Sunday, June 16, 2019

Cryptocurrency Analyst Predicts Bitcoin Could Reach $30,000 by 2021

While the price volatility keeps cryptocurrency investors’ hands on deck, predictions from analysts also keep everyone on their feet. Several experts in the industry have made predictions about Bitcoin’s future, and as such, our fingers are crossed to see which will sail. One more is from the trader, AngeloBTC who said Bitcoin has the possibility of hitting $30,000 by 2021.

Predictions Made from Cryptocurrencies’ Performance and Trend

Based on the performance and historical trends, predictions are made. The latest is from AngeloBTC, a veteran trader with 126,000 Twitter followers who stated that Bitcoin has the potential of reaching $30,000 in the next two years. The latter means that the virtual asset which is currently trading around $3,913 will have to grow by 666 percent to attain that price.

On the other hand, the percentage increment is not entirely impossible given that the market which opened around $963 in January 2017, hit $20,000 in December of the same year. The latter is over a 1900 percent increment in value. Therefore, Bitcoin will have to grow 50 percent from its price in December 2017 to hit $30,000.

Bitcoin Trader Comments on the Performance of Cryptocurrencies

AngeloBTC also made comments on the performance of cryptocurrencies as a whole. In his opinion, the virtual currencies’ market capitalization is quite small and comparable to a drop in the bucket. He adds that even if it was valued at $1 Trillion, it wouldn’t still be enough to make these assets a store of value.

AngeloBTC also said:

The end goal for Bitcoinas an investment is a binary outcome. It goes to 0 or you 10x your investment. There is no in-between.

Reportedly, the veteran trader amassed thousands worth of Bitcoins during 2017’s bull run. However, his Twitter page had only a few tweets as at 2018 which could be attributed to the downward trend of Bitcoin and altcoins.

Other Cryptocurrency Enthusiasts are Bullish About Bitcoin’s Price

Asides from AngeloBTC, several other enthusiasts, have made predictions regarding Bitcoin’s price shortly. While some are extremely bullish like the case of John McAfee who is confident that Bitcoin will hit $1 million by the end of 2021. Another professional cryptocurrency trader, TraderScarface has forecasted $102,000 as the next all-time high of Bitcoin.

It is also worthy to note that more focus has been given to Bitcoin because its hike and spike can significantly influence others. However, Binance coin (BNB) also seems to stand out of late given that the virtual asset has moved from its $6 price as at January 1, and is currently trading around $14.

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