What will bitcoin be worth in 2021 ?
What will bitcoin be worth in 2021? Almost a month after halving, Bitcoin’s price fluctuates roughly between $8,800 and $10,200. In recent months, the trend has clearly been on the rise, especially since the low of mid-March followed by the widespread crash of financial markets. Today, we review some forecasts for next year’s heavyweights in the sector.
What will bitcoin be worth in 2021 by Mark Yusko
Mark Yusko is a Bitcoin bull. Morgan Creek Capital Management’s boss and CIO believes that BTC “is probably the biggest enrichment opportunity of his life. According to him, web 3.0 will emerge thanks to cryptos. And this transition from web 2.0 to 3.0 will be even more important than the previous one. It sees Bitcoin at $100,000 by the end of 2021 due to the following 5 factors:
- This is a safe haven value not correlated to other assets: in the long run, this correlation is only 0.15, which is very low
- Organic growth: Over the long term, Bitcoin adoption continues to grow based on the number of wallets, token distribution, number of practical applications, transactions, .
- The message is conveyed through the educational efforts of the community: more and more enthusiasts take the time to educate the masses, to explain the benefits of Bitcoin to the average citizen
- Young people adopt Bitcoin: while older investors tend to see the world differently, especially gold, young people tend to turn to Bitcoin when it comes to choosing a safe haven
- A fair value generated by scarcity: there will be no more than 21 million BTC. While many chips will be lost in the meanderings of the block chain. Bitcoin’s fair value Bitcoin based on its stock-to-production ratio was about $10,000 in 2017. Almost magically, this figure was reached 6 days after the model forecast.
Hence its Bitcoin Bitcoin 2021 forecast at about $100,000 by the middle of the year.
What will bitcoin be worth in 2021 from German bank BayernLB
The publication of a paper on Bitcoin by the German state-sponsored bank BayernLB caused quite a stir at the end of 2019. Indeed, analyst Manuel Andersch was anticipating a Bitcoin price of $90,000 based on his stock-to-production model. This is the same concept used by the famous whale PlanB to make predictions of the price of BTC (stock-to-flow ratio).
Dan Morehead: Bitcoin at $500,000 in August 2021, but only if…
Many bulls cite the $100,000 as a prediction of the price of Bitcoin 2021. However, if you ask some other what will bitcoin will worth in 2021, predictions can be much more higher. Some are even bolder, even if they can take precautions to secure their backs. Among them is Dan Morehead,the boss of Pantera Capital, a crypto hedge fund. According to him, if history were to repeat itself, post-halving the price of Bitcoin should experience a bull market of about 446 days that could bring BTC to more than $530,000 in August 2021.
Morehead points out, however, that nothing is taken for granted:
“IF HISTORY WERE TO REPEAT ITSELF… OBVIOUSLY, THIS IS A GREAT IF. THIS PRICE SEEMS RIDICULOUS… ALL I’M SAYING IS THAT THERE’S MORE THAN A 50% CHANCE OF BITCOIN APPRECIATING, AND STRONGLY. »
Bitcoin Antony Pompliano’s BTC 2021 forecast
Antony Pompliano,the co-founder of Morgan Creek Digital, a crypto investment fund, believes Bitcoin will reach $100,000 by the end of 2021. This forecast is based on a double argument. Namely the fixed supply of BTC and the increase in demand for cryptocurrencies.
He made that forecast in February 2020, when Bitcoin had just crossed the $10,000 mark. The halving and prevailing macroeconomic conditions may push the price of BTC significantly upwards, according to Pomp. He also indicated that quantitative easing will significantly devalue the value of traditional currencies. Coupled with halving, this can only be positive for the price of Bitcoin in 2021..
Pompliano also believes that more and more Wall Street players will invest in cryptocurrencies.
Despite a sharp fall in its price a few months ago, it is clear that Bitcoin is doing much better at the moment, even despite the 15% fall last weekend, mainly caused bypre-Halvingmassliquidations. So much better than some experts think that with the advent of said halving the future upward trend will be punctuated by record prices. In any case, this is a Dan Morehead analysis, CEO of Panthera Capital, in a letter to a his investors. Very optimistic, he predicts a surge in prices, which could peak at more than $500,000 in August 2021. So what are the elements that allow him to make such predictions? Explanations.
The cycle of price increases generated by the next halving
It has not escaped anyone in the middle that previous halvings have been followed by an increase in bitcoin prices in the market. As part of this halving, most reviews are leaning towards a repeat of this scenario. Thus, Dan Morehead estimates that “if the new bitcoin offer is cut in half, all other things being equal, its price should increase.“.
Dan Morehead, strong in calculation
To give more weight to its subject, it was based on the evolution of BTC prices in cycles related to previous halving. First, it recalls that bitcoin has historically reached its lowest level 459 days before the halving..
As a result, it tends to start an ascent that tends to turn into a real explosion after the reduction of half of its offer. He then points out that the upwellings after halving lasted an average of 446 days to the peak of this bullish cycle. According to him, the market reached a low of 514 days during this cycle before the halving. Assuming history repeats itself, Dan Morehead thinks that “bitcoin would peak in August 2021 at $533,431.”. While the sum may seem staggering, Panthera Capital’s CEO says there is still a more than 50% chance of seeing a bitcoin explosion.
Bitcoin is doing better than gold and oil despite the crisis
Dan Morehead didn’t just look at the story to predict bright future for bitcoin. It analysed the performance of the cryptocurrency in the current year in relation to assets such as gold and oil. Thus, from the beginning of the year to April 29, bitcoin grew by 16%. It thus exceeds gold, whose price has increased by only 13% where oil is falling by 75%.
Speaking of oil, he points out that his compound annual growth rate over 35 years has never even reached 6% at the best of times. By comparison, bitcoin over 9 years is 215%. The CEO of Panthera Capital later took pains to recall that the cryptocurrency was born during a financial crisis. There is no doubt in his mind that it will grow in the course of this one.
If Morehead’s prediction is puzzling with the advanced price, the upward trend remains plausible. The breakthrough of the BTC during the previous halvings and the current form of cryptocurrency in times of crisis go in this direction.. It should be noted that this is not the first time that Panthera Capital has reported the most optimistic predictions regarding the increase in the value of Bitcoin. A few weeks ago, the company reported impressive forecasts, this time within 12 months
What will bitcoin be worth in 10 years?
According to a report came out earlier this year, BTC has a huge potential. As far as other cryptos like Etherum, Litecoin, Bitcoin cash and Stellar. The report noted we should see a massive surge before 2025.
This report is based on the TAM (total addressable market), which is worth $212 trillions. Given that bitcoin has only penetrated 0,44% of the total market, we could see a :
- $400 000 bitcoin (it would be possible to buy a home with only one bitcoin)
- $3600 Etherum
- $2252 Litecoin
- $7 Stellar
- $100 XRP
This price predictions consider a 10 % penetration rate.