We are at the end of 2020, and the crypto traders started to predict the price of bitcoin Prediction for next year. While searching the internet, you will definitely experience the news stating bitcoin’s high and lows.
The future predictions of bitcoin starts from $100,000 goes to $170,000 by numerous strategists like Mike McGlone, Tom Fitzpatrick etc. These analysts call bitcoin as “21st century gold”.
To get a crystal clear picture of bitcoin price analysis, we will evaluate the primary price drivers of bitcoin and will try to provide the bitcoin price prediction. These predictions will ultimately help you to make better decisions whether you are taking a bull position or a bera position in your future bitcoin trade.
Bitcoin Price Prediction 2021
It is a very rare chance when all the analysts unites on their bitcoin predictions. Tom Lee, the managing partner of Fundstrat Global Advisors, shared his views on bitcoin price prediction 2021. He supported the view and said that bitcoin would replace gold. Here are some more predictions from some popular analysts. Have a look at them.
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Prediction 1: Mike Novogratz
The billionaire investors are expecting to upswing the price of bitcoin to $65,000. According to them, 2021 will be the best time for buyers. Mike Novogratz believes that the price of BTC will hit $20,000, then it will fall around $16,000, before upsurging to $60,000 by the end of 2021. All of this is because of the network effect where the number of buyers will increase, and bitcoin supply will be lower.
He expects that the shortage of BTC will help to drive the price of bitcoin in the upcoming future.
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Prediction 2: S2F Creator
As per the founder of a famous BTC prediction model Stock-to-Flow (S2F), by december 2021, cryptocurrency will reach its benchmark at $100,000. The S2F model evaluates the expected bitcoin price in 2021 by contemplating its increasing demand and decreasing supply.
The supply of BTC is decreasing because Bitcoin halves in four years and the inflation is increasing. Theoretically, this can boost the demand for BTC and create a drastic upswing in bitcoin price.
In July 2016, at the time of the second halving, the price of BTC was fluctuating at approx $640. And after 17 months, BTC was at its the all-time high price of $20,000. SO, if the same pattern repeats, BTC might reach $288,000 by December 2021.
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Prediction 3: Bloomberg Strategist Mike McGlone
Bloomberg analyst Mike McGlone found one more bullish view on the BTC price prediction 2021. According to him, Bitcoin hasn’t finished its upward swing and it is set at the level of $170,000 for 2022.
According to McGlone, in 2019 if BTC was at $7,000 and now it is traded above $17,000 then there are very high chances of adding more zero at the back of its pierce will make it $170,000.
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Prediction 4: Citibank Analyst Tom Fitzpatrick
Citibank analyst Tom Fitzpatrick addressed the most bullish view. He thinks that BTC will increase rapidly in 2021, and it will hit the price target of $3,18,000.
Further elucidated his prediction by BTC’s historical trajectory. This is the reason behind the bullish view of Citibank analysts. By thinking about bitcoin’s exponential growth in 2010 and 2011, Tom Fitzpatrick believes that the cryptocurrency will take the same type of movement in 2021.
Bottom Line
A lot of analysts have predicted different price movements of this cryptocurrency. But only time will tell us which analyst’s prediction will be right. However, these experts seem fully agreed in predicting bright prospects for bitcoin for the next year.
