From $318K to $0: Bitcoin Price Forecast For 2021
By Kevin S. - Bitcoin Enthusiast- 11/03/2021
What's the Bitcoin price going to be in one year? Ten years?
The Stock-to-Flow (S2F) model developed by PlanB is among the most well-known price prediction devices in Bitcoin (BTC) space. It predicts Bitcoin's long-term price pattern by balancing two key factors: the amount of Bitcoin investments in existence (the stock) versus the amount of freshly mined coins entering the market (the flow).
So far, the model has been incredibly accurate. Bitcoin ended February 26% over the model's expected price and stays on track to meet the model's end-of-year target of $288K.
Reportedly, Bitcoin trading being at the $56K mark, it will need to rise by more than 400% between now and December.
Anthony Pompliano of Morgan Creek Digital and Dan Morehead of Pantera Capital have not set their eyes on $200K for 2021, but it doesn't mean they're bearish. They both agree that Bitcoin would close the year over $100K, which will double the current price.
In a latest interview, Pompliano stated that “if all of a sudden only about 8 million Bitcoin is available and all this demand is showing up, you are going to have a pretty aggressive price increase”.
Wherever there are bulls, there are bears, too. Peter Schiff is one of the most vocal detractors of Bitcoin in crypto space. He assumes that Bitcoin is a pumped-up bubble that will ultimately take most people to financial ruin. It's just a question of time, as per him, before it all boils down to nothing.
In a conversation, Schiff said, "Eventually, the supply of fools will run out and the biggest fool ends up being the bag holder”
Who would have known the day would arrive when $100K, or even $200K, Bitcoin buying price forecasts are known to be moderate? Ok, the day could finally be today. Unverified rumours suggest that Citibank has set its sights on even higher price targets for 2021.
And that's just in the near term. As the price to buy Bitcoin increases, so do long-term predictions. Frank Holmes of US Global Investors and Scott Minerd of Guggenheim Investments all agree that half a million dollars will be available in the coming years.
If you are looking to buy and sell Bitcoin, head over to BC Bitcoin and register an account to start investing in cryptocurrency today.