The crypto market looks great today, and Bitcoin continues to trade above $19k.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $19,389.91.
There have been all kinds of optimistic price predictions for Bitcoin, and they seem to continue.
2 new Bitcoin predictions
The Daily Hodl address two popular crypto analysts who just revealed very different Bitcoin price predictions for the end of 2021.
Strategist Michaël van de Poppe believes that Bitcoin will be trading in the $40,000-$60,000 range by the end of next year.
I expect $BTC to trade at $40,000-60,000 in December 2021.
— Michaël van de Poppe (@CryptoMichNL) December 2, 2020
For some, this prediction may seem pretty bullish compared to other analysts in the crypto space.
Willy Woo, on the other hand, says he believes $200,000 is now a conservative estimate.
Views on 2021 (THREAD):
My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question.
The current market on average paid $7456 for their coins. You all are geniuses. pic.twitter.com/5t1pHXwE0b
— Willy Woo (@woonomic) December 1, 2020
He continued and said: “I’ve never been so bullish for 2021. This re-accumulation phase coincides with spot market inventory depletion roughly 2x longer and deeper than the last cycle. It will send BTC.”
He also explained that “Also the dollar gain in market cap per dollar invested has significantly increased over past cycles, HODLers holding stronger. It was $2.00 in the 2013 bull run, $2.50 in 2017, and $3.50 or more for 2021. All pointing to reflexivity increasing; an amplified 2021 bullish feedback loop.”
We suggest that you check out his complete thread.
Someone asked Woo: “How surprised will you be if bitcoin does not go any higher than $40k? Serious question, because this prediction seems ludicrous to me. Do you know how much money would have to flow into bitcoin for this to happen?”
A follower responded: “There isn’t actually much new money flowing in. It’s mostly unbacked USDT that inflated the price. If Tether Treasury can keep printing USDT, then there is no limit for Bitcoin price.”