Bitcoin surpassed the $68,000 barrier for the first time, setting a new all-time high. The price has decreased below $46,000 since the beginning of December.
Bitcoin’s value fluctuates dramatically from day to day, and even minute to minute. Last week, bitcoin traded around $59,000 before plunging below $46,000 on Saturday.
Bitcoin Price Predictions
According to mainstream estimates, Bitcoin will reach $100,000 by 2023.
Here are some predictions for the next year, in order of low to high:
Ian, Balina
Viewpoint: Bitcoin investor and founder of Token Metrics, a crypto research and media company.
It’s predicted to be worth $75,000 by the end of 2021.
Why: While technical data shows that $100,000 is possible, Balina told NextAdvisor that he wants to remain careful.
Matthew Hyland
Analyst specialising in blockchain data and technical analysis.
By January 2022, the estimated value is $250,000.
Why: According to Hyland’s Twitter account, if Bitcoin reaches $100,000, it will have a joyful bull run. As an example, Hyland highlighted the 150 percent surge in Bitcoin from $8,000 to $20,000 in the days after Thanksgiving in 2017.
Robert Breedlove
Observation:
Founder and CEO of Parallax Digital, a digital asset marketing and consultancy firm.
Prediction: $307,000 by October 2021 (already passed), and $12.5 million by 2031
Why Inflationary pressures following COVID-19 will fuel interest in cryptocurrency, driving the value of Bitcoin up more than prior estimates projected. In an interview earlier this year, Breedlove also pointed out how the fourth quarter of 2021 is around 510 days after an event called “halving,” in which Bitcoin’s algorithm lowers the incentive for mining transactions on the blockchain. Breedlove said prior halving occurrences have been followed by fresh highs about 500 days thereafter