Where do you think Bitcoin can go in 2021?

Original title: "2021 Latest Bitcoin Price Forecast Inventory: What do the big guys think about the market outlook?" "

Original source: Ruisi Finance

Every year, there will always be many analysts or industry leaders in the market who are interested in Bitcoin To make a prediction on the price trend in the coming year, Ruisi Finance sorted out the predictions of the bitcoin price in 2020 by a group of bigwigs to see which of them were predicted by gods and which ones were slapped in the face.

Bitcoin Price 2020 Forecast Inventory 

Rise Finance has counted 28 industry insiders and institutions' predictions on the price of Bitcoin in 2020 and the actual price of Bitcoin For the prediction of the given range rather than the specific price, we uniformly take the end closer to the actual price as its predicted value. For those narratives that are proposed to be "above" or "below" a specific number, that value is uniformly adopted as their predicted price.

According to the OKEx market, Bitcoin will skyrocket all the way in 2020 and reach its peak on December 31 at the end of the year, reaching US$29,309, approaching US$30,000 .

Looking back at these forecasts for Bitcoin prices in 2020, most of them have slight errors, and the closer to the forecast time limit, the more accurate they are.

What can be called the "God" prediction is the opinion of Sonny Singh, CCO of BitPay, an encrypted payment company. It's not that his price prediction is accurate, but he proposed in January that "a black swan event will occur in 2020 and push the price of Bitcoin to $20,000."

Beam CEO Alexander Zaidelson, CoinCorner CEO Danny Scott, and encryption analyst Ethereum Jack are the most accurate price forecasters, and the error is basically within 5 % Inside.

In January 2020, CoinCorner CEO Danny Scott and Beam CEO Alexander Zaidelson predicted that Bitcoin would reach $28,000 and $30,000 by the end of the year, respectively. At the time of their forecast, Bitcoin price was in the range of $6870-9576.

In February 2020, encryption analyst Ethereum Jack tweeted that for Bitcoin holders, whether they are long or short, do not let short-term Volatility and mood influence longer-term judgments. In the long run, Bitcoin will still rise, and by December 2020, its price will reach between 24,000 and 28,000.

At that time, the price of Bitcoin was still fluctuating in the range of 8000-10000 US dollars.

The predictions of former domestic Bitcoin China CEO Bobby Lee and LeBit CEO Jiang Zhuoer are relatively accurate.

In April last year, Li Qiyuan predicted that Bitcoin would reach $10,000 after the block reward was halved. By December 2020, the price of BTC will reach $25,000.

Jiang Zhuoer said on May 12, the day of the halving, that there may not be strong selling pressure after the halving. In order to maintain daily operations and pay electricity bills to buy new mining machines, miners will choose to sell the coins in their hands, leaving only 10-20% of the coins in their hands. Therefore, after this halving, the number of bitcoins sold by miners is very large. If it is small, it will not have a great impact on the currency price. The halving has changed the supply and demand relationship of Bitcoin, so I am optimistic about the price of the currency in the later stage. It is expected that it may rise to $25,000 in 2020, and the halving bull market will last for 3 years.

According to the OKEx market, Bitcoin broke through $10,000 on June 2, reaching $10,367 within a month after the halving, and reached $10,367 by December. On the 26th, it broke through 25,000 US dollars to 25,693 US dollars.

In addition, Mark Yusko, the founder of Morgan Creek Capital Management, is also more accurate in his forecast for the rise of Bitcoin in 2020. He said in an interview on the show in February that due to the increasing adoption of Bitcoin, the upcoming halving and the decline in global interest rates, Bitcoin may triple or triple during the year.

From the beginning of last year to the end of the year, Bitcoin did increase by 300% during the year.

Among the Bitcoin price predictions for the end of 2020, the most famous is undoubtedly John McAfee's $1 million prediction. He has repeatedly boasted in public that he would eat his own genitals if he was wrong.

However, he backed down in early 2020, claiming it was nothing more than a sensational stunt. Well, after all, his "prediction" is a bit out of reach.

With the exception of McAfee, most forecasts are actually pretty close. This is because it is extremely difficult to predict the price of an asset notoriously volatile a year or more in advance.

People who are asked to predict the price of bitcoin are usually insiders, and in most cases, they hope that bitcoin will rise.

Psychological research shows that people tend to be overly optimistic when making predictions. A 2011 study showed that being overly optimistic appears to be an integral part of human nature, regardless of gender, race, nationality and age.

The reason why the price forecast for 2020 is basically accurate is very simple. With the global central bank releasing water, the depreciation of the US dollar, the impact of the epidemic, and the halving of Bitcoin, etc. Against this backdrop, it should come as no surprise that the price of Bitcoin has risen dramatically.

Bitcoin price outlook

So what about the price forecast for 2021 Woolen cloth? This time, it seems that many in the industry have set high goals again.

Market analyst Artem Shevelev predicts that by mid-2021, Bitcoin is expected to break through to a price of $70,000 or higher. Others who hold the same view include Bruce Ng and Juan M. Villaverde, analysts from cryptocurrency rating agency Weiss Ratings.

Encryption analyst MagicPoopCannon believes that Bitcoin will test a price of $80,000 to $90,000 in mid-2021.

The more exaggerated is Pantera Capital founder and CEO Dan Morehead. In a letter to investors, he predicted that Bitcoin will surpass $500,000 in August of this year.

As for the price forecast for the end of this year, most people are bullish to $80,000-100,000.

Morgan Creek co-founder Jason Williams tweeted that by December 2021, the price of Bitcoin will exceed $80,000.

Morgan Creek founder Anthony Pompliano said that Bitcoin will reach $100,000 by 2021.

Cryptocurrency analyst PlanB predicts that Bitcoin will reach $100,000 by 2021, and the peak of the next bull market will reach $288,000.

However, compared to predicting the price at the end of 2021, most people who are bullish on Bitcoin are more inclined to predict the price of Bitcoin in the next few years or even decades.

Galaxy Digital CEO Mike Novogratz said that Bitcoin will reach $50,000 or more in the next two to three years.

Robert Kiyosaki, author of "Rich Dad, Poor Dad", said that Bitcoin will reach $75,000 within 3 years.

A Bloomberg research report released in October last year stated that by 2025, the price of Bitcoin is "expected" to reach $100,000.

Kraken's business development director Dan Hold said that more fiat currencies will quickly flow into the currency market during this bull market cycle and push the price of Bitcoin to 100,000 Dollar.

Former Bitcoin China CEO Bobby Lee said in an interview that the price of Bitcoin will exceed $100,000 in the next two years, and the final price will reach $100 Ten thousand or even higher, this is the biggest investment opportunity of our lifetime.

Crypto currency analyst Crypto Michaël tweeted that Bitcoin is going through its third price cycle, and each cycle is much longer than the previous cycle, The current ongoing cycle may end in 2025-2026 and will reach a new high of $150,000.

Cryptocurrency analyst Rekt Capital said that after the first and second halving events, Bitcoin rose by 13,378% and 12,160%, respectively. If Bitcoin performs similarly after the third halving, its price could reach $385,000 to $400,000.

Real Vision founder Raoul Pal said in an interview that the price of Bitcoin may reach $1 million in the next 5 years because it represents the future of the financial system.

Whether the above price forecast is accurate, we will see in the coming year.

Original link

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia