What is your year end prediction for the price of bitcoin?
There have been many analysts calling for all sorts of price targets.
From $15k all the way up to $100k, and just about every point in between.
For today's post, I'd like to hear what you, the community, think the price of bitcoin is going to be by year end.
Mike Novogratz just revised his prediction down a few days ago saying he doesn't think that bitcoin will break $9k by the time the new year's eve ball drops.
For me personally, I find myself in that camp as well.
I think it basically will depend on the bitcoin ETF.
If we get approval from the SEC for a physically backed bitcoin ETF, like the VanEck one, before this year ends I think we can break $10k.
If we do not, I don't think we break $10k.
Going further down that path, I don't think we actually get that ETF approved before year end, which means the prediction of @jrcornel is somewhere below $10k.
I was originally thinking we might be able to get up near $12k-$15k area but I am not quite as bullish now as I think the next bullish phase may need to wait just a few more months.
I think by year end bitcoin will be somewhere around $8.5k.
What do you think?
Let me know in the comments section below.
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6450 USD
3450 grams of gold
Noice topic, I'm thinking around 10K - the thing is scarcity. I buy bit coin you buy bitcoin, less bitcoin to go around. Already 4 million lost and 1 million in Satoshi wallet. Long term 100K for me. (2-5 years) 2020 is the next halving so thats the time for the moon.
Cheers
Gunga
If my memory is correct, the next halving is about 19 months away. Sound right?
Yes sounds about right - I think when that happens things will change up again.
My guess is $12,000. I used the very ancient and revered WAG method in order to glean this number from all the data. For those unaware, the WAG method is also known as "wild ass guess." HODL everybody!
Haha that is probably as accurate as anyone else in all of crypto, the pros included!
One good news and it moons!
Unfortunately, my guess is $6,500. We have been languishing there for months now 😩👎😩
But remember the old saying, the longer the base, the higher in space! Meaning the longer we go sideways the more violent the move will be when we do eventually break out.
Honestly this boring sideways action has been kind of nice. There are real benefits in showing that the value of Bitcoin can stabilize. This is especially true in countries like Venezuela and Iran.
$7000
I agree 100%. People feel more comfortable about the fact that it can actually be used as a store of value this way.
I am betting on something around $32,000. I don't think that an approval or denial of the Bitcoin ETF will matter that much for its price. It showed its power even without ETFs.
That would be a massive move in a short amount of time. What would be the catalyst?
Glad you used the word betting, i hope your bet is a 99 to 1 :-)
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I consider bets my crypto investments also because there's no guarantees in any of them.
Glad to hear that.
But what should be the trigger for 32k?
Would be nice
Definitely FOMO. Some institutional money or big whales will have to start the trend, but then it will all be just FOMO. That's how I see it.
Dan I wish all of you right.
But it would be better like this ETF.
6.5k lmfao
Given the range we have been seeing over the past three months, I am pretty sure it will not be the current one as I think it is preparing to move one way or another. While I think the next move is down, I would not be surprised if it will signal the real bottom of the market as the fundamentals of blockchain technology and cryptocurrencies in general have been positive this year despite the price action.
I could see that as well. A dip and then rip. Something like $5k, then $8k to end the year.
I'm doing this monthly analysis on BTC price long term. It is pure statistics and cant tell for sure, but the average is 7k, on 01.01.2019. Five years data is used for this analysis.
Addition ....The R Squared value is 0,49, meaning around 50% impact. This means it can go 50% up or down from 7k .... or between 3.5k and 10k :)
Interesting analysis. Thanks for sharing. My $8k target lands right in there.
Love analysis like this, better than just my random guesses lol!
Thanks
I don't think it's wise to predict the exchange rate at new year, because the big spike will happen around mid-January again... Everyone wants BTC to hit $20k again when the big spike happens, so it has to be a lot lower than that during new year, possibly around $10k or even less.
$10,000 BTC :)
10k usd and a bono in form of a fork like the bch kind of fork.
Esta muy bien 10 k
i think it may reach 10k and stuck there for while
than slowly going higher
Ich denke auch 10k eher 9k
I agree with your guess of $8.5k. We've been hovering around $6.5k for months now, so I think 8.5k is realistic.
My thoughts as well. I think unless we get some kind of huge news, like an ETF, the price targets likely need to come in a bit in the short term.
7200 USD
$50,000 BTC
$6,000 end of year. $2.5 Million 2021
I like the positive thinking!
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Just a prediction based on what has been going on lately and through the year, I'm betting on BTC to be worth $12400 by the end of the year.
I'm sure it will be at least 12.5k. I just can't see bitcoin stay so low with all the good news. I can even see it reach an ATH once Rootstock launches its first bitcoin backed ICO.
Bakkt platform can be more important than ETF.. and bitcoin price goes to the 10 k