2021 assume that the leading cryptocurrency will easily surpass 200k USD. In order to achieve this price target, it will require a further increase in value of over 700% compared to the current price. That’s quite a lot!
The popular On-Chain Analyst Will woo, says he sees more evidence of holding Bitcoins this time around, as well as a less BTC available on the exchanges as a result of Bitcoin halving.
Woo believes that both factors combined will be an absolute price driver for Bitcoin.
My Top model, which proposes $ 200,000 per BTC by the end of 2021, looks Reasonable — $ 300,000 is not out of the question.
And How About $ 400,000 For The Digital Gold?
Even higher price predictions comes when Bitcoin is given a status of Digital Gold as the store of value. Some outside from the Bitcoin Community believe that BTC Gold could not only challenge Gold Status, but even displace it as far as possible.
Interestingly, some of the most bullish forecasts come from the classical financial world, as Bitcoin surged to new all-time highs in December 2020 has far surpassed Gold in 2020. In November, a Citibank Analyst tweeted in a message to clients that the Bitcoin price could reach up to$ 318,000 in 2021.
Citibank bitcoin technical analysis.
Target: Moon. pic.twitter.com/prB1YjVNhX
- Alex (@classicmacro) November 13, 2020
At present, Citibank managing director Tom Fitzpatrick believes that BTC is in the middle of a Bull run that appears to be in a very well defined channel. According to this, he is targeting$ 318,000 in December 2021.
JPMorgan also points to the increasing popularity of Bitcoin among traditional investors. In fact, the investment banking giant sees much more upside potential in Bitcoin than Gold, compared to the already very advanced acceptance of Gold. In a note to customers, the analysts there wrote:
The Adoption of Bitcoin by institutional investors has only just begun, while the Adoption of Gold by institutional investors is already very far advanced. If this medium to long-term thesis were to prove true, the price of gold would suffer from structural headwinds in the coming years.
Today, the market capitalization of Bitcoin is less than 4% of that of Gold. This immense upside potential has also prompted other well-known investors to share their predictions, which include that Bitcoin will challenge and even surpass the commodity and millennium-old storekeeper Gold with market capitalization of $ 9 trillion.
JPMorgan Says Gold Will Suffer for Years Because of Bitcoin - BNN Bloomberg
(Bloomberg) -- The rise of cryptocurrencies in mainstream finance is coming at the expense of gold, says JPMorgan Chase…
2021 will be an exciting year for many reasons. With this in mind, we would like to thank all our readers for their support and loyalty and wish you a Happy New Year!
Originally published at https://thecryptobasic.com on January 4, 2021.