There has been a sharp resemblance between internet evolution in the 20th century to the Bitcoin emergence in the 21st century. Just like internet services, Cryptocurrencies and especially, Bitcoin has become more omnipresent. New crypto services are created, digital platforms and retail shops start using them to pay for their transactions.
It appears to be only a matter of time until it becomes an essential mode of payment in the mainstream. Howbeit, the network is already giving tough competition to Visa, Mastercard, Paypal and many other
Bitcoin has been a matter of interest to many, because of the currency’s high liquidity and it is promising for both short and long-term investments. Operating on a private, decentralized blockchain, security has never been a topic of the question, anytime!
To make your cryptocurrency quest susceptible and for the bitcoin holders out there, you will be doubt-free and perhaps on the verge of making a quick choice by the end of this article. Hold on and read further to uncover its fundamentals, upgrades, and Bitcoin price prediction for the short-term and long-term.
As the digital asset grew stronger, many still speculate the asset may surge towards $100k very soon! But with the current market trends, doubts and queries are appearing. Hold on and read further to uncover Bitcoin Price Prediction for 2021? Let’s see Will BTC Price Hit $100k?
|Market cap||$ 794,656,600,308.0000|
|Circulating Supply||$ 0.0000|
|Trading Volume||$ 0.0000|
|All time high||$ 69,045.0000 November 10, 2021|
|All time low||$ 67.8100 July 6, 2013|
What is Bitcoin ?
Bitcoin is a virtual currency similar to that of traditional currency but differs as a decentralized cryptocurrency using peer-to-peer technology for instant payments. Unlike the traditional financial system, Bitcoin is not owned by any government or any company, or any individual. The price of Bitcoin completely depends on demand and supply.
Bitcoin works on a completely decentralized system using the open-source protocol. Mining can be one good option to get hold of some Bitcoins.
Introduced in the year 2008 by an anonymous person or a group of persons known as Satoshi Nakamoto, bitcoin has taken the world by a surprise. It would appear that bitcoin would have to fight its way straight into the heart of classical finance. Its place in its single-handedly built crypto ecosystem is however undeniable.
He published Bitcoin’s whitepaper on October 31st, 2021. The whitepaper included how a P2P, digital currency could be implemented. The team also proposed to utilize a decentralized ledger of transactions lined up in batches. After a gap of two months, on January 3, 2009, Satoshi Nakomoto initiated mining for the first time on the Bitcoin network.
Together with core founder Satoshi Nakamoto, over the years a huge number of developers and other institutional people contributed to enhancing the crypto software by correcting vulnerabilities and introducing new features.
Bitcoin’s source code repository on GitHub lists over 750+ contributors including Wladimir J. van der Laan, Marco Falke, Pieter Wuille, Gavin Andresen, Jonas Schnelli, and others.
Bitcoin’s lightning network acts as a network’s second layer added to Bitcoin’s network layer allowing transactions between two parties of the blockchain. This network is considered a revolutionary concept in the Crypto space. It is basically designed to allow quick transactions and reduce the associated costs of BTC’s blockchain. The lightning network was developed by Thaddeus Dryja and Joseph Poon. Moreover, the much-awaited Bitcoin taproot upgrade is scheduled for November 2021, the upgrade will further scale up the network capability.
BTC Price Prediction 2021
The year 2021 initiated with a good note with the price surpassing $30,000. Within just a month, the price achieved the milestone by crossing $50,000 and trended within the same range till the end of February 2021. Maintaining the bullish trend, the price of Bitcoin smashed a new All-Time High at $64,863 on April 14, 2021.
In May Elon Musk came up with the tweet saying Tesla would no longer accept bitcoin due to environmental concerns. In addition to this China has prohibited payment firms and financial institutions from enabling services with respect to cryptocurrencies. Owing to these FUDs, Bitcoin’s price has plummeted by more than 50% from $64k to $29.8k.
As Bitcoin became legal tender in El-Salvador on 7th September, the BTC price further climbed to $53k. As some of the influencers used this opportunity to gain profits the price plunged to $43,780 on the same day. As a result of which huge liquidations took place on major exchanges. ByBit exchange faced the highest liquidations of $1.27 billion. And the single largest liquidation occurred on Huobi-BTC of $43.7 million.
Despite record-breaking liquidations, recovering from Chinese FUD the asset almost doubled in its price. The flagship asset gained incredible 12.89% profits in the past week recording a milestone of $66,930 on October 21st. After a healthy consolidation of around $62k for more than 15 days, the Bitcoin price has taken yet another move to a new ATH of $69.045k on 11th November.
