Prominent crypto analysts and finance veterans are making their Bitcoin price predictions for the new year.
Analysts are all over the place when it comes to their 2021 BTC bets. Some believe the asset is on pace to reach the six-figure mark, while critics say Bitcoin doesn’t stand a chance against regulatory hurdles.Citibank analyst Tom Fitzpatrick recently said Bitcoin could soar up to $318,000 by December of next year, representing a low to high rally of 102x, which would make this boom cycle the weakest in terms of percentage growth in Bitcoin’s history.
Following a year of economic uncertainty and unprecedented fiscal policy, Fitzpatrick says investors will continue seeking refuge in Bitcoin to protect their wealth.
Bloomberg analyst Mike McGlone has high targets for Bitcoin as well. With growing institutional support, McGlone says Bitcoin is poised to continue its rally through 2021, cracking the $1 trillion market cap, and potentially seeing price resistance at $50,000.
Blockfyre co-founder and Moonrock Capital managing partner Simon Dedic has also shared his 2021 Bitcoin predictions.
According to Dedic, the last three years have been good to cryptocurrency, but he doubts the monster altcoin rally in 2017 will happen again. That said, Dedic still predicts Bitcoin will hit $150,000.
“In 2017, you could have bought literally any alt and it was a good investment. [In my opinion], this won’t happen again. However, I still believe that the bull run will return, pumping the few solid alts out there.
Creator of the BTC stock-to-flow valuation model and pseudonymous analyst PlanB is also betting on a six-figure Bitcoin in 2021. The high-profile analyst estimates BTC can trade as high as $300,000 before 2021 expires.On the flips side, the economist who predicted the 2008 economic crash, Nouriel “The Doom” Roubini maintains the leading digital asset will crumble in the wake of future regulation.
In a reply to crypto lawyer Jake Chervinsky, who claimed it was unlikely the government could clamp down on crypto, Roubini tweeted that he has no doubt the incoming Biden administration will create a bearish environment for crypto assets.
“You are delusional. Biden’s team, starting with Yellen who was my boss at CEA, will crack down on this criminal tax evading & AML-KYC-TFC-evading crypto/shitcoins cesspool much more than Mnuchin. Get a life as you have become a crypto hired gun cheerleader/enabler.”