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Abstract

<p id="3a89">This would give us a bitcoin price range between $80,000–110,000.</p><h1 id="8a86">Biggest Concerns for Bitcoin</h1><p id="dedd">What’s standing in the way of new, exponentially higher bitcoin prices and even more mainstream adoption?</p><ul><li>Third Party and Miner Concentration</li><li>Political and Regulatory Unknowns</li><li>Prolonged Adoption Periods</li></ul><blockquote id="498c"><p><a href="https://bitcoinbinge.substack.com/subscribe"><b><i>Want more content like this? Sign up for my newsletter</i></b></a><b><i>.</i></b></p></blockquote><div id="0639" class="link-block"> 
      <a href="https://readmedium.com/how-much-bitcoin-should-you-own-926421a6b633">

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            <h2>How Much Bitcoin Should You Own?</h2>
            <div><h3>What to consider when buying bitcoin.</h3></div>
            <div><p>medium.com</p></div>
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    </div><h1 id="f64b">Other Calls for $100K</h1><p id="dde4">Surprise, surprise — Anthony Pompliano is another prominent name in crypto calling for a <a href="https://readmedium.com/the-case-for-a-1-million-bitcoin-ed0f1b4bf7ef"><b>$100,000</b></a> bitcoin.</p><p id="4620">Pomp reiterated his stance in November and continues to be a major bitcoin bull, citing bitcoin as <b>“the winner of a supply-and-demand exercise.”</b></p>
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            <img class="ratio" src="http://placehold.it/16x9">
            <iframe class="" src="https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&amp;key=a19fcc184b9711e1b4764040d3dc5c07&amp;schema=twitter&amp;url=https%3A//twitter.com/apompliano/status/1331591543556345856&amp;image=" allowfullscreen="" frameborder="0" height="281" width="500">
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    </figure></iframe></div></div></figure><p id="bf0f">Pomp’s supply and demand call comes after bitcoin’s third halving and a massive increase in bitcoin purchases through PayPal and Square. <a href="https://readmedium.com/bitcoin-has-achieved-mainstream-institutional-adoption-a3092b943250"><b>These retail giants are driving increased interest in the fixed asset.</b></a></p><p id="44ac" type="7">Bitcoin is the winner of a supply-and-demand exercise… I don’t think it’s that crazy to see a $100,000 bitcoin price by the end of 2021. — Anthony Pompliano</p><h2 id="28e1">Traders Speculate New Highs</h2><p id="599b">Todd Gordon, founder of TradingAnalysis.com, cites the Elliot Wave Theory in his bitcoin price analysis. The theory takes into account mentalities and emotions driving prices and breaks down price changes by waves.</p><blockquote id="4d70"><p>It’s a wonderful way to value crypto because Elliott wave is meant to detect the herding mentality and the emotions driving the price — fear and greed — and it creates very recognizable patterns.

Options

” <b>— Todd Gordon, <a href="https://www.cnbc.com/2020/11/24/bitcoins-on-track-to-74000-trader-says-as-crypto-nears-records.html">CNBC</a></b></p></blockquote><p id="0327" type="7">Based on Gordon’s analysis of bitcoin’s price action during previous waves, it could reach 74,000.</p><p id="04fb">Mark Tepper, president and CEO of Strategic Wealth Partners, went with the even more blunt, supply and demand approach. <b>He cites FOMO, comparing bitcoin prices to Tesla’s recent run-up.</b></p><p id="6839" type="7">If I never owned any and bitcoin hits 100,000 per coin, I’d probably cry myself to sleep every night for the rest of my life. — Mark Tepper</p><h2 id="a600">100K Is Just The Start</h2><p id="2abd">Pierre Rochard is a notable name in crypto. You might follow him on Twitter. If not, <b>he’s been outspoken about a 100,000 bitcoin being <i>too low.</i></b></p><p id="fc5a" type="7">100,000, that’s a 5x from where we’re at now and I think that’s not even really a parabolic top if you were to look at the chart. — Pierre Rochard</p><p id="32e0">Rochard sees a potential surge to 100,000, followed by a crash to 80,000. Then, there’s room for a run-up to 200,000 or higher. He even presents the possibility of a 600,000 bitcoin.</p><h1 id="ee8a">Previous BTC Predictions</h1><ul><li><a href="https://readmedium.com/will-bitcoin-be-100-000-this-time-next-year-631544fdfaa3">Stock-to-flow puts bitcoin at 100,000 by August 2021</a></li><li><a href="https://readmedium.com/how-bitcoin-reaches-300-000-in-2021-a5c21c4c7dd5">Bitcoin bulls see potential for 300,000 in 2021</a></li><li><a href="https://readmedium.com/how-much-bitcoin-should-you-own-926421a6b633">Winklevii make case for 500,000</a></li><li><a href="https://readmedium.com/the-case-for-a-1-million-bitcoin-ed0f1b4bf7ef">Bitcoin to 1 million? Some say in due time.</a></li></ul><p id="15d7">A 100,000 bitcoin is nothing new when it comes to predictions.</p><p id="8fc0"><b>What’s significant about these calls though, is that they’re taking into account the current environment and data produced in 2020.</b></p><p id="7e0a">As we close out the year, all eyes are on bitcoin.</p><p id="61eb"><b><i>Thanks for reading!</i></b><i> I am not an investment or financial advisor. This is not financial advice. All opinions expressed are mine alone. If you want more content like this, <a href="https://bitcoinbinge.substack.com/subscribe"><b>sign up for my weekly email.</b></a></i></p><div id="1938" class="link-block"> <a href="https://readmedium.com/i-built-an-ethereum-mining-rig-in-2020-for-under-1-000-d03bc5413ee6"> <div> <div> <h2>I Built an Ethereum Mining Rig in 2020 for Under $1,000</h2> <div><h3>How to mine Ethereum in 2020.</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*QKUUAzYEQLk0h0CVMxYPNg.jpeg)"></div> </div> </div> </a> </div></article></body>

New $100K Bitcoin Price Predictions

OKCoin CEO and others call for a $100,000 bitcoin in 2021.

