The new year is a perfect time for Bitcoin predictions, especially after such an incredible run towards the end of 2020. Naturally there have been a rash of them already, going back to last year, so we thought we’d start 2021 by running through them – both positive and negative.
What the Bulls Say
Max Keiser: “The price of bitcoin has no ceiling because the amount of US dollars that will be printed has no limit”.
Andrew Keys, managing partner, Darma Capital: “As more institutional investors continue to buy bitcoin, the price will surge to $50,000.”
Peter Johnson, partner, Jump Capital: “I believe it will easily surpass $50,000.”
James Ledbetter, editor and publisher, FIN: “Some say bitcoin could reach as high as $50,000 next year, and although that seems extreme, it is not out of the question if investors move money from other assets into bitcoin.”
Kraken, survey results: “Bitcoin will have an average price of $36,000 in 2021, only if it keeps performing above $20,000.”
Thomas Fitzpatrick, global head CitiBank’s CitiFXTechnicals: “[Bitcoin could] potentially peak in December 2021…suggesting a move as high as $318,000.”
David Grider, lead digital strategist, Fundstrat: “We remain bullish and are raising our Bitcoin price target from $25,000 to $40,000.”
Tom Lee, managing partner, Fundstrat: “Bitcoin should do even better in 2021 than it did in 2020, so something above 300%.”
Mike Novogratz, CEO, Galaxy Investment: “It’s going to 20k and the. To 65 k [sic].”
What the Bears Say
Anton Wahlman, former sell-side analyst: “Bitcoin has gone to the moon and could go to Mars before people wake up and realize that it’s worth exactly $0.”
Jacob Wolinsky, Founder, ValueWalk: “I would never own one (Bitcoin): there’s no intrinsic value…it can literally trade anywhere – $100, $1,000, $10,000, $100,000, or even $1 million!”
David Rosenberg, economist: “It’s just a classic, follow-the-herd, extremely crowded trade. It’s in a massive bubble.”
Bitcoin Bulls Outweigh Bears
Bitcoin bulls are evidently out in force, with six figure predictions making an appearance again. Of course no one knows what will happen in 2021, but it’s clear that there has never been a better time to be a Bitcoin bull.