2021 has been an exceptional year for Bitcoin, with the cryptocurrency striking a new all-time high of $67,016 in October. The largest crypto in the world has been through many lows and highs, but analysts believe that the ‘digital gold’ is set to hit $100,000 before December 31.
CEO of BalletCrypto and Bitcoin Foundation board member, Bobby Lee, believes that BTC can hit 100k before the end of 2021. Lee tweeted that he thinks Bitcoin may pass the 100k mark even before December 31.
Bitcoin Price Predictions: $100k Possiblity
Before this tweet, Lee had shared a poll on October 12. On his poll, he asked his followers whether they thought BTC could go past $100,000. A good number of his followers, 59%, believed that the top crypto could hit the six-figure by November 30 or December 31. However, nearly 30% of the poll participants voted for the digital coin hitting $100,000 in 2022.
Another analyst, Plan B, predicts that the ‘digital gold’ will surpass the 100k mark by year-end. The renowned crypto analyst bases his predictions on his Bitcoin stock-to-flow (S2F) model. The analyst believes that the ongoing bull run could carry BTC’s price for six more months.
Additionally, Plan B shared on his Twitter on November 2 that his S2F model predictions have all moved ‘like clockwork.’
These analysts are not the only ones that believe that Bitcoin could soon be worth $100K . In September, British bank Standard Chartered analysts also predicted that BTC could soon hit the 100k level. At the time of the team’s predictions, BTC was worth $52,000.
The Standard Chartered research team also believed that even as Bitcoin’s price soared, it would also affect that of Ethereum. At the time of these predictions, Ether was worth $3,500. The research team also predicted Ethereum’s value moving up to $35,000, which was ten times what it traded for at the time.
Crypto analysts at Finder, a research platform, also believe BTC will reach $100,000.The Finder analysts predict the top digital coin will hit its highest ever all-time high of $107,484 before the end of 2021. This high would come before the crypto caps off at $94,967.
At the time of writing, BTC is trading at $61,105.97, while Ethereum is trading at $4,479.17.
More on Bitcoin
Bitcoin continues scaling new heights with more and more institutions and countries adopting it. The most recent milestone for the cryptocurrency is the introduction of BTC in Australia’s Commonwealth Bank.
Australia’s 6.5 million Commonwealth Bank users will soon hold and trade several digital assets such as BTC, ETH, and Litecoin. The bank also plans on making available these crypto services to their mobile app. In light of this bank’s Bitcoin adoption strategy, Michael Saylor took to Twitter to share his thoughts. He tweeted,
“Soon every bank will need to support #Bitcoin to remain competitive.”
Brazil is yet another country that is part of the ongoing Bitcoin bull run. Brazil has been making headlines for its affiliation to Bitcoin. The South American country currently has a draft bill that will allow Brazilian workers to get paid in BTC.
The bill, which is yet to be discussed and voted on, was presented to Brazil’s Deputies Chamber on November 5. Brazil also recently sought to legalize cryptocurrency and BTC, a move that was misunderstood for trying to make BTC its legal tender.
Factoring all of these analysts’ predictions and continued investors’ support, Bitcoin could sure be on its way to achieving and even surpassing the $100K mark.