Bitcoin’s assets are a trillion dollars now. The globe’s first cryptocurrency continues to rule the financial market as a tenable asset. Its concept of decentralization makes it more worthy and strong. It also attracts many investors as the future is predictable. Here we will find out Bitcoin price prediction for 2021 and beyond.
For a short period during March 2020, Bitcoins traded below $5000. But within less than a year BTC changed its scenario in the financial market and traded over $ 50,000 forecasting its high potential to thrive in the crypto market. This reform was initiated by many institutional investors like Ruffer Investment, Paul Tudor Jones, Tesla, and many more adding Bitcoin as a part of their existing portfolio. Though it is understood by now that financial investors are taking Bitcoin seriously, still many factors work in not investing in Bitcoins. Taking this financial investment further can mean there is a lot more left to be done to complete this reform.
How Bitcoin Halving Changed The Pricing Of Bitcoin?
2020 witnessed the halving of Bitcoin which impacted the pricing of Bitcoin to a great extent. It has been proven that the sentiments of the market change towards Bitcoin after every Bitcoin halving because of the price and rewards it provides to its users. Now let us just delve into the history of Bitcoin halving a bit.
2012 Bitcoin Halving
On 2012, 28th November the first halving took place. This halving was of the mining rewards, that cut every 50 BTC blocks to 25 BTC blocks. Though the market was a bit slow then to react to the changes, soon after a year the value which started around $10, hit the new “all-time high (ATH)” of $1,000 creating a massive 1000% increase. This marked the first bull run in the history of digital currency.
2016 Bitcoin Halving
On 2016, July 9 the second halving of Bitcoin took place. This was the time when the Bitcoin miners started receiving 12.5 BTC blocks instead of 25 BTC blocks. As usual, the market reacted slow. A year and a few months later the value rose to $19,843. This was a bigger success compared to the halving of 2012.
2020 Bitcoin Halving
In 2020, on 11th May the third Bitcoin halving takes place. Here it was reduced to 6.25 BTC blocks from 12.50 BTC blocks. After that halving in March 2021, we are in the middle of that bull cycle that is going on. There are various predictions on what this may result in? How big success will this be?
Now let us see the Bitcoin price prediction made on the third BTC halving.
Bitcoin Price Prediction
There has been varied Bitcoin price prediction all over the world. Let us have some glimpses of that.
Guggenheim CIO Scott Minerd – Bitcoin Should Be Worth $400,000
Scott Minerd is designated to be the chief investment officer at Guggenheim Partners. It is an investment company that takes care of $250 billion in assets. When bitcoin was trading at $20,000 in December 2020, Minerd asserted that Bitcoin should be worth around $4000,000. He claimed this based on the scarcity of cryptocurrency in the crypto world and its size compared to other assets like gold. He supported his statement by adding that the Federal bank is printing huge money that is making BTC a good option for investment.
Gold Bullion International Co-founder Dan Tapiero – Bitcoin Can Reach Between $3000,000 to $5000,000
Dan Tapiero, who is the co-founder of Gold Bullion in an interview with a digital currency advocate, said that he believed Bitcoin has the effectiveness to reach a worth of $3000,000 to $5000,000. This range of his is based on the fact that $15 trillion capital flowed in the Bitcoin market. He also asserted that Bitcoin has a shield against fiat currency thus making it act exactly like gold.
Off The Chain Capital CEO Brian Estes – Bitcoin At $100,000 Is A True Scenario
When Bitcoin was trading below $20,000 in November 2020, Off the Chain Capital CEO Brian Estes presumed that within a year Bitcoin will be hitting 100,000. He predicted that by the end of 2021, Bitcoin is expected to trade between $1000,000 to $288,000 based on a model known as “stock-to-flow” that forecasts the price of Bitcoin.
Anthony Pompliano – Bitcoin Will Hit $1000,000 By The End Of 2021
Antony Pompliano is a well-known individual in the Bitcoin community. He hosts podcasts, where he brings eminent figures from the world of digital currency to discuss the same. In November 2020, he predicted that Bitcoin will hit a worth of 1000,000 by the end of 2021.
Tim Draper – Bitcoin Will Reach $250,000
Tim Draper is a U.S based investor who is known for his wide knowledge of Bitcoins. He has invested in companies like Tesla and Skype and has asserted that by the end of 2022 Bitcoin will carry a worth of 4250,000. His prediction was based on Bitcoin’s halving where the rewards that the miners received dropped by 50% every 4 years.
BitBoy – Bitcoin Price Predicted To Be $306,000 By End Of 2021
BitBoy is a famous Youtuber. His YouTube channel deals with the crypto world. His videos cover the whole crypto market. So he has sound knowledge about the same. He predicted by the end of 2021, Bitcoin will hit a worth of $306,000.
JP Morgan – Bitcoin Price Prediction Long Term: $149,000
Though JP Morgan has not set any particular date for their predictions. However, they acclaimed that Bitcoin can reach a worth of $149,000 when compared with gold. A Bitcoin of $149,000 is the total market value of gold.
The crypto world is a completely different world that has started to open new avenues for investors. The market value it is providing is more than expected. So more people are starting to invest in the same. Many financial investors have done Bitcoin price prediction and its chance to change the financial market.
- What Are The Important Benefits Of Bitcoin As Payment Method? - 11/10/2021
- What Are The 5 Best Stablecoins To Invest Now? - 10/10/2021
- Polkadot Review: Expert Opinion On This Crypto For 2021 - 27/09/2021