Bitcoin Price Prediction: Will BTC Price Reach $100K By 2021?
Bitcoin the primitive cryptocurrency has come to the limelight as it became the most expensive coin within the crypto space. As the digital asset grew stronger, many still speculate the asset may surge towards a $100k very soon!
Do you plan to “Hodl” bitcoin? Or you are currently “hodling” but curious about the price, how high it can reach?If you are planning to invest in Bitcoin and want to know the future prospects, then you have landed on the right place.
Bitcoin is the top and the most popular cryptocurrency in the world. It is an innovative payment network using peer-to-peer technology. It is completely decentralized using open source protocol. BTC is widely speculated currency around the world and remains controversial.
This article implies to provide you in depth information about the world’s leading crypto Bitcoin and its price prediction for 2021 and beyond. At the end all your thoughts will be cleared and you will have a clear picture about “hodling” bitcoin.
Table of contents
|Market cap||$ 1,027,339,555,784.0000|
|Circulating Supply||$ 18,688,293.0000|
|Trading Volume||$ 52,251,566,915.0000|
|All time high||$ 64,805.0000 April 14, 2021|
|All time low||$ 67.8100 July 6, 2013|
Bitcoin Fundamental Analysis
Bitcoin is a cryptocurrency that posses much similar features and utilities to the traditional currencies. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Introduced more than a decade ago by an anonymous person or a group of persons known as Satoshi Nakamoto, Bitcoin has definitely taken the world by a surprise. This has been possible especially with its impressive rate of adoption and incredible price movements. It would appear as though that bitcoin would have to fight its way straight into the heart of classical finance, its place in its single-handedly built crypto ecosystem, is however undeniable.
BTC Price Prediction 2021
In 2021, BTC is expected to receive an exponential growth. By the end of the year, Bitcoin price is expected to trade around $70,000 to $80,000. As the price remains strong above $50K, another small yet strong consolidation may be on the cards before the next leg up.
Bitcoin Price Prediction 2022
Bitcoin is expected to start the yearly’s trade somewhere above the levels around $65,000 and at the higher end, the price may begin with $75K to $80K. However, after attaining such high levels, the price may enter correction phase or consolidate itself for a slightly more time that the normal. Yet the bullish momentum may be intact to propel the price above $100K.
Bitcoin Price Prediction For The Next 5 Years
Will Bitcoin price go up? Bitcoin (BTC) is a very good long-term (1-year) investment. The Bitcoin price can go up from 6702.160 USD to 8386.730 USD in one year. The long-term earning potential is +25.13% in one year.
According to present data, the Bitcoin market environment potentially has been in a bullish cycle in the last 12 months. However, BTC price prediction to be in a positive trend in the future and might be good for investing. Many experts hope the price to smash and sustain above $150K in the coming days. However, the price may rally hard with an extreme positive market sentiments.
On the contrary, the price may be impacted only when the Country’s governments bring out some regulations or implement huge taxes. In such case, the price may slash down, yet may recover very soon.
Our Bitcoin Price Prediction
we believe that bitcoin this time will respect history and increase in price. Bitcoin price is trading comfortably above $50K since a notable time and hence we can expect a pretty good returns in the future. The huge institutional interest that poured in points out towards a bullish trend upcoming for the asset. Hence the price may swell to hit $70K to $80K by the end of 2021 and eventually surpass $100k in the coming couple of years.
Influencer‘s BTC Price Prediction
Tim Draper Prediction
The popular capital investor predicted that the price of bitcoin will reach $250,000 by 2022.
Max Keiser Prediction
TV host and popular bitcoin bull, Max Keisier predicted that bitcoin would hit $400k by the end of 2020. He made this pronouncement early this year and this was the first time he had to change his prediction of 2012.
Anthony Pompliano Prediction
Anthony Pmopliano (also known as Pomp) predicted that bitcoin would be worth $100,000 by the end of the year 2021.
Bitcoin (BTC) Price Technical Analysis
Bitcoin, like many other cryptocurrencies, barely had any value when it was introduced in 2009.
In 2010, when bitcoin was launched on the bitcoinmarket.com exchange, the price of one bitcoin was just $0.003. In May of 2010, the legendary bitcoin pizza story where a bitcoin developer going by the name Laszlo Hanyecz paid 10,000 BTC for two large papa Jones pizzas, took place and the price at which the transaction occurred was an estimated $40.
Bitcoin price saw a significant push when the cryptocurrency was mentioned on a popular news resource slashdot on the 11th of June, 2010. The price was up 10 times and bitcoin began to change hands at $0.08.
In November 2010, bitcoin price had risen dramatically and was trading at $0.35 on BitcoinMarket and $0.5 on Mt.Gox. Bitcoin had recorded great success that year and its market capitalization touched its first $1 million.
Early on into 2011, bitcoin price crashed significantly and the price consolidated between the range of $0.15-0.2. However, by mid-February, the price began another bullish round which pushed it to $1. This was supposed to have been instigated by initial social media attention on Twitter and the launch of Darknet destination, Silk Road where bitcoin had become the major currency of choice.
