Bitcoin Price May Exceed $100,000 Before Dec 2021, Says Analyst, Looking at Chart

Libra Coin News
Tue, 09/24/2019 - 09:04
Yuri Molchan
Despite the fact that currently Bitcoin is staggering below $9,500, many remain bullish on the major cryptocurrency and keep predicting astonishingly high BTC price
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After the launch of physically settled Bitcoin futures on Bakkt on Monday, the Bitcoin price nosedived below the crucial level of $10,000. 

Crypto analyst PlanB has tweeted according to charts, Bitcoin price should get over the $100,000 price level before December 2021. As a reminder, this is also the time, by which the crypto baron John McAfee forecast BTC is to hit nothing less than $1 mln.

Bakkt shows poor results on the first trading day

As U.Today reported earlier, the results of the first trading day of the much-anticipated Bakkt BTC futures launch was far from perfect. Compared to the outcome of the first day on CME where the first BTC futures ever were launched in December 2017, the result is 75 times lower.

Curiously, the Bitcoin price went below $10,000 slightly before the launch.

At press time, BTC is sitting at 9,700, showing a mild rise.

Image by Coinstats

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Bitcoin is still bound to surge, experts say

PlanB analyst still reckons that it is too late to sprinkle ashes upon one’s head. As per him, Bitcoin price will go higher than $100,000 before December 2021 arrives.

The co-founder of Morgan Creek Digital, Anthony Pompliano has recently made a similar forecast.

Many who speak about Bitcoin price reaching astronomical highs, place their forecasts after 2020 – the year when Bitcoin halving is expected by the community.

It is bound to occur in May 2020 and it will cut miners’ rewards in two, thus making Bitcoin a more scarce asset.

The controversial US presidential candidate John McAfee has publicly stated that Bitcoin will hit $1 mln by 31 December 2021. Many believe this forecast to be highly exaggerated.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.