By
Chimamanda U. Martha
April 25th, 2024
While the aggregated forecasts by crypto Mr. Whale spell a great hope for Bitcoin investors across the board, he himself is less optimistic, noting that the digital currency is closer to 0 than $100,000 earlier in the month.
The digital currency ecosystem has seen a lot of Bitcoin (BTC) price predictions from market experts including top financial institutions and analysts, and crypto top voice, Mr Whale has aggregated each of these forecasts in one tweet. Bitcoin has notably charted a very impressive growth course in the past 1 year, with an evidential 400% advancement in price.
Here are some of the #Bitcoin Price Predictions for THIS year:
Fidelity: $100,000
Bloomberg: $400,000
Forbes: $700,000
JP Morgan: $140,000
PlanB Model: $135,000
Nasdaq: $100,000
Max Keiser: $220,000
Pompliano: $100,000Let’s revisit this in 3 months.
— Mr. Whale (@WhaleWire) October 13, 2021
From the fourth quarter of 2020 to date, the Bitcoin ecosystem has witnessed the influx of institutional money, a trend that is contributing to the maturity of the industry. With more interest growing across the board, so is the regulatory terrain in major hotspots like China dragging the growth of the interest. While there seems to be a balance in the factors stirring growth, and those suppressing it, Mr. Whale’s tweet ended with a call to revisit the predictions in three months’ time.
BTC Price Predictions as Aggregated by the Self-Proclaimed Crypto Whale
With barely three months until the end of the year 2021, the forecast by Bloomberg comes off as one of the most ambitious for the digital currency. The financial media house said back in April that Bitcoin is on track to close the year at a $400,000 price valuation, citing the incremental growth the premier cryptocurrency printed in previous years as its yardstick.
“The technical outlook for Bitcoin in 2021 remains strongly upward if past patterns repeat. Common companions for strong annual rallies in the first-born crypto – low volatility and halvings – are aligned favorably. Our graphic depicts Bitcoin on similar ground as the roughly 55x gain in 2013 and 15x in 2017. To reach price extremes akin to those years in 2021, the crypto would approach $400,000, based on the regression since 2011 high. In September, 180-day volatility on the crypto about matched the all-time low from October 2015. From that month’s average price, Bitcoin increased a little over 50x to the peak in 2017,” the Bloomberg report highlighted.
Forbes Magazine’s projection of $700,000 is even more aggressive, beating not just Bloomberg’s call, but also of Max Keiser which is pegged at $220,000. Other top voices include Stock-to-Flow creator PlanB who forecasts a $135,000 worst-case scenario price for Bitcoin by year-end, adding that in the best-case scenario, the cryptocurrency could see a $450,000 price valuation this year.
Other key projections include the $100,000 projections from Fidelity Investments, Nasdaq, Anthony Pompliano, as well as the $140,000 predicted by JPMorgan Chase & Co (NYSE: JPM). Bitcoin is known to possess the right amount of volatility to hit some of these ambitious price tops, however, the journey to highs as much as Bloomberg’s and Forbes is very steep and many factors will need to be aggregated to permit this.
#Bitcoin is closer to hitting $0, than it is to hitting $100,000.
The $100K+ targets that 95% of influencers are calling for this year (2021) isn’t happening.
Greedy and euphoric retail are easier to manipulate (and dump on) —That’s why they push these false fantasy narratives!
— Mr. Whale (@WhaleWire) October 2, 2021
While the aggregated forecasts by crypto Mr. Whale spell a great hope for Bitcoin investors across the board, he himself is less optimistic, noting that the digital currency is closer to 0 than $100,000 earlier in the month.