December has turned out to be bearish for the primary coin, where the asset has made a choppy downward move. However, the decision of interest rate hikes by the US Fed on December 15th had not impacted the price action. Instead, traders are recognizing Bitcoin as a hedge against potential inflation ahead.
BTC Price Prediction 2022
Bitcoin Price Forecast Q1:
Bearish Case: If the current bearish rule continues to predominate the market, then BTC price would further delay its rally. In the case of extended correction, the price would continue its choppy move until January end. Potential bottom support lies between $37k to $40k, if it were able to flip those bottoms, then the price would easily bounce up to $57k by the end of Q1 2022.
Bullish Case: If BTC’s price flips bearish dominance in the next couple of weeks, then it is anticipated to commence 2022 above the $50k price range. If the historical bull runs like 2021 repeats in 2022 Q1, the flagship asset would clinch a maximum of $85k. The average bullish possibility would be around $70k.
The rest of the year would be more choppy for Bitcoin price action. With certain fluctuations, the asset would clinch a maximum price beyond $100k by the end of 2022. The average and minimum possibilities are $88k and $71k.
Bitcoin Price Prediction 2025
If Bitcoin works on diversification and increases liquidity, it can attract more possible investors. Also, many may start trading Bitcoin due to FOMO. If this happens, Bitcoin will gain a huge amount of traders and the price might skyrocket to $2,25,086 by the end of the next five years.
But if it falls prey to any criticisms due to mining that causes harm to the environment, the price might become highly volatile. Also, if there is any regulation laid in the future, it can lose many investors due to uncertainty. If this happens the price might plunge to $1,24,763.
However, if it manages to find a way from the controversies raised, then with the persisting traders, the price may move at $1,63,114.
Bitcoin Market Prediction
According to WalletInvestor’s algorithm-based forecast, the most valued asset could hit a maximum of $92,452 and the minimum would flip to $78,937. With average buy and sell pressures the coin could end up trading at $85,652. Bitcoin can be a profitable investment for the long term. The coin would rise from a minimum of $164,209 and could continue the rally to hit a maximum of $201.250k by 2025.
According to DigitalCoinPrice, Bitcoin’s price will meet an uptrend. Bitcoin could trade at an average price of $74,142 by the end of 2021 and would exchange at $145.311k by 2025.
According to TradingBeasts, the coin could drift to a maximum of $70.56k by 2022. The digital coin can trade at an average of $56.711k. However, by the end of 2024, the price may head towards a maximum of $65.827k and it would flip to a minimum of $44.762k, and potential average price trades within $52.661k.
According to Gov. capital, Bitcoin can hit the best possible price of $90,180 and the potential minimum price would be $66.654k. With average buy and sell pressures the primary coin would hit $78.417k by the end of 2022. The asset hopes to be best suited for the long-term, by the end of the next five years, BTC price would reach a maximum of $222.958k and the minimum prediction stands around $164.795k by the end of 2025.
Our BTC Price Prediction
Bitcoin initiated the year 2021, with a trading price of $31.474.76 by early January and hit an ATH above $64K. With a bullish movement, the price efficiently started to rise. BTC’s price would likely pump and may reach newer heights by enhancing its blockchain as well as the transaction speed. But currently, there is a pull-down in the price and the price trends in the future may vary from what it was believed to be.
If the network works on black market activity and protects itself from cyberattacks, then the security will be enhanced. In that case, the BTC price may hit highs beyond $90k. On the contrary, if the market crashes anytime soon, or the Proof of work system is debated, then the price can plunge as it did previously and drop below $50k.
|Year.||Potential High.||Potential Low.|
|Next 5 Years||$224.25k||$92,512|
Historic Price Sentiments
The idea of introducing Bitcoin was implemented in 2008 by a pseudonymous person called Satoshi Nakamoto. Bitcoin was launched on January 3, 2009, when a block named genesis got mined. Later the transaction took place after a week.
In 2010 BTC was officially launched on the exchange Bitcoinmarket.com at a price of $0.003. Significantly, the coin rose to $0.08 as the cryptocurrency was mentioned in the popular news resource Slashdot. To increase the stability of Bitcoin, another exchange called Mt.Gox was launched further in July.
With certain variations, BTC managed to be in the range of $0.06 and $0.07 until October. Later, Bitcoin progressively hiked as it was trading at $0.35 on bitcoinmarket.com and $0.5 on Mt.Gox. and touched the $1 million mark by market capitalization.
