Bitcoin is no longer a new phenomenon. Its popularity has spread across the globe thanks to its massive price increase. It was the first cryptocurrency and has maintained its position as the leader in market capitalization. This year alone, it has doubled from $30000, breaking new grounds to trade above $60,000.
Bitcoin Price Predictions
Some analysts predict that the price of Bitcoin will increase to surpass $100,000 in the near future, especially with the growing institutional adoption. While there are numerous reasons for the expected price rise in the coming months, investors should take the predictions with a pinch of salt. A good number of forecasts never see the light of the day. That said, we will explore the bitcoin prediction 2021 from several experts and prediction platforms.
TradingBeast Bitcoin Predictions
Tradingbeasts strives to provide accurate prediction by combining linear regression, polynomial regression, and historical data. These predictions are majorly a suggestion of possible future prices and not entirely as investment advice.
Bitcoin is currently trading at $33,264. According to trading beast predictions, the expected average Bitcoin price in July is 33,792. The predicted maximum and minimum prices are 42,241.230 and $ 28,724.036 respectively. The platform forecast that bitcoin will reach a maximum price of $ 42,798.840 in August and reach 43,365.031 in September.
According to the forecast, bitcoin is expected to average around 35,136.628 in October and reach a maximum of $43,920.785. The site's predictions show that bitcoin will continue to rise through November to average $ 35,602.216. During the month, the expected maximum price is $44,502.770. According to the trading beast projection, the expected minimum price in December is $30,649.672, while the maximum price is $45,073.047. The cryptocurrency is expected to close the year at an average price of $36,058.438.
Digital Coin Price predictions
Digital Coin Price forecasts show a big growth of bitcoin. According to the platform predictions, the estimated lowest bitcoin price in the future is $132,993.52. Additionally, the site predicted that the price could rise to a high of $165,694.38.
Are you planning to invest in bitcoin? Well, let's look at the bitcoin price prediction for the remaining months of December. Before we look at the prediction, it is essential to point out that the site had predicted that bitcoin would trade at an average price of $53,110.35 in July.
That said, the predicted average price of bitcoin in august is $45,448.69. The Price is expected to increase up to $55,657.75 in October before falling to $44,377.87 in November. However, the platform forecast price will rise again and close 2021 at an average price of $55,168.39. In general, Bitcoin price prediction sites believe that bitcoin is an excellent investment.
While Bitcoin price has dipped in the past few weeks, the cryptocurrency is an outstanding long-term (1 year) investment according to the wallet investor system. The site states that bitcoin is a profitable investment expected to yield a 279.27% return on investment.
According to wallet investor projections, bitcoin is expected to trade at $40,709.30 on 31st June 2021. During the last day of the month, the price is forecasted to range between $34,208.10 to $47,555.60
In July, the price of bitcoin is expected to trade between $31,645.50 and $47,777.90. The projection shows the cryptocurrency will reach a maximum price of $48,963 in August and break above the $50,000 territory in October. Ultimately, it is expected to trade near the all-term high in December.
Cryptocurrency Price Predictions
As mentioned, bitcoin is on a downtrend. While some traders posit that the bearish movement is a pullback, others think bitcoin is reversing after a bull run experienced since mid-last year. According to cryptocurrencypriceprediction.com, bitcoin is expected to trade at $60,933 in June.
The prediction shows that bitcoin could reach $90,490 in July before rising to $100,949 in August. As per the prediction, the price increase will continue in September and eventually reach $115,045 in October. However, the projected price will fall in November to $85,488 and trade at $100,949 in December.
Well, these projections correspond with several forecasts from seniors analysts and serial investors. If these projections are anything to go by, October is a perfect month for offloading your bitcoin investment. Generally, the platform projection shows that bitcoin is an excellent short-term investment.
Check Out: Why Bitcoin Will Skyrocket
CryptoPredictions.com in their Bitcoin Predictions used analysis of many experts and what they forecast for the cryptocurrency. One of these forecasts also included a report from Bobby Lee, the CEO of BTCC who claims that Bitcoin can reach a new all-time high of $300,000 in the 4th quarter of 2021.
Another interesting predictor for BTC price is a senior analyst at Citibank Thomas Fitzpatrick who projected that bitcoin could soar past $318,000 by December 2021. While Thomas' report was solely meant for institutional clients, the global head of FX Technical insight product used technical analysis and weekly charts to arrive at his projections. His analysis draws parallel to the gold market in 1970 and acceleration to money printing by central banks.
Fitzpatrick is not the only senior analyst who has predicted the bitcoin price increase. Shervin Pishevar has also forecasted that bitcoin will hit $100,000 by the end of 2021 in a Twitter post. The angel investor and venture capitalist is the cofounder of Sherpa Capital.
Another analyst who believes bitcoin will rise is Chamath Palihapitiya. The Founder of social Capita has included bitcoin in his hedge fund and owned 5% of all bitcoin in circulation at some point. He believes bitcoin will reach $200,000 in five years and increase to $1 million by 2037. Kay Van Petersen, an analyst at Saxo Bank, believes bitcoin will grow to $100,000 by 2027.
Bitcoin has enjoyed quite a successful year thanks to a massive uptrend. Many analysts and prediction sites forecast that the bull run will continue in the remaining months of 2021. However, cryptocurrency has experienced a downtrend in the past few weeks. While it is prudent to consult the forecast, it is imperative that you include other technical and fundamental analyses. In a nutshell, the predictions generally point to a price increase in the future.
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