It’s Coming and Going for Bitcoin – Optimistic Bitcoin (BTC) price predictions were already plentiful during this long period of price stagnation. With what could now be the start of a new bull run , there is no limit to optimism: $ 20,000, $ 100,000 or, why not, 288,000 for a single BTC.
Kraken sees Bitcoin surpass old high soon
In its last report from October 2020, the crypto-exchange Kraken is very confident about the future of Bitcoin prices. The trading platform is therefore convinced that BTC is in a dynamic that will bring it at least to its previous ATH ( all time high ):
„Given that bitcoin has just reached a price spike that had not been seen for 33 months, thus achieving a new high after three years of falling prices (…) a rise to $ 20,000 seems very likely In the coming months. “
Reaching its new high only seems like a step in the evolution of Bitcoin’s prices now, if some bullish pricing models are to be believed. Kraken goes so far as to make a curve projection of up to .. $ 100,000!
Bitcoin to $ 288,000 and beyond?
In a tweet on November 8, BTC price analyst nicknamed PlanB (@ 100trillionUSD) renewed his confidence in his Stock to Flow (or S2F ) price modeling :
“People ask me if I still believe in my role model. To be clear, I have absolutely no doubts about the accuracy of theÀS2F model for Bitcoin, which will hit $ 100,000 to $ 288,000 before December 2021. In fact, I even have new data that confirms the shortage between supply and demand is real. In my opinion, 2021 will be spectacular. This is not financial advice. “
When we see investment funds specializing in institutional investors , like Grayscale , which start buying cryptocurrencies with hundreds of millions of dollars . One can indeed wonder if a breaking point will not quickly appear in the supply of new bitcoins.
As everyone knows the principle of supply and demand, and with bitcoin production that was halved with the halving last May, all the planets seem to be lining up for an upward price panic. Be careful though! You will have to fasten your seat belt, because if already usually „prices never rise in a straight line“, Bitcoin prices are famous for their volatility.