While you are undoubtedly “of technology”, it remains the most popular and controversial topic, especially when it comes to the public interest, Bitcoin (BTC) price and speculation about its future value.

Bitcoin is currently in a bull market cycle, gaining more than 200% YTD and surpassing everything else in 2020, except for a few stocks like Tesla. However, this rally looks different from the rally that took place at the end of 2017. First, the historical maximum was broken. Second, institutions accumulate while the public is still outside.

“We are in the flow of money and credit.”
Six-digit price predictions for each bitcoin become more common in this bull cycle as the central bank’s monetary expansion accelerates as the main driver.

In fact, billionaire investors like Ray Dalio are beginning to feel comfortable with the idea of ​​bitcoin combined with gold as a diversification tool against what he calls “depreciating money.”

“We are in a stream of money and credit that raises the prices of most assets and distributes wealth in a way that is not possible for the system we consider normal, and which jeopardizes the value of our money and our credit,” he warned. . at a Reddit session on December 8th.

“This flood is unlikely to stop, so these assets will not decline when measured in value for money. It is important to diversify well in terms of currencies and countries and asset classes. ”
Will Bitcoin reach $ 100,000-200,000?
As the Cointelegraph reported in May, Morgan Creek CEO Mark Yusko said the price of BTC could exceed $ 100,000 next year or so. Since then, the price has more than doubled, but over the next 12 months it must increase by a further 300% to reach the six-figure amount.

This estimate reflects the expectations of the popular Stock-to-Flow (S2F) model, whose creator, planB, says it is still on track. PlanB confirmed last month that there is now no doubt that BTC will hit $ 100,000 by December 2021 due to “lack of supply.”

“People ask if I believe in my model. To be clear: I have no doubt that S2FX bitcoin is right, and that bitcoin will win between $ 100,000 and $ 288,000 by December 2021, “he wrote last month.

As reported, Bitcoin has absorbed the trend line of the S2F pattern over the past month.

“Wallets” for $ 200-300?
Other analysts say the $ 200,000 price forecast has been relatively weak. Prominent analyst Will Wu says that this time he sees more evidence of “manipulation”, in addition to the decline in the supply of bitcoins on stock exchanges due to the previously mentioned lack of reserves.

According to Wu, it will be a double blow to the bear.

“My best model, which offers $ 200,000 per bitcoin by the end of 2021, seems conservative, $ 300,000 is not out of the question.”
He continues in another post: “Before 2021, I was not so optimistic.” “This phase of regrouping coincides with the depletion of shares in the spot market about twice as long and deeper than in the previous cycle. He will send BTC. ”

$ 400,000 or more for digital gold?
Higher price predictions are based on the argument that Bitcoin can challenge – or has already begun to challenge – and eventually replace gold as a real store of value. Interestingly, some of the most bullish predictions are starting to come from old funding as Bitcoin climbed to a full-time high in early December, well ahead of gold in 2020.

In November, for example, a Citibank analyst told clients in a note that Bitcoin could reach $ 318,000 by 2021. Tom Fitzpatrick, CEO of Citibank, cited “unimaginable historical Bitcoin collections followed by painful solutions.”

For now, the Citibank chief believes that BTC is in the middle of an upward trajectory that appears to be in “something of a well-defined channel”, in line with the target of $ 318,000 in December 2021.

Meanwhile, JPMorgan has also begun pointing to the growing popularity of Bitcoin among traditional investors. In fact, the investment banking giant sees a lot of bullish potential in Bitcoin as a “digital gold” versus the already “very advanced” adoption of gold.

Source: CoinTelegraph

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