Bitcoin in 2021: What Can We Expect?
Bitcoin was the single hot topic of the year 2020, as it broke all-time-highs after all-time-highs. Unlike the 2017 bull run, the prices do not look like they might not take such a harsh nosedive either. Everyone and their dogs are thinking about these questions: Should I buy Bitcoin? What will BTC price be in December 2021? What do the experts say 2021 will have in store for Bitcoin?
Let’s see where crypto experts predict BTC price levels will be at the end of 2021.
Bitcoin Price Prediction: 2021 is going to be like 2017
Thomas Lee, Managing Partner and Head of Research at Fundstrat Global Advisors, is predicting a 300% price gain in 2021. Why should we believe him?
For starters, he’s an accomplished Wall Street strategist, backed with 25+ years of experience in equity research, and has held the top spot in the Institutional Investor rankings, every single year since 1998. Now that we’re satisfied with his credentials, let’s take a look at his predictions.
In an interview with CNBC, Lee said “2021 is going to be a lot like 2017 which means bitcoin should do even better in 2021 than it did in 2020, so something above 300% (increases in price).”
At the time of this Bitcoin price prediction, that would mean the prices would easily beat the $100,000 barrier: $116,000 to be precise. This prediction could well be true as the price is (as of 10th of March, 2021) at $56,000 — a 100% increase just two months into the year.
Every Company is Adopting — $100,000 on the cards.
Mike Novogratz is a highly experienced hedge fund manager, formerly from the Fortress Investment group. Currently, he is the CEO of Galaxy Investment Partners — a cryptocurrency investment firm. He predicts BTC price to hit the $100,000 mark by the end of the year, because “every” company is adopting Bitcoin.
In an interview with Bloomberg Television, he said “You’re going to see every company in America do the same thing, It doesn’t have to be a lot. It’s the messaging that matters, you’re seeing the herd here, and it’s coming.” He added, “Now you got the biggest, the wealthiest man in the world [referring to Elon Musk] and one of the biggest stories doing it. You’ve got to think other CFOs and CEOs are saying, what should we be doing?”
$300,000 in 2021?
This prediction is from a leaked report penned by Thomas Fitzpatrick, a high-ranking Citibank analyst. Being the global head of Citibank’s CitiFXTechnicals market insight product, he is tasked with the responsibility of penning down a report solely for the bank’s institutional report.
In a report titled “Bitcoin: 21st Century Gold,” he suggests that “the whole existence of Bitcoin has been characterized by unthinkable rallies followed by painful corrections (the type of pattern that sustains a long term trend).” Suggesting a $318,000 BTC price point by December 2021, he stated that “Improbable though that seems it would only be a low to high rally of 102 times (the weakest rally so far in percentage terms) at a point where the arguments in favor of Bitcoin could well be at their most persuasive ever.”
He remarked, “time will tell if we end up seeing such lofty levels, but the backdrop and the price action we are looking at clearly suggest the potential for a major move higher nonetheless in the next 12–24 months”.
Bullish and here to stay.
Justin Sun, founder and CEO of TRON, CEO of BitTorrent, and Peiwo said the following “Bitcoin has been one of the top stories of 2021 everyone and their grandma is talking about BTC this year. Doomers, nocoiners, and bears like to use every opportunity to point to the death of bitcoin or to equate crypto to the dotcom bubble. In my opinion, the recent correction of BTC is a reflection of a healthy market with active traders and investors. BTC still has a long way to go in terms of price growth, In December 2020, a leaked Citi report revealed one of the bank’s senior analysts thinks bitcoin could potentially hit a high of $318,000 by December 2021. Although it’s anyone’s guess what the price of BTC will be at the end of 2021, we know for certain that the bull market is here and it looks like it’s here to stay.”
Predictions like these are extremely common in the world of BTC. However, as a leading Decentralized Bitcoin Exchange, we at CryptoLocally urge you to take these predictions for what they are, a likely probable future BTC price point, but not one set in stone. Understand the risks of investing in crypto and the highly volatile nature of Bitcoin in particular, before you choose to buy BTC — whether it’s at a P2P exchange or a centralized one.
If you’re convinced to buy BTC or sell Bitcoin based on your technical analysis, we would recommend that you choose a Decentralized Exchange. In particular, decentralized P2P exchanges are able to charge one of the lowest fees in the market while also being highly secure and reliable. This is possible because you directly trade with the other party without any intermediaries. See our comprehensive guide on how to select the best Decentralized Exchange before buying Bitcoin.