Business & Investment

Forecast 2021: Is Bitcoin Worth Investing? -Analysis and Forecast-December 27, 2020

Is it “21st century gold” or is the soap bubble likely to burst? Over the past year, we’ve been repeatedly discussing the strengths and weaknesses of Bitcoin, And I analyzed the reason for the ups and downs. Therefore, in this review, we have decided to cite only expert opinion on the outlook for major cryptocurrencies.

You may be patient and decide to invest in Bitcoin for long-term profitability. Or, conversely, I don’t want to take risks and prefer to forget this word altogether. In general, it’s always up to you to decide whether to buy, sell, or just do nothing with Bitcoin.

Optimist Prediction: Only in the North!

1.1. Richdad Poudad and entrepreneurial best-selling author Robert Kiyosaki I’m sure cryptocurrencies will continue to rise $ 50,000 Next year, more institutional funds will flow in. Entrepreneurs who said “America is in trouble” are eliminating the “death” of the US dollar and the “bright future” of gold, silver and Bitcoin.

“The rise of Bitcoin is outpacing gold and silver,” he writes. – What do you mean? This means that you need to buy as many Bitcoins and precious metals as you can and don’t postpone them. The train has already left. The dollar is dying. When the dollar goes down, the price doesn’t matter anymore. What matters is the amount of gold, silver and bitcoin you have. “

2..According to analysts JP Morgan Chase Bitcoin, a bank holding company, outperforms gold as an alternative currency and has a significantly higher potential for continued growth. According to their report, the capitalization of the crypto market is not yet large enough. JPMorgan estimates that the physical gold market, including ETFs backed by it, is $ 2.6 trillion.Bitcoin must hit $ 130,000 A mark to catch up with precious metals in this regard.

According to JPMorgan Chase, institutional investors will be able to invest up to $ 600 billion in the first cryptocurrencies in the coming years. This requires US, European and Japanese insurers and pension funds to invest only 1% of their assets in Bitcoin. However, at this time, there are still regulatory requirements for the selection of investment assets in terms of such traditional investor risk and fulfillment of obligations. This may limit the amount of money available to purchase BTC.

3.3. Famous Dutch cryptanalyst Next meansDeveloped a stock-to-flow valuation model for the popular BTC, believes that the price of reference cryptocurrencies could rise to $ 100,000 By the end of 2021 and probably until $ 300,000.. PlanB admits that his predictions sound very optimistic. However, the rise in Bitcoin prices in the past allows him to make such predictions.

Experts say that during the market correction period, Bitcoin whale algorithms will pick up hundreds of 0.01 BTC from the “weak hand”. These coins then “disappear” in a “deep” cold vault. This leads to a supply shock and causes a bull market.

4. Scott Minard, Investment Director of Guggenheim InvestmentsConsiders Bitcoin as a significantly undervalued asset, even at its current price level of around $ 23,000. “Our basic job shows that Bitcoin should be worth about $ 400,000“He said in a conversation with Bloomberg TV.

Analysts at Guggenheim Investments came to this conclusion based on two factors: the limited emissions of Bitcoin and its value compared to gold. Bitcoin, unlike gold, “has an extraordinary value in the context of trading,” according to Minard, although cryptocurrencies share many common features with precious metals.

5.5. Popular analyst and founder Quantum Economics Matty Greenspan “We are at the very beginning of the time for mass investors to enter the crypto zone. If demand continues to grow and supply is limited, we can see the following growth: 250% At the same time, Matty Greenspan excludes the scenario where BTC soars to $ 400,000. “The rally will definitely continue, but we don’t have to talk about astronomical numbers yet,” the analysts summarize. Unlike 2017, the market is dominated by companies and large investors who are interested in stability, not speculators. The entry of these large companies leads to the fact that volatility is weakened and the area becomes more attractive.

6.6. Bloomberg Experts believe that there is no reason to change the direction of Bitcoin’s movement now, and the cost is $ 50,000 “The dollar is slowly losing its position and ducking other fiat currencies,” the authoritative agency wrote. “All this is noticed by investors who are forced to switch to alternative assets.” Bitcoin currently offers significantly more support, minimizing the possibility of pullbacks. Open interest in the CME Bitcoin futures market exceeded $ 1 billion for the first time in history. This also shows the growing support from investors.

In the long run Bloomberg analyst Mike McGrone Suggests that the prices of major cryptocurrencies may exceed within 5 years $ 100,000..

7. A similar view is followed by American millionaires Paul Tudor Jones, Head Tudor Investment Corporation“Cryptocurrencies are facing a crazy flight of rockets with ascending and descending along the way,” he said. “Within 20 years, Bitcoin will be significantly higher than it is now. From here, the road is north,” Yahoo! Treasury quoted him...

