Early 2020, On our prediction portal we predicted Bitcoin(BTC) will be reaching $20k USD price in the month of December 2020. As of now, Bitcoin price heading to achieve this figure and expected to break all-time high record i.e. $20,089 USD(17th Dec 2017). However, prediction war continues with time, some experts believe that Bitcoin will follow bullish trend in the year 2021 and hit $100,000 USD. So, people who brought bitcoin at lowest price of $3.5k USD already claimed almost 500% ROI in period of less than a year.
Top 5 Bitcoin Predictions
Recently some really bold predictions made by analysts following resistance breaking climb in bitcoin prices. We listed few out of most searched and trending predictions.
- CITI bank managing director predict Bitcoin can reach $318k USD in December 2021
- Bloomberg Intelligence believes Bitcoin may worth $100,000 in year 2025.
- JP Morgan Biggest American bank makes bullish prediction about Bitcoin, where prices can climb 4x from 2020’s highest recorded price.
- Stock to Flow expect bitcoin to hit $288k in next 4 years i.e. after next halving event.
- CEO of real vision group Raoul Pal predicted that Bitcoin may hit $1 million mark before 2025.
Well this potential price might be selective but will this prediction turn out to be real? Bitcoin playing major role in digitalization of currency, as it started from decentralized network and now it reaches to decentralized finance. in 2020, blockchain technology continue to upgrade and it has innovated with ‘n’ number of DeFi project. But, we know, no-one can take a position of Bitcoin in terms of Market Capitalization, because no one can deny the fact of Bitcoin is first ever digital currency project built on Blockchain technology. So, as per analysis on the data of Binance, Coinbase and other top crypto trading platforms, there is a significant growth in the traffic and number of users in late 2020. Users are now taking more interest in buying bitcoin and other altcoin, so this bull run might be effect of all this sudden growth in investor and users.
JP Morgan may also behind this bullish run after they started believing in Bitcoin after launching their own cryptocurrency. Initially they have made some negative comments on bitcoin, by calling it as fraud or scam. Just like Wikipedia who delisted Bitcoin page. Right now, people or Organizations, who called Bitcoin, a scam have already started investing and accepting bitcoin as better payment/transaction method. In 2020, Bitcoin and other blockchain has improved their network and we can see lesser number of hacks and security issues. Ethereum is also upgrading their network to perform higher number transaction with version 2.0. rise of DeFi already hype blockchain industry because they started providing highest interest with staking stable coins and other fluctuating coins. So, DeFi projects after having a great run before end of 2020 also helping Bitcoin to gain more market volume.
At the end, we know it is really hard to predict Bitcoin and other altcoin, but many believe that 2021 year, will be year of Cryptocurrency/Blockchain. In recent times along with Facebook other tech giant companies like Google, Samsung and IBM also joined blockchain network. Blockchain is now offering better security, privacy along with cheapest and fastest way to complete huge size transactions. Crypto AMT increasing in number around the globe and more offline store started accepting Bitcoin or other coin as a payment. In Kenya singer Akon launched his own cryptocurrency where it can be used as currency to purchase and have transactions. business, industries, apps, store, games, IOTA, forum, betting and another sector also joining Blockchain network.
After having disaster run since 2018 blockchain market, now finally gaining well deserved momentum in late 2020. As things are getting better and all going into favor of blockchain, so probably till 2022 we could see improvement in market cap volume. In future more we could see more people will join technology and it will ultimately boost up market.
Many who believe that Cryptocurrency/BTC trading is not everyone’s cup of tea. For them we can say if one can use Digital Payment Applications like Paytm/ GooglePay/ PayPal then same person can also use Binance/ WRX/ CoinBase. Although this adaptation process might take longer but it will happen for sure. After knowing benefits of Cryptocurrencies like speed, reliability, transparency and simplicity over traditional money/currency, it will definitely help individual to move towards digital currencies.
There is no perfect algorithm or tool to predict value of any stake or cryptocurrency. You should always do your own research or take help from finance advisor, before making any decision to invest in cryptocurrency or stake market. You may end up with loss of all your principle amount because of highly volatile nature of cryptocurrencies. Always remember invest in cryptocurrency/stake market at your own risk. Thanks.