Bitcoin Price Forecasts

Bitcoin Price Forecasts


Once again, the BTC is flirting with the price level of $ 60,000, forcing traders and investors to wonder with bated breath where the price of the king of cryptocurrencies will go next.

Consolidation of the BTC before the big leap

Cryptocurrency pioneer Bitcoin is flirting with the $ 60K price level again this week, and investors around the world are asking the same old question: where will BTC / USD go next? Price benchmarks range from conservative to almost ludicrous, but it’s worth remembering that current prices around $ 59,500 once seemed absurd, too.

While this crypto asset had previously surged to $ 61,000 in mid-March, it traded to just $ 52,000 on March 25, and then rose again and is trading at about $ 59,700 today. Bitcoin prices briefly topped $ 60,000 in trading last night, then declined before the market opened.

Source: CoinMarketRate

Source: CoinMarketRate

Such price swings can scare potential investors away from this coin, until you remember that BTC / USD lost $ 12,000 in one week in February before recouping that loss and more.

Institutions in anticipation of big dividends

While it’s probably safe to assume that most Bitcoin investors aren’t afraid of a little volatility in exchange for upside potential, the reduced volatility in BTC/USD is one of the reasons why JP Morgan analysts view the cryptocurrency’s increased institutional recognition as a low-correlation asset.

A potential Bitcoin exchange-traded fund (ETF) catalyst looms on the horizon, and with it the potential for a huge influx of retail traders buying the Cue Ball through investment vehicles.

Let’s take a look at some Bitcoin price forecasts:

First, J. P. Morgan has set an undated long-term price target for BTC at $ 130,000. This goal is based on the assumption that Bitcoin will see its volatility continue to converge with that of gold. This target price was revised downwards from the previous target of $ 146,000 to match the decline in the price per troy ounce of gold.

BTIG recently initiated MicroStrategy coverage with a “buy” rating, and set the Bitcoin price forecast at $ 95,000 by the end of 2022. Like JP Morgan, BTIG analysts see Bitcoin as an analog to gold, and consider MSTR shares a good way for investors to gain access to the crypto market.

Using the stock-to-flow ratio model, Pantera Capital predicts that BTC will grow to $ 115,000 by the end of the summer of 2021.

Danny Scott, CEO of crypto exchange CoinCorner, recently predicted that Bitcoin will rise to $ 83,000 by the end of April, citing the law of averages and the historical growth of BTC/USD, compared to the same month in previous years.

Analyst Peter Brandt, who previously predicted a BTC correction in 2018, told CoinDesk TV that Bitcoin will rise to a range of $ 180,000 to $ 200,000 by the third or fourth quarter of 2021. Brandt further described investing in the Cue Ball as a “binary bet”.

Finally, the Wave Financial report has a Bitcoin price forecast at $400,000 by the end of 2025. This forecast also uses the stock-to-flow ratio model, which the company said accurately predicted the price movement of the crypto asset from March 2019, to February 2021.