What is your price forecast for Bitcoin at the end of 2021? Bitcoin prices are currently sky-high, despite the recent bearish trend. The broader cryptocurrency market has experienced huge gains since the beginning of the year. Bitcoin, however, remains the top dog, as its value has increased over the last 52 weeks. This rise has outpaced major financial assets, including Gold. However, nobody can say for sure what the future holds for the crypto market.
In January of 2019, Shervin Pishevar, a well-known venture capitalist and angel investor who has invested in companies like AirBnB, Uber, and Square, predicted that Bitcoin would reach a peak of $100,000 by the end of 2021. In December of that year, he met with MicroStrategy CEO Michael Saylor to discuss Bitcoin price predictions. The company is investing more than $1 billion in the cryptocurrency during 2020.
Liew’s prediction came when bitcoin was below $34,000. In August, he predicted that it would reach $44,000. By September, he predicted $43,000. Those predictions were off by just 3%. Liew’s price prediction was correct, but the price of Bitcoin has risen substantially since then. According to the latest estimates by Bloomberg Intelligence, Bitcoin will reach $135,000 by the end of 2027.
During the first few months of December 2013, Bitcoin’s price began to fall. While it traded at around $100 in early December, it dropped to $760 by the end of the week. By the end of November, it had risen to over $1,075! With new exchanges and miners entering the market, it seems likely that Bitcoin will continue its upward trend. The global adoption of Bitcoin has the potential to replace paper currencies, especially the US dollar.