What highs (or lows) can Bitcoin reach by the end of the year? Watch the Cointelegraph’s latest video to find out!
PlanB’s Stock-to-Flow Model (S2F) is one of the most popular price forecasters in the Bitcoin space. It predicts the long-term evolution of Bitcoin’s price by weighing two main factors: the amount of BTC present (in stock) versus the number of recently used currencies entering the (current) market.
So far, the model has been eerily accurate. Bitcoin closed above the expected pattern price on February 26th and maintains momentum to meet the model’s year-end target of $ 288,000. With Bitcoin currently trading at around $ 56,000, it should rise more than 400% by December.
Anthony Pomplano of Morgan Creek Digital and Dan Morehead of Pantera Capital didn’t target $ 200,000 in 2021, but that doesn’t mean they’re back. Both believe that Bitcoin will close the year at more than $ 100,000, which will be twice the current price.
In a recent interview with Cointelegraph, Bump observed:
If suddenly there were around 8 million Bitcoins available and all that demand was in place, you would have a price spike.
Where bulls are there are bears. Peter Schiff is one of Bitcoin’s most outspoken critic of cryptocurrencies. He believes Bitcoin is a ballooning bubble that will eventually lead to financial havoc for most investors. According to him, it is only a matter of time before everything collapses to zero.
In an interview with Chef:
It does not matter that the price has gone up. […] In the end, the stock of fools will run out, and the purse holder will be the biggest fool.
Eyes on the prize
Who would have thought that there would come a day when Bitcoin price expectations of $ 100,000 or even $ 200,000 were considered moderate? Well, the day might finally come that day. According to unconfirmed reports, Citibank is targeting higher target prices for 2021.
And this is only in the short term. When the bitcoin price rises, make long-term predictions as well. Frank Holmes of US Global Investors and Scott Minerd of Guggenheim Investments estimate that half a million dollars could be raised in the next few years.
But that’s predicting a price that beats them all. Microstrategy CEO Michael Sailor expects Bitcoin to consume “ monetary energy, ” resulting in an unimaginable price:
In theory, it would likely drain all the cash energy simply looking for a value / safe-haven index store of property, cash, stocks, and bonds in the Bitcoin network.
Watch the video above to see our analysis of Bitcoin’s price targets in the short and long term. If you like this content, watch it and subscribe to Cointelegraph YouTube Channel!