A brand new Bitcoin (CCC:BTC-USD) worth prediction claims that the crypto may hit the $100,000 mark by the top of 2021.
That worth prediction for Bitcoin comes from Bloomberg in its most up-to-date Crypto Outlook. In that report, the publication weighs numerous cryptos and the way it expects them to carry out within the coming months.
In the case of Bitcoin, it appears like BTC may see main positive factors in 2021. The report says that the crypto is extra prone to method $100,000 this yr than it’s to fall again right down to $20,000.
Here’s a direct quote from that report.
“About $40,000 stands out as the Bitcoin cap some time inside what we see as a resting crypto-asset bull market. No. 2 Ethereum is quickly transferring towards No. 1 market-cap standing and has been a prime driver of the Bloomberg Galaxy Crypto Index in 2021. Bitcoin is extra prone to resume appreciating towards $100,000 resistance moderately than sustaining beneath $20,000.”
It isn’t simply Bitcoin that Bloomberg is anticipating to rally this yr. The publication believes that crypto is approaching an upward development usually. That means different digital belongings, reminiscent of Ethereum (CCC:ETH-USD), are additionally possible going to see positive factors all year long.
Interestingly sufficient, the Bitcoin worth prediction for 2021 comes as crypto markets see one other crash as we speak. While which will scare away some traders, the falling worth additionally means it may very well be a very good time to get into the sport earlier than costs head larger all year long.
BTC was down 5% over a 24-hour interval on Friday however continues to be up 27.3% for the reason that begin of the yr.
There’s extra than simply Bitcoin information within the crypto market value as we speak.
Several firms and cryptos are value speaking about as we speak. That features a main e-sports deal for FTX Token (CCC:FTT-USD), Alaska Inu (CCC:LAS-USD) worth predictions, in addition to a crypto mining deal for The9 Limited (NASDAQ:NCTY). You can be taught all about these topics on the following hyperlinks.
More Crypto News for Friday
On the date of publication, William White didn’t have (both straight or not directly) any positions within the securities talked about on this article. The opinions expressed on this article are these of the author, topic to the InvestorPlace.com Publishing Guidelines.