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Bitcoin (BTC) price predictions for 2021

Proponents believe that Bitcoin's price could soar to the six-digit figure range while critics say it is best not to invest in BTC.

Image by José Augusto Camargo from Pixabay

Mon, 28 Dec 2020, 12:14 pm UTC

Bitcoin (BTC) recently hit a new record on Sunday, December 27, 2020, when the world’s largest cryptocurrency soared past $28,000 for the first time. With its recent rally, the crypto became a hot topic among investors discussing the various price speculations swirling around.

Some of the crypto’s proponents remain bullish on the digital currency’s prospects for 2021 believing that BTC still has room to grow. Naturally, detractors remain unmoved and continue to warn investors to stay away from the crypto asset. Here are some of the most notable Bitcoin price speculations for 2021.

Citibank analyst Tom Fitzpatrick is among those who are bullish on Bitcoin and predicts that its price will reach $318,000 by the end of 2021, according to Bitcoin.com. The bank executive warned that there will corrections along the way but emphasized that BTC is still better than gold.

“Gold has restrictions such as storage, non-portable, and could possibly be even called ‘yesterday’s news’ in terms of a financial hedge,” Fitzpatrick explained. “Bitcoin is the new gold.”

Bloomberg analyst Mike McGlone is likewise bullish on the crypto and predicts that it could reach $170K by 2022. “The key thing about Bitcoin this year is very simple— it just added a one to the front of the number,” he explained. “Remember, it was around $7,000 at the end of last year. What I’m worried about— if you look at the past performance, which is potentially indicative of the future, next year or two could add a zero to the back of the number.”

PlanB, the anonymous author of the Bitcoin stock-to-flow (S2F) price model, expects BTC to trade between $100k and $288K next year. “People ask if I still believe in my model,” PlanB posted on Twitter on November 8. “To be clear: I have no doubt whatsoever that #bitcoin S2FX is correct and #bitcoin will tap $100K-288K before Dec2021.”

Understandably, not everyone agrees that people should invest in Bitcoin. For instance, The Times UK financial contributor Oliver Kamm even described cryptocurrencies as “a fad best avoided” and urged his readers to stay away from digital currencies.

“Cryptocurrencies don’t belong in your portfolio,” Kamm wrote back when BTC was priced around $12,931. “The reason is you can’t value them. An asset that doesn’t pay even a notional stream of cashflows— like bonds, which pay interest, or shares, which pay dividends, or property, which provides rental income— is just a gamble.”

Meanwhile, Seeking Alpha financial columnist Anton Wahlman believes that BTC will eventually go to zero. “Sometimes there’s something so absurd that you hardly know where to begin to make the argument,” Wahlman wrote in his editorial. “For it’s so obvious and self-evident that it should not have to be explained. Bitcoin and similar cryptocurrencies are such a case.”

Despite its critics, Bitcoin has become more popular among institutional investors who use the asset as a hedge against inflation. In fact, JPMorgan strategists predict that demand for Bitcoin (BTC) will reach $600 billion in the coming years.

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  • Moses
  • 2021.01.02 20:26:56
I am a crypto currency trader and i make over 200% daily trading all day and night and also by passing even when market is down and others are resting , If you are interested, I can teach you how to trade and also help you achieve your goal in life with crypto i can turn 4 btc into $340,000.00 in less than four weeks, now that bitcoin has high prices...please note that crypto currency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins , bitcoin can also be traded for Ethereum, Litecoin, United States Dollar, Ripple, Euro, IOTA, and other stocks you need to put to trading on a daily basis with a very correct strategy and a target of profit as you get into the trading market with your capital. Also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more info....contact me on WhatsApp +1(206)-742-5358
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  • Moses
  • 2021.01.02 20:23:31
I am a crypto currency trader and i make over 200% daily trading all day and night and also by passing even when market is down and others are resting , If you are interested, I can teach you how to trade and also help you achieve your goal in life with crypto i can turn 4 btc into $340,000.00 in less than four weeks, now that bitcoin has high prices...please note that crypto currency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins , bitcoin can also be traded for Ethereum, Litecoin, United States Dollar, Ripple, Euro, IOTA, and other stocks you need to put to trading on a daily basis with a very correct strategy and a target of profit as you get into the trading market with your capital. Also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more info....contact me on WhatsApp +1(206)-742-5358
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  • Moses
  • 2021.01.02 20:20:46
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  • Moses
  • 2021.01.02 20:17:31
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More
  • Bitcoin (btc) $45,279.00 (-3.79%)
  • Ethereum (eth) $1,373.24 (-7.19%)
  • Cardano (ada) $1.30 (-9.99%)
  • Tether (usdt) $1.00 (+0.04%)
  • Binance Coin (bnb) $215.27 (-5.45%)
  • Bitcoin (btc) $45,279.00 (-3.79%)
Feb 28, 2021 (Sunday)
09:03
BTC Surges by 1.03% Within 5 Mins, Marking 45,152.1 USDT
07:49
BTC Surges by 1.05% Within 5 Mins, Marking 44,724.7 USDT
06:03
BTC Drops by 1.3% Within 5 Mins, Marking 44,221.2 USDT
05:17
BTC Surges by 1.38% Within 5 Mins, Marking 45,442.07 USDT
05:06
BTC Surges by 1.55% Within 5 Mins, Marking 44,851.9 USDT
04:59
BTC Drops by 1.1% Within 5 Mins, Marking 44,313.1 USDT
03:40
BTC Drops by 1.21% Within 5 Mins, Marking 44,801.4 USDT
Feb 27, 2021 (Saturday)
23:51
BTC Surges by 1.43% Within 5 Mins, Marking 46,427.1 USDT
22:58
BTC Drops by 1.04% Within 5 Mins, Marking 46,020.14 USDT
16:04
BTC Surges by 1.04% Within 5 Mins, Marking 46,758.04 USDT
15:30
BTC Drops by 1.07% Within 5 Mins, Marking 46,792.2 USDT
13:30
BTC Surges by 1.18% Within 5 Mins, Marking 47,616.2 USDT
13:25
BTC Drops by 1.0% Within 5 Mins, Marking 47,121.63 USDT
12:34
BTC Surges by 1.52% Within 5 Mins, Marking 47,566.5 USDT
12:21
BTC Drops by 1.05% Within 5 Mins, Marking 46,957.1 USDT
08:22
BTC Drops by 1.08% Within 5 Mins, Marking 46,713.61 USDT
07:01
BTC Drops by 1.35% Within 5 Mins, Marking 47,404.39 USDT
06:42
BTC Surges by 1.03% Within 5 Mins, Marking 48,244.9 USDT
03:17
BTC Surges by 1.02% Within 5 Mins, Marking 47,875 USDT
01:38
BTC Surges by 1.03% Within 5 Mins, Marking 47,916.05 USDT
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