2021 Price Prediction Summary
- Morgan Creek Digital Assets co-founder Anthony Pompalino $225,000
- Mike Novogratz, Founder of Galaxy Digital, a financial services company $60,000
- PlanB Creator of Stock to Flow Model $100,000
- Dan Morehead, Founder, and CEO of Pantera Capital, a blockchain investment fund $115,212
- Thomas Fitzpatrick, Citibank’s Global head $318,000
- Tyler Winklevoss Gemini Co-founder, $500000 in the coming decade.
- Max Keiser Bitcoin bull and market analyst increase by 4000%
- Simon Peters Etoro Crypto Analyst $70,000
Bitcoin Current Price
Bitcoin has been on the rise, surpassing previous predictions and even reaching a high of $55,034.81. The current price for BTC is $47,635, which is a drop of 10.3% from a high of $55,034.81.
For the past 24 hours Bitcoin has, a trading volume of $103,701,000,000, a circulating supply of 18,636,500 BTC, Max Supply of 21,000,000 BTC, Market Cap of $887,749,000,000.00 and the current market price is $47,635. The BTC has recorded quite a decrease in price percentage. It has decreased by 0.49% in I hour, 10.3% in 24 hours, and 2.98% in the last seven days.
BTC Price prediction by Experts
Morgan Creek Digital Assets co-founder Anthony Pompalino
In a letter to investors in October 2020, he wrote that he predicts BTC could reach $225,000 by the end of 2021. He wrote that BTC is volatile and that the straight line won’t be straight.
He predicted the bull case is around $250,000 per Bitcoin and that his base case is approximately 10x to $100,000.
His reasons are:
- Bitcoin demand is skyrocketing
- The available supply is smaller than people realize.
- Wall Street is jumping on board with digital assets.
- Use of Bitcoin by Large corporations to put cash reserves.
Mike Novogratz, Founder of Galaxy Digital, a financial services company.
Novogratz predicted that by the end of 2021, Bitcoin could hit $50,000 and $60,000 by 2021. His reasons are:
- Lack of trust by the government and Central Banks
- Fear of quantitative easing
- Bitcoin fits into the booming world of technology that has been made possible by social media.
PlanB Creator of Stock to Flow Model
PlanB is a pseudonymous investor who used the Stock-to-Flow model to predict that Bitcoin would reach a high of $100,000 by December 2021. The model considers the existing BTC supply and its new rate of supply. PlanB’s said that the reason for this is that the supply shortage is real
Dan Morehead, Founder and CEO of Pantera Capital, a blockchain investment fund
In a blog post on Medium, he predicted that Bitcoin by 2021 would hit $115,212. His reasons are:
- Bitcoin has had a 215% compound annual growth rate(CAGR)
- Bitcoin’s ability to rise in an economic crisis and lack of correlation to other significant assets
- He expects BTC growth to accelerate over the next two years.
Thomas Fitzpatrick, Citibank’s Global Head
In a leaked report on Twitter in November 2020, he predicted that Bitcoin would hit $318,000. His reason is the Central Bank’s aggressiveness to pursue quantitative easing that the COVID-19 pandemic has accelerated.
Tyler Winklevoss Gemini Co-Founder
He predicted that Bitcoin would reach a high of $ 500,000, although not in just 2021 but within the decade. The reason being Bitcoin might replace Gold as a store of value and eventually reach a $9 Trillion market cap.
Immediate Edge CEO
The Immediate Edge CEO predicted bitcoin could increase by 4,000%. The reasons why:
- The US dollar is in a hyperinflationary collapse against bitcoin, and the solution is always to print more money.
- Tesla’s high-profile investment of $1.5 billion in bitcoin
- As a hedge against fiat currency, other CEOs in the S&P 500 would follow Elon Musk’s lead by investing in bitcoin.
Simon Peters Etoro Crypto Analyst
In a note to investors, he wrote that BTC could tap $70,000 by the end of 2021. Reason being:
- The announcement by Mastercard, to support digital assets directly via its network.
- He expects Bitcoin and other cryptocurrency’s demand to surge.
- Bitcoin might eat away at Gold’s market cap.
Reasons Why Bitcoin Price is Still Bullish
Fear of missing out
When MicroStrategy bought bitcoin worth $425M, other public companies viewed bitcoin as a viable reserve asset. When Paypal adopted Bitcoin, that’s when the prices skyrocketed.
It has now led to many people wanting a piece of the pie before the price of Bitcoin goes too high.
With investors and Billionaires like Elon Musk investing in BTC, this has led to other people following suit, and thus the price is increasing.
Bitcoin serves as an alternative to gold and other hedge assets
Due to the pandemic, governments worldwide passed several trillion dollars of fiscal stimulus to protect against economic damage.
The money printing has led to many people searching for assets to invest in, and since they couldn’t access most due to the pandemic, they opted for Bitcoin. It has led to an increase in price, which is still set to increase.
By institutions like Paypal and Tesla investing in Bitcoin, people start warming up to it and are now starting to view it as a legitimate investment asset.
The US Office of the Currency Comptroller said national banks Bitcoin and other stable coins for payments. Bitcoin continues to rise every second the more famous people and renowned institutions get involved, leading to many other people following suit.
The uncertainty of the future
Most of the time, people may shy away from volatile investments as they are not comfortable with the uncertainty, but since the pandemic, this has led to many people being afraid of the future. Instead of shying away from Bitcoin and its volatility, they are now purchasing in large masses.
Where to Trade Bitcoin and Current Price
- Kraken $50,652.97
- Immediate Edge $50,546.87
- Etoro $50546.87
- LocalBitcoin $ 53547.85
- Robinhood or Coinbase $50622.80
- Coinmama $ 53547.85
- Changelly $50774.22
- Paxful $50521.61
- BitMEX $50774.22
- CEX.io $ 52032.21
According to all these experts, Bitcoin price is on a bullish run and is still expected to rise.