Bitcoin has soared as much as 240% in 2020, surging from lows at the start of the global pandemic to new all time highs heading into December. What a year it’s been for bitcoin.

As of writing, the price of bitcoin is $19,488.

Bitcoin briefly topped December 2017 highs and looks primed to remain bullish in the coming weeks.

Anything can happen in the short term, but several big names in crypto are renewing calls for $100,000 within the next 12 months.

OKCoin CEO Calls for $100K

Hong Fang is the CEO of OKCoin, a cryptocurrency exchange headquartered in San Francisco.

She believes that bitcoin is likely to reach $100,000 some time before the end of 2021.

If we put aside short-term volatility and take a long-term perspective, there is a reasonable path for the price of bitcoin to reach over $500,000 in the next decade. To go even further, I think BTC is likely to hit $100,000 in the next 12 months. — Hong Fang, CoinDesk

Succesful 3rd Halving, 2020 Resilience

The OKCoin CEO sees the successful third halving, coupled with mainstream institutional interest, making bitcoin more resilient. Also noteworthy is her take that bitcoin has no centralized ‘marketing team’ pushing it.

Bitcoin continues to gain traction despite its decentralized nature.

Bitcoin operates as a decentralized global network. There is no coordinated marketing team out there promoting bitcoin’s utility to the world. It is the dramatic price volatility that has continued to attract attention from non-followers, some of whom were later converted into believers, thus driving the continued momentum of bitcoin adoption. — Hong Fang, CoinDesk

BTC Catching Up With Gold

Bitcoin still has a long way to go in order to catch up with gold in terms of both market cap and overall adoption.

  • Current Gold Market Cap Is $9 Trillion
  • Current BTC Market Cap Is $350 Billion

It’s unrealistic to think that bitcoin can match gold’s market cap within the next year. The OKCoin CEO does, however, believe that bitcoin can rise to 20%-25% of gold’s market cap.

This would give us a bitcoin price range between $80,000–110,000.

Biggest Concerns for Bitcoin

What’s standing in the way of new, exponentially higher bitcoin prices and even more mainstream adoption?

  • Third Party and Miner Concentration
  • Political and Regulatory Unknowns
  • Prolonged Adoption Periods

Want more content like this? Sign up for my newsletter.

Other Calls for $100K

Surprise, surprise — Anthony Pompliano is another prominent name in crypto calling for a $100,000 bitcoin.

Pomp reiterated his stance in November and continues to be a major bitcoin bull, citing bitcoin as “the winner of a supply-and-demand exercise.”

Pomp’s supply and demand call comes after bitcoin’s third halving and a massive increase in bitcoin purchases through PayPal and Square. These retail giants are driving increased interest in the fixed asset.

Bitcoin is the winner of a supply-and-demand exercise… I don’t think it’s that crazy to see a $100,000 bitcoin price by the end of 2021. — Anthony Pompliano

Traders Speculate New Highs

Todd Gordon, founder of TradingAnalysis.com, cites the Elliot Wave Theory in his bitcoin price analysis. The theory takes into account mentalities and emotions driving prices and breaks down price changes by waves.

It’s a wonderful way to value crypto because Elliott wave is meant to detect the herding mentality and the emotions driving the price — fear and greed — and it creates very recognizable patterns.” — Todd Gordon, CNBC

Based on Gordon’s analysis of bitcoin’s price action during previous waves, it could reach $74,000.

Mark Tepper, president and CEO of Strategic Wealth Partners, went with the even more blunt, supply and demand approach. He cites FOMO, comparing bitcoin prices to Tesla’s recent run-up.

If I never owned any and bitcoin hits $100,000 per coin, I’d probably cry myself to sleep every night for the rest of my life. — Mark Tepper

$100K Is Just The Start

Pierre Rochard is a notable name in crypto. You might follow him on Twitter. If not, he’s been outspoken about a $100,000 bitcoin being too low.

$100,000, that’s a 5x from where we’re at now and I think that’s not even really a parabolic top if you were to look at the chart. — Pierre Rochard

Rochard sees a potential surge to $100,000, followed by a crash to $80,000. Then, there’s room for a run-up to $200,000 or higher. He even presents the possibility of a $600,000 bitcoin.

Previous BTC Predictions

A $100,000 bitcoin is nothing new when it comes to predictions.

What’s significant about these calls though, is that they’re taking into account the current environment and data produced in 2020.

As we close out the year, all eyes are on bitcoin.

Thanks for reading! I am not an investment or financial advisor. This is not financial advice. All opinions expressed are mine alone. If you want more content like this, sign up for my weekly email.

Bitcoin
Crypto
Cryptocurrency
Finance
Investing
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