Two widely-followed crypto analysts are revealing very different Bitcoin price predictions for the end of 2021.
Strategist Michaël van de Poppe thinks Bitcoin will be trading in the $40,000-$60,000 range by the end of next year.
While that may seem bullish, it’s conservative compared to some other analysts in the crypto community.
Willy Woo, a former partner at Adaptive Capital, says he believes $200,000 is now a conservative estimate.
“My top model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question. The current market on average paid $7,456 for their coins. You all are geniuses.
I’ve never been so bullish for 2021. This re-accumulation phase coincides with spot market inventory depletion roughly 2x longer and deeper than the last cycle. It will send BTC.
Also the dollar gain in market cap per dollar invested has significantly increased over past cycles, HODLers holding stronger. It was $2.00 in the 2013 bull run, $2.50 in 2017, and $3.50 or more for 2021. All pointing to reflexivity increasing; an amplified 2021 bullish feedback loop.”
Van de Poppe also thinks Bitcoin will eventually hit a similar price range, he just thinks it’ll be in late 2023 or 2024.
The top of this cycle will be way higher than the majority thinks and probably won't be in 2021.
If I'd give an honest bet off the top on $BTC.
Then I'd say $200,000-400,000 somewhere in late 2023-2024.
— Michaël van de Poppe (@CryptoMichNL) December 2, 2020
In the short term, the technical analyst says it’s “very likely” that a slight correction in Bitcoin’s price will occur.
“It’s quite difficult to be making any analysis at this point, as the higher time frames are indicating there is some overextension at this point.
I’ve been discussing this – the area to watch on a weekly timeframe is the $19k [price]. If Bitcoin does not break or close above $19k, I think we’re going to reverse.”
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