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

While bitcoin has jumped well above the $26,000 zone, a number of crypto proponents are extremely bullish for the crypto asset’s performance in 2021. During the last year, a number of pundits, experts, luminaries, and speculators have predicted bitcoin’s 2021 value after the digital currency has experienced a phenomenal year in 2020.

2021 Bitcoin Price Predictions

On December 26, 2020, the price of bitcoin (BTC) spiked well over the $26k handle, as the cryptocurrency had a spectacular year amid a crazy global economy. Ever since BTC started gaining popularity, a number of people have tried to predict the future price of the crypto asset ahead of time. In 2020, the forecasts have been no different and numerous individuals have given their predictions on bitcoin’s future value and what the price may be in 2021. For instance, as BTC rallied throughout the year, researchers from finder.com polled 47 cryptocurrency experts about their 2021 predictions.

The finder.com poll was also completed before BTC crossed the $20k zone, and most (58%) of the panelists said that the bull run will last at least until the second half of 2021. According to the survey, panelists predict the price of BTC will more than double by the end of 2021. The finder.com survey respondents also forecasted an average price of $51,951 per bitcoin as well. Although, 52% of the panelists expect bitcoin (BTC) will see a sharp drop after the peak in 2021.

In mid-November, billionaire investor and Galaxy Digital founder Mike Novogratz predicted bitcoin (BTC) could reach $65k in 2021. Novogratz forecasted this price range when he gave the “Game of Thrones” star Maisie Williams some advice. “I bought more BTC last night at 15800,” Novogratz tweeted. “It’s going to 20k and the. To 65k. The network effect has taken over. I see tons of new buyers and there is very little supply. It’s an easier trade here than at 11k. So YES, buy it,” he stressed to Williams at the time.

The analyst Mike McGlone from Bloomberg has also predicted some future bitcoin (BTC) prices and said that by 2022, BTC could tap $170k. “The key thing about Bitcoin this year is very simple— it just added a one to the front of the number,” McGlone said. “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.”

By the end of 2021, BTC will trade at $318,000 according to the prediction from Citibank analyst Tom Fitzpatrick. Fitzpatrick said BTC will likely see ”unthinkable rallies followed by painful corrections.” Furthermore, the Citibank executive said that bitcoin was the new gold with fewer restrictions. “Gold has restrictions such as storage, non-portable, and could possibly be even called ‘yesterday’s news’ in terms of a financial…