2021 Outlook on cryptocurrency

“The momentum of institutional adoption of Bitcoin and cryptocurrencies that we’ve seen in Q1 of 2021 indicates that it’s not out of the ordinary to see the BTC price hit $100,000,” Yap said. “It is very possible considering the rate of growth the cryptocurrency industry has experienced over the past few months.” 

Interestingly, only a handful of panellists see Bitcoin’s price ending the year lower than US$60,000. Lee Smales, associate professor of finance at the University of Western Australia, came in with the lowest prediction, with a year-end price of just US$25,000. The rest of the panelists on the lower end of the predictions pegged Bitcoin’s end-of-year price to be somewhere between US$40,000 and US$56,000.

However, at the other end of the spectrum, Morpher CEO Martin Fröhler — who believes that the value of Bitcoin come the end of 2021 will hit US$250,000 — says BTC is the future.

“Bitcoin is the ultimate long term store of value and will gradually replace gold and bonds in that role,” Fröhler said.

Looking further down the road, our panel believes that Bitcoin will end 2025 with an average price of US$360,179. Just over a third (35.71%) of respondents say that BTC will end 2025 with a valuation of $500,000 or more, and about 1 in 7 (14.29%) say that the price will reach US$1 million.

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