BTC could hit $100,000 this year, according to the latest Bitcoin Predictions Panel from personal finance comparison site .听听
The听global panel of 35 academics and senior crypto industry figures听believe BTC will peak at $107,484 on average in 2021, although nearly a third of panellists (32%) think BTC will reach $120,000 or higher.听
The majority of听panellists (58%) say institutional investors are driving the price rally, compared to 24% who say it鈥檚 retail-driven and 18% by whales 鈥� or investors that hold a large amount听of Bitcoin.听听
Lecturer and Assistant Professor at the University College Dublin,听Dr.听Paul J. Ennis,听thinks BTC will hit听$100,000, but won鈥檛 go beyond that.听听
鈥淚nstitutional investment will continue to drive the price up, but $100,000 is a psychological barrier that even institutions will find too high,鈥� he says.听听
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Cryptocurrency Strategist at LMAX Group Joel Kruger thinks BTC will inch a little higher this year to $70,000,听but ultimately remain below the $100,000 threshold.听听
鈥淭he market has more than tripled in value since the start of the year and is very extended technically, all at a time when global markets are at risk, which we believe will also have a short-term negative impact on bitcoin. This should limit upside for the remainder of the year,鈥� he said.听
Half the panel (51%) thinks BTC is still undervalued, while roughly a quarter (24%) say it鈥檚听overvalued听and the same percentage (24%) say it鈥檚听fairly priced.听听
However, the panel also believes the BTC bull run is likely to come to an end in the second half of the year, with 30% of panellists expecting it to last until the third quarter of 2021 (July-September) and 36% the last quarter (October-December).听听听
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Delta.app听CEO Nicholas Van听Hoorde听thinks BTC will peak at just over $60k this year and says a market correction could听actually be听a good thing in the long run.听听
鈥淎 correction would be healthy for sustained levels of growth and setting up for another bull run, again exceeding the previous one and after a shorter time interval of flat levels,鈥� he says.听听听
eToro听market analyst Simon Peters is expecting a short–to–medium–term price decline,听and听thinks there will be another bull run in 2025.听听
鈥淎t some point following the ultimate top of this bull market we will see a retracement, as to how deep that will be, remains to be seen. 2024 will see another halving in the block reward which historically has been the start of the next bull market.听So听2025 we听could be poised to see the next bitcoin bull market.鈥澨�听
On average the panel expects BTC to end the year just shy of $100K, at $94,967 although by 2025, they expect BTC to reach $360,179.听
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A handful of panellists, including Origin Protocol co-founder Josh Fraser, expect BTC to hit $1 million by the end of 2025.听鈥淚t’s a simple matter of supply and demand.听Demand will only continue to increase while supply diminishes,鈥� he says.听听
Founder and CEO YAP Global Samantha Yap thinks BTC will hit $500,000 by the end of 2025 but says a $1 million valuation isn鈥檛 out of the question.听听
鈥淏itcoin maximalists claim that BTC will reach $1听million听in price. It used to be outrageous to claim that Bitcoin would reach $100k a year ago. But with what we’ve seen this year, it’s not impossible to think that it could reach $1m.鈥�听
Cryptocurrency