8.8. Report FinTech company indicators It’s very interesting.This is due to the fact that the numbers shown there are not the opinions of individual experts, but the average result of a survey of more than 156,000 participants in the crypto market where Bitcoin will rise next year. $ 29,569.. Respondents who make the most accurate forecasts, the so-called “super-four casters,” expect even greater growth on average. $ 32,056..

9.9. by Mike Novogratz, Head of Galaxy Digital At crypto banks, everyone needs to invest 2-3% of their money in Bitcoin. “It’s enough to wait a bit after that. Surprisingly, the cost of cryptocurrencies is significantly higher. After five years, your assets will multiply,” he writes.

10.10. According to experts Stack fund, Bitcoin is ready to rise to new highs $ 86,000..

11.11. Director Global Macro Investor Raoul Pal Even conservative institutional investors, who usually prefer precious metals, expect to start investing in Bitcoin next year.Therefore, Pal made the bold assumption that the rate of the first cryptocurrency could be reached. $ 250,000 In a year, he ordered the sale of all the gold he had to invest in BTC and ETH at a ratio of 80:20.

12.12. More exciting predictions were given by Founder of Gemini Cryptographic Exchange Tyler Winklebos, One of the twin brothers called the first cryptocurrency millionaire.He is worth Bitcoin on CNBC $ 500,000 mark.

“The question is not whether Bitcoin costs $ 500,000, but how quickly it happens. In fact, even this rating is very conservative to me. The game hasn’t actually started. “Hmm,” said Tyler’s brother. Cameron Winkle Boss..

13.13. Similar numbers are also called by members of the board of directors Bitcoin Foundation Bobby LeeAccording to who the price of the main coin can reach $ 500,000 By 2028.

14.14. According to experts from one of the shareholders of Tesla, ARK Invest Fund, Bitcoin’s capital can exceed $ 5 trillion. This can take up to 10 years, but large investments can start earlier. This figure could reach $ 1 trillion over the next five years, after which growth will occur at a faster rate.

15.15. Tom Fitzpatrick, Managing Director of one of the world’s largest banks, has released a forecast. Citibank. According to him, thanks to the integration of digital gold status, the rate of the first cryptocurrency can be reached $ 318,000 By the end of 2021.

In his new report, Bitcoin: Gold in the 21st Century, Fitzpatrick wrote: He further concludes that monetary stimulus measures, backed by a coronavirus pandemic, have now created a situation similar to that of the 1970s, when dollar inflation led to increased demand for gold.

16.16. Popular TV presenter and Wall Street veteran Max keizer At the current level, Bitcoin futures traders believe they are holding back BTC prices to give institutional investors the opportunity to “load boats.” But when assets reach $ 28,000 (an intermediate benchmark set by Kaiser), the number of coins sold goes to zero, and thanks to the deficit, their prices explode to the height of space.

“For the poor in this world, the current price and availability of BTC is the only opportunity in life to buy confiscatable hard money before its price rises 40-80 times, and prices soar. To the level of golden parity around $ 400,000.. “

“Demand for Bitcoin is growing almost exponentially,” he says. “The supply is mathematically fixed at 900 coins per day. And by 2024, the supply will be halved to 450 BTC per day. That’s why I don’t think I have the opportunity to buy coins. $ 1,000,000 per person BTC. On the other hand, Gen Z, who bought a lot of Bitcoin for less than $ 100, will be a new global power elite. The world order is changing … ”

Pessimist Prediction: Flies in Ointment

1.1. Despite being generally optimistic Galaxy Digital CEO Mike Novogratz We believe that Bitcoin instability is expected in the near future. Prices in 2021 will certainly never return to zero, $ 14,000Mark, or $ 12,000.. It is unlikely that it will be adjusted to this level, but investors should be prepared for a loss of 30-40%.

2.2. According to the average forecast of FinTech company indicators, The lower limit of the trading range of BTC / USD pair in 2021 will be the following level $ 15,000.. “Super Forcaster” is not optimistic, $ 12,000And, according to the calculation of the “Hybrid Intelligence” indicator, the Bitcoin rate will not drop below next year $ 16,000..

3.3. Matt Maley, Strategist for Financial Services Company Miller Tabak, We believe the cryptocurrency market will face a major setback next year. According to him, the main coin could fall by about 25-30 percent in the first few months of 2021. According to Marie, the market is overheating due to large investments, so it’s no wonder that $ 1000 or $ thousands of adjustments can be made.

“I see cryptocurrencies as a promising asset, but next year’s minimum modification size will be 10%. At the same time, fall may be at the level. 30% or more.. Therefore, it is worth considering carefully before making a large investment, “the expert warns.

NordFX Analysis Group

Note: These materials are for informational purposes only and are not recommendations or guidelines for investing in working in the financial markets. Trading in financial markets is risky and can result in the complete loss of deposited funds.

Forecast 2021: Is Bitcoin Worth Investing? -Analysis and Forecast-December 27, 2020 Forecast 2021: Is Bitcoin Worth Investing? -Analysis and Forecast-December 27, 2020

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