Some dramatic moves occurred in June. Bitcoin was initially trading at $10 when suddenly, the price rose to $32 within days. However, as volatility is a major property of our dear cryptocurrency, the price was hovering around $10 by mid-June. Although, later, before the end of the month, BTC was trading at $25.
The news of an exchange hack on Mt.Gox in August had devastating effects on bitcoin. By the end of the highly unstable period, bitcoin was changing hands at $2.5.
This was immediately accompanied by a period of accumulation which took place for about two years. By Q2 of 2013, in April, bitcoin price had touched $266 and the November bull run of the same year landed bitcoin in the sub $1,500 region. By late November, a major price correction took place for around 412 days and this brought bitcoin price back to $160.
By late January 2015, the BTC price had been consolidating between $200-300. The price accumulated gains gradually before Bitfinex announced a hacking in which about $120,000 BTC got stolen. Once again, the BTC price fell to around $500. Despite this downtime, the bitcoin price had touched $1000 by December.
The Historic 2017 Bull Run
This was where things stood until January 2017 when bitcoin initially took a stroll again. With the price reaching $1,150 and immediately crashing down back to $750 before the end of the week, the cryptocurrency began to leave some clues as to how much volatility was in stock for the year.
By mid-March, the price of bitcoin was alternating between $1300-$1,350 but crashed back to $900 before the end of the month. However, as the bulls showed great relentlessness, the price of bitcoin touched $1,350 again within the next month.
By May of 2017, bitcoin price had soared further, reaching as high as $2,600 and in June, the price was dancing around $3,000. The growth recorded in Q2 of 2017 was attributed to an increase in the number of network users, a condition which later caused the bitcoin network to fork and allowed BTC holders to receive Bitcoin Cash (BCH) for free on August 1. The aftermath of the network fork proved positive and bitcoin continued on its bullish trend.
When the news of the launch of BTC futures by major US exchanges broke out, it encouraged a further rise in price and by December 18, bitcoin recorded its All-Time-High (ATH) price of approximately $20,000 as it was changing hands at $19,891 on Bitfinex.
2018 Price Correction
Bitcoin started 2018 on a bearish note. Early in January, the price had set course for lower prices.
Authorities began to advocate for banning bitcoin, an endeavor of which was led by Korea, the price of bitcoin started a massive crash which initially stopped at $17,000 by late January.
Early February, bitcoin dramatically fell within a period of six days to reach $6,000 and continued on this path to $, 5,800 by the end of June. Several alternate ups and downs occurred in between until an obvious downtrend sent the price crashing as low as $3,200 by December. Although the price rebound slightly to touch the $4,200 region, the bulls could not take charge for long.
As of February of the year, bitcoin price was dangling around $3,300 per coin. In April, a bit of success took place when bitcoin broke resistance at the $4,200 level and before long, was trading at $5,400.
Around June, the price had risen to $13,000 but could not hold for long as the price fell throughout the year.
2020 – Block Reward Halving
Clearly, by now, investors have been anticipating the bitcoin blockchain block rewards halving. This drove the price of bitcoin into a bullish cycle which initially saw bitcoin recording around 45% price gain from its 2019 closing price.
To reduce rewards by half will affect the number of miners to receive bitcoins for mining blocks. In history, this process has had a positive impact on the price of the main cryptocurrency in the long term. Bitcoin emission is 21 million coins. Halving is designed to prevent coin inflation. The process ensures that the number of bitcoins is limited. So that the cryptocurrency becomes more scarce and valuable.
In recent halvings, bitcoin rallies took place about a year later. After the first halving took place in 2012, Bitcoin touched a record high of $1,000 by November 2013. And in 2016, after the halving event, Bitcoin made gains again and reached its all-time high of $19,819 on December 18, 2017.
At the start, the block reward was 50 bitcoins, and there were only a handful of miners. However, the two recent halvings already reduced the reward twice, and now it amounts to 12.5 bitcoins per block. In 2020, the reward dropped to 6.25 bitcoins.
After the halving event, the price continued to rally and maintained the trembled situation. However, the price got a major push in September when institutional interest started to pour into the market. Companies like MicroStrategy, Square, acquired BTC which accelarated the bull run and close the yearly trade close to $30K.
Bitcoin adoption withnessed a huge spike as it attain mainstream attention. Many institutions, governments, celebs, etc were attracted towards the crypto. On the other hand hedge funds like GrayScale started intensifying the BTC acqusition and by the end of first quarter, nearly 7% to 8% of the circulating supply was held by these institutions.
The price kept on rallying smashed $50K for the first time ever in mid of February and eventually formed an ATH at $64,863 on April 14, marking the first ever asset to be a trillion dollar asset. Now Bitcoin is also within the top 10 valued currencies outperforming many country’s traditional currencies to.
Bitcoin runs on the Proof of Work SHA-256 consensus algorithm.
Bitcoin takes upto 10 minutes to complete a transaction.
Yes, Bitcoin is legally accepted in several nations like The United States, Canada, Australia, United Kingdom and many more. Moreover, in many countries, the cryptocurrencies are well regulated and taxed accordingly.
Bitcoin halving event reduces the rewards given to the BTC miners to half every 4 years. The aim is to control the inflation. The recent halving reduced the rewards to 6.25 BTC per block and the next Bitcoin halving event will be taking place in the year 2024.