Bitcoin is in and out
Bitcoin’s (BTC) optimistic price forecasts were already plentiful during this long period of stagnant prices. With what could now be the start of a new bull run, there is no limit to optimism: $20,000, $100,000 or, why not, 288,000 for a single BTC.
Kraken sees Bitcoin Revolution app surpassing its former high soon
In its latest report of October 2020, the Kraken crypto stock exchange is very confident about the future of Bitcoin’s prices. The exchange platform is thus convinced that the BTC is in a dynamic that will bring it at least to its previous ATH (all time high):
„Given that Bitcoin has just reached a price peak that has not been seen for 33 months, reaching a new high after three years of falling prices (…) a recovery to $20,000 seems very likely in the coming months. »
Reaching its new high seems to be just one step in the evolution of Bitcoin’s prices, according to some optimistic pricing models. Kraken goes so far as to make a curve projection going to . 100 000 $ !
Bitcoin towards $288,000 and beyond?
In a tweet published on November 8th, the BTC price analyst nicknamed PlanB (@100trillionUSD) renewed his confidence in his Stock to Flow (or S2F) price modeling :
„People ask me if I still believe in my model. To be clear, I have absolutely no doubt about the accuracy of the S2F model for Bitcoin, which will reach $100,000 to $288,000 by December 2021. In fact, I even have new data confirming that the shortage between supply and demand is real. In my opinion, 2021 will be spectacular. This is not financial advice. »
When we see investment funds specializing in institutional investors, like Grayscale, who are starting to buy cryptosystems at a cost of hundreds of millions of dollars. One can indeed wonder if a break point will not quickly appear in the supply of new bitcoins.
As everyone knows the principle of supply and demand, and with bitcoin production halved with last May’s halving, all the planets seem to be lining up for an upward price collapse. But beware! You’ll have to buckle up, because while „prices never rise in a straight line“, Bitcoin prices are famous for their volatility.