In early 2011, Bitcoin was traded around the $0.2 and $0.3 mark with a price deviation. Later the price started to hike. Dramatically, BTC spiked to $1 by mid-February as the coin grabbed the attention of the marketers by getting mentioned in the Hacker News and Twitter while the launch of Darknet site Silkroad where Bitcoin was considered as the main payment system.
The price drastically surged to $32 by early June and further fell to $10. Surprisingly, BTC again gained its resistance level later. Shockingly, the prices of BTC crashed as Mt.Gox was hacked and a lack of files were stolen by the hackers. With certain variations, the price sank to $6 in the first week of August. The coin quickly recovered to reach $12 and further sank to 2.5 by the end of November.
With certain variations, BTC managed to trade around $5.27 and $12.57 throughout the year 2012.
The altcoin was trading around $20 during February. Exponentially, the price rose to $220 in April as the financial crisis that took place in Cyprus collapsed in the same month to $76 because of the huge demand for the currency and recovered to $160. Later, in May, the coin fell to $101.97. The price continued to be stable with some variations for several months. Interestingly, the coin hit $1,124.71 by the end of November as the market rushed to invest in BTC. By the end of December 2013, BTC was trading at $755.16.
BTC entered 2014 with a price of around $818.76. The coin started to fluctuate further. Bitcoin traded between $321.05 and $839.01 throughout 2014.
BTC was trading at $306.73 during the start of January. BTC has experienced various fluctuations in the year 2015 as many exchanges suffered major hacks and came under stronger regulations. The coin hovered between $229.75 and $416.82 for the rest of the year.
With a price of $433.67, Bitcoin started the 2016’s trade. Later, the price continued to vary. BTC hit $753.35 by mid-June as the community announced the news about its second halving event. Further, the price started to drop and rose to $693.47 in July as part of the halving. The coin again continued to fluctuate after. On a bullish note, altcoin reached the $951.01 mark by the end of December 2016.
BTC continued to be in a bullish run during the start of January by trading at $998.34. The price consistently started to grow as it turned into the most needed currency around the world. The altcoin hovered between $973.07 and $1,267.76 in the month of March and started to rise further. Dramatically, the price soared to $2,164.46 by the end of May and $2,968.00 by Mid June.
Progressively, the price surged to $3,223.95 by early August as the community released its new hard fork Bitcoin Cash (BCH). With certain price shifts, the coin continued further to be in a bullish run. Extremely, the price soared to $18,474.11 to record its All-Time-High on 18th December because of the announcement made by major US exchanges regarding the launch of BTC futures. Further, the price declined to $14,839.59 at the end of December 2017.
On a bearish note, Bitcoin commenced the year 2018 with a price of $13,877.46 by early January. Shockingly, the Korean authorities planned to ban Bitcoin and this led to the massive price crash and the coin moved to $8,270.10 by mid-February. With certain fluctuations, BTC managed to be in the range between $4,014.86 and $11,454.06 throughout the year till the end of November. Dreadfully, altcoin slumped to $3,268.11 by mid-December. With a price of $3,851.48, BTC managed to end the year 2018.
As the bears held the market for a longer time, Bitcoin continued to trade at $3,692.53 during the start of January. Later, the price started to recover and managed to remain stable till the end of the first quarter. The price started an upward trajectory and reached the $5,300 mark at the start of the second quarter in April. Effectively, the price pumped to $10,692.94 by the end of the second quarter in June. Further, the price touched the $11,300 mark by August and failed to remain stable after. Later the price plunged to $7,379.96 in December to end the year 2019.
Bitcoin was trading around $7,526.04 by early January. Dramatically, the price poured to $10,086.52 by mid-February and failed to remain stable for a long time, as it surprisingly dropped to $5,348.09 by mid-March. Later, the price started to recover as the community announced its third halving event and the coin progressively poured to $8,900 by the end of May and reached the $10,100 mark by early June.
Later, the price started to grow effectively by hitting $12,283.75 by mid-August and with certain variations, BTC continued to expand. Interestingly, the price did not decline and rose further to hit $18,323.18 by the end of November. Surprisingly, the altcoin was trading at $21,352.13 by mid-December and on a bullish note closed the year 2020 with a price of $29,388.94.
With the Bullish Q4, the Crypto Community expects BTC Price to Hit $100k By 2021 end.
Yes !! With institutions adding Bitcoin to their balance sheets and El Salvador officially making Bitcoin legal tender, it’s looking like Bitcoin will be the future of currency.
According to a Popular strategist, BTC price might undergo several corrections but not plunge heavily. The Crypto community is quite optimistic that BTC prices will hit new heights in 2021.
With Increasing Adoption we can see a BTC price rally. Market experts are confident that it could touch the $100,000 region in the coming months.