Bitcoin, predictions, 2021, six digits, $ 318,000
Bitcoin predictions for 2021 vary, but most experts expect at least six figures. There is even talk of a value of half a million dollars. At the same time, there are also bubble expectations.
On Thursday evening, bitcoin briefly reached a new record of $ 40,000. The price of the crypto currency has made a huge climb in recent times. Where we wrote in mid-December that bitcoin had passed the magic threshold of $ 20,000, the currency was worth $ 30,000 at the turn of the year. So, the value of bitcoin has doubled within a month. And according to many experts, the end is nowhere in sight.
In fact, many people are convinced that the bitcoin price will reach six digits in 2021. What are the predictions of experts, analysts and critics about the crypto currency?
Predictions Bitcoin in 2021
More and more professional investors and companies are making the switch to bitcoin. It is one of the reasons that the currency is soaring in price. For example, in the course of 2020, MicroStrategy, a major US advisory company, bought a whopping $ 1 billion worth of bitcoin. Asset manager Guggenheim Partners also bought $ 500 million worth of bitcoin at the end of last year. They expect that Bitcoin will be worth no less than $ 400,000 by the end of 2021.
They aren’t the only ones who have high hopes for bitcoin this year. An analyst from Citibank (the second largest US bank) dared to claim in his predictions for 2021 that the crypto coin will hit $ 318,000 this year. But there are analysts and experts who see it even more rosy. Catherine Wood, CEO of ARK Invest, expects bitcoin to be worth $ 500,000 this year. Portugal Cryptocurrency is popular.
Other experts and analysts are also optimistic, but have slightly more cautious forecasts. Investment bank JP Morgan thinks bitcoin could rise to $ 100,000. Bloomberg analyst Mike McGlone expects us to see a price of $ 50,000 this year. Finally, Simon Dedic, founder of crypto research company Blockfyre, expects the cryptocurrency to reach $ 150,000.
Collapse of the price?
Of course, no one can say for sure whether bitcoin will reach six digits in 2021. There are also market researchers who cannot rule out a collapse of the price. That would not be very strange: in 2017 the crypto coin reached a record of 20,000 dollars. But just before that was achieved, the course collapsed. In one month, bitcoin lost 65 percent of its value. And in September 2018, the price had even fallen 80 percent since the peak.
Patrick van der Meijde, crypto entrepreneur and foreman of the United Bitcoin companies in the Netherlands, tells NRC that he cannot rule out such a significant collapse in the price. He does expect the increase to continue in the long term, with strong increases and strong temporary declines.
There are also plenty of people who think the crypto world is a bubble that could burst at any moment. Economist Nouriel Roubini advises you not to be fooled by the predictions for 2021. “Investing in bitcoin is the same as betting your portfolio in a manipulated illegal casino,” he said in a tweet. Price prediction crypto Italy is popular.
The greatest danger is probably the increasingly strict regulation. Guy Hirsch is a manager at eToro, one of the best-known bitcoin traders in the world. He calls the fact that regulators and watchdogs are getting involved in the crypto world “dark clouds on the horizon”. In the Netherlands, crypto companies now have to register with De Nederlandse Bank, for example. It is the reason that eToro had to stop a week ago in the Netherlands. These kinds of measures are not doing the market any good, Hirsch previously told Bloomberg.
We leave it to you what you do with these expectations and predictions for 2021. Here we share 5 reasons to and not to invest in bitcoin. Check the live bitcoin exchange rate in euros here.