As bitcoin reached new price points on Thursday approaching the $ 50k handle, people were curious about where the price would go in the future. Meanwhile, despite the gains so far, a number of crypto-analysts, analysts, executives and proponents believe that the leading crypto-asset will reach between $ 60,000 and six figures this year.
Mike Novogratz predicts $ 100,000 Bitcoin: ‘Other CFOs and CEOs say: what should we do?’
The invention of Satoshi Nakamoto has recently gained great appeal as the leading digital asset bitcoin (BTC) reached its highest value ever in 2021. . Early in the morning around 2am, bitcoin traded hands for $ 44,485 and has seen an increase of 8.98% since then. At the time of publication, at 18:30 (EST) on February 11, 2021, bitcoin (BTC) is exchanging for $ 47,821 per coin.
With BTC so close to the $ 50,000 forecast, people are predicting new price forecasts for 2021. Some individuals think the bull run is not over, and crypto fans can expect to see much higher prices from here. Although skeptics think that the leading crypto-asset is completely worthless and the biggest bubble the world has seen in centuries.
Galaxy Digital founder Mike Novogratz recently sat down for an interview with Bloomberg after Tesla revealed that it had bought $ 1.5 billion in BTC.
‘You have the biggest, richest man in the world and one of the greatest stories it does. You have to think that other CFOs and CEOs say: what should we do? Novogratz said. Bitcoin bull Novogratz expects many more companies to follow Tesla’s cap tail and thinks BTC could reach $ 100,000 this year.
In an investor note last week, the quantitative trading firm QCP Capital discusses financial manager Bridgewater Associates and says Ray Dalio’s firm explained that “if 50% of the gold capital were transferred to BTC, it would bring in a price of $ 85,000 per 1 BTC.” In late January, Dalio told the public that Bridgewater Associates colleagues “focus intensively on alternative stocks of wealth assets.”
A myriad of predictions of bitcoin prices between zero and $ 600,000
On February 11, the crypto-analyst of the multi-asset investment platform EtoroSimon Peters, explained in a note to investors that BTC could earn $ 70,000 by the end of the year.
‘The crypto-asset world is bursting at a staggering pace in the realm of traditional finance. The largest payment provider Mastercard has announced that it will support digital assets directly via its own network, which indicates another important milestone for the industry, ”Peters wrote.
The Etoro analyst added:
Bitcoin and its peers will simply be part of the financial financial universe sooner rather than later. I expect demand to rise and see bitcoin prices reach at least $ 70,000 by the end of this year.
As BTC approaches the head of Luno of Asia-Pacific near the $ 50,000 handle, Vijay Ayyar said he believes the price will exceed this psychological price range. Ayyar stresses that bitcoin “is slowly disappearing from gold’s market capitalization.”
But despite Luno’s Vijay Ayyar and others believing that bitcoin will eat away at the gold market’s gold capitalization Peter Schiff definitely disagree.
“Big Wall Street investment banks like the Fed,” Schiff said tweeted. ‘They like the fiat monetary system, and they like government regulations that hinder free markets and oppress their smaller competitors. Now they also love Bitcoin. Is bitcoin the latest Wall Street BFF a problem for anyone? Schiff asked his 355,000 Twitter followers.
When someone responds and says that BTC is a competitor for gold, Schiff again disagrees.
The golden bug answer:
Not really, but maybe Wall Street banks think it is. Since they hate gold, it might make sense for them to like bitcoin. The enemy of your enemy is your friend.
Other skeptics wholeheartedly agree with Schiff’s opinion, as Inside View and Wall Street Journal contributor Andy Kessler thinks BTC is worthless. In Kessler’s judgmental article, entitled ‘Behind the Bitcoin Bubble: Manipulative actor has been known to take advantage of the madness of crowds.’
In the article, Kessler states:
Bitcoin is nothing, it’s vapor, an idea of an idea. Transactions with bitcoin are few. This is not a value proposition – anything that drops by 30% within a week cannot play that role.
Just a premonition, but I think # Bitcoin blows through the first attempt $ 50k.
– Vinny Lingham (@VinnyLingham) 11 February 2021
Although bitcoin (BTC) has skeptics and critics, it seems that there are many individuals and organizations that are much more optimistic. Last week, Guggenheim Partners chief investment officer Scott Minerd raised his rating on the leading crypto-asset. “We did a lot of fundamental research,” Minerd explained.
‘If you take into account the supply of bitcoin compared to the supply of gold in the world and what is the total value of gold, if bitcoin were to go to that kind of numbers, we would go from $ 400,000 to $ 600,000 per bitcoin talk. “Now I’m not saying we’ll end up there, but it’s an indication of what could be a fair value, ‘Guggenheim’s Minerd added.
However, no one’s prediction has been laid in stone and only time will tell which will come to fruition up to the future price of BTC.
What do you think of all the bitcoin forecasts for 2021? Let us know what you think of this topic in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, lookintobitcoin.com/charts,
Disclaimer: This article is for information only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or approval of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly responsible for any damage or loss caused or claimed to have been caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.