For the next year, the market observers and crypto personalities have given their predictions, which are all bullish. Behind such progressive speculations for the top digital asset, there is an effect of massive accumulation on the part of institutional players.
I will mention the predictions of those who have achieved some target in crypto adoption at a large scale. In the year-to-date timeframe, the price value is up more than 200%, which tops any other asset in the world except Tesla. Bitcoin is currently in a bull run, but this one is different from 2017 when there was an accumulation of the coin by retail traders. This year has witnessed an inflow of massive investment from institutional investors.
Prominent crypto analyst and partner at Morgan Creek, Anthony Pompliano, believe the flagship cryptocureency will achieve the figure of $100,000 next year. However, he also proposed speculation that it may target $400,000 for the long term case because gold is now threatened by Bitcoin’s potential.
Famous chartist and analyst Willy Woo also seems bullish to this extent for the first time. According to him, the shortage of supply and ‘hodling’ on a big scale could drag value in the upward direction. Woo said:
“My Top Model suggesting $200K per BTC by end of 2021 looks conservative, $300K not out of the question.”
Gold has the status of being stored as a hedging instrument for years, but now the status is threatened by the leading cryptocurrency. The price of Bitcoin could only reach $400,000 or high if it catches the market capitalization of gold.
Citibank’s analyst recently claimed that the price could achieve the figure of $318,000 next year. The analysts at Citibank believe the bull run is in the middle state, and it still needs to show some bigger levels.
JP Morgan, one of the largest banks of the United States, wrote in a note to investors that adoption of the top digital coin by institutional players has just started, and if the trend remains dominant for a long period of time, the price could claim new highs while gold’s price will definitely decrease.
Mark Yusko, the CEO of Morgan Creek, the BTC value could surpass $100,000 in 2021. “People ask if I still believe in my model. To be clear: I have no doubt whatsoever that Bitcoin S2FX is correct and Bitcoin will tap $100,000-288,000 before December 2021,” he stated.