Analysts ' forecast for Bitcoin price in 2021
Before bitcoin's surprise price rise on December 26, 2020, it crossed the 26,000 USD .
Cryptocurrency has had an amazing year amid a crazy global economy. As the currency gained global popularity, analysts are racing to predict its future price. These are the most prominent forecasts monitored by bitcoin.com news specialist on the digital currency as published by Forbes: conflicting forecasts in 2020, many analysts have given their predictions about the future value of bitcoin, the price it may be in 2021, and as the currency rises throughout the year, researchers from finder.com opinions of 47 crypto experts on their forecasts for 2021. Survey completed finder.com also before the currency crossed the 20000 USD, most participants (58%) said that the uptrend would continue at least until the second half of 2021. According to the survey, participants expected the price of cryptocurrency to double by the end of 2021. Some also predicted an average price of 51,951 USD per bitcoin. However, 52% of respondents expect the currency to fall sharply after the 2021 peak. In mid-November, billionaire investor and founder of Financial Services Company Galaxy Digital, Mike Novogratz, predicted that bitcoin will reach 65,000 in 2021. Novogratz predicted this price range when he gave some advice to the star of the popular series Game Of Thrones Maisie Williams in a tweet: "I bought more bitcoin last night at 15800". "I think it will reach 20 thousand and 65 thousand in 2021,"he added. At a time when Bloomberg analyst Mike McGlone also predicted some future bitcoin prices, he said that by 2022, the price of the cryptocurrency could reach 1 170 thousand. By the end of 2021, bitcoin will be trading at 3 318 thousand, according to Citibank analyst Tom Fitzpatrick's forecast, noting that bitcoin will likely see unimaginable highs followed by painful corrections. Bitcoin is the new gold with fewer restrictions: "gold has limitations, such as storage and difficulty carrying,"Citibank's CEO said. During an interview on May 6, 2020, the CEO of capital management giant Morgan Creek, Mark Yusko, predicted that bitcoin could easily reach a hundred thousand dollars in 2021 or 2022. "If bitcoin comes to the gold equation, meaning that the market value of bitcoin is equal to the market value of gold, which I think makes perfect sense, then we should see a price of 400 or 500 thousand at some point,"Yusko stated at the time. There are some analysts who are not optimistic about the future of the cryptocurrency, the financial columnist of the investment news site Seeking Alpha, Anton Wolman, believes that bitcoin will become worthless. The Times UK's financial contributor, Oliver Cam, told his readers that cryptocurrencies are a fad that is best avoided, despite Paypal's acceptance of bitcoin. Cam wrote when bitcoin was trading at
12,931 per unit: "keep your wallet away from cryptocurrencies. That's because you can't appreciate it. It's different from bonds that pay interest or stocks that pay dividends or property that provides an income from the rent, bought a gamble".