Bitcoin Price Prediction End of the Year, These are Experts Say

Posted on

Bitcoin (BTC) price predictions for the end of this year are increasingly coming to the fore after the number one cryptocurrency set a new record high.

Comparison site from Australia published a report predicting the price of Bitcoin (BTC) will reach US $ 80 thousand by the end of 2021 before perched at the US $ 71 thousand.

The prediction is based on a Finder survey of a panel of 50 crypto and fintech industry experts conducted in September and October.

The panel includes founder Fred Schebesta, who predicts the price of BTC will cross $249k in 2025 to $5.2 million in 2030.

Schebesta is a bullish figure and estimates that BTC will reach US$87 thousand by the end of the year due to high interest. According to him, Bitcoin is very hot right now.

“There was a lot of institutional demand, the US government didn’t ban BTC and everyone started coming in. I firmly believe that BTC will continue to increase,” explained Schebesta.

Martin Frohler, CEO of Morpher, a trading platform on the Ethereum blockchain, said now is the time to buy BTC. The reason is, the macroeconomy where central banks print money, driven by strong on-chain fundamentals, institutional adoption, and Bitcoin futures ETFs will support BTC to reach new records in 2021.

However, other panel members differed. University of Canberra lecturer John Hawkins, who once headed the Hong Kong Monetary Authority and was a senior economist at the Reserve Bank of Australia and the Bank of International Settlements, is among those who believe it is time to sell BTC.

“The falling BTC price could be due to declining interest in crypto as central bank digital money becomes the future of electronic money, or it could be because Ethereum is seen as a better asset,” Hawkins said.

The Finder report also explored the panel’s opinion on Bitcoin ETFs. But they were asked about physical Bitcoin ETFs and not Bitcoin futures ETFs approved by the US Securities and Exchange Commission (SEC).

Crypto analyst Jeff Yew, CEO of Monochrome Asset Management, said approval of the Bitcoin futures ETF could mean physical Crypto ETFs will soon be accepted by US regulators.

Most of the panel members agreed with the Bitcoin ETF, while another minority was not convinced. University of Liverpool lecturer Matthew Shillito, a researcher in crypto and financial regulation, thinks Bitcoin ETFs are not positive.

According to Shillito, ETFs offer an easy way for ordinary investors to get involved in the crypto-asset market, but it’s really just a gimmick to make the financial industry profit.

“If an individual believes in crypto, they should develop their own strategy instead of investing in ETFs,” said Shillito.

Leave a Reply

Your email address will not be published. Required fields are marked *