Bitcoin at $100000 in 2021? Outrageous to some, a no-brainer for backers
Bitcoin investors, which include top hedge funds and money managers, are betting the virtual currency could more than quintuple to as high as $100,000 in a year. It’s a wager that has drawn eye-rolls from skeptics who believe the volatile cryptocurrency is a speculative asset rather than a store of value like gold.
Since January, bitcoin has gained 160%, bolstered by strong institutional demand as well as scarcity as payment companies such as Square and Paypal buy it on behalf of customers. Bitcoin is within sight of its all-time peak of just under $20,000 hit in December 2017. It debuted in 2011 at zero and was last trading at $18,415.
Going from $18,000 to $100,000 in one year is not a stretch, Brian Estes, chief investment officer at hedge fund Off the Chain Capital, said. “I have seen bitcoin go up 10X, 20X, 30X in a year. So going up 5X is not a big deal.”
Estes predicts bitcoin could hit between $100,000 and $288,000 by end-2021, based on a model that utilizes the stock-to-flow ratio measuring the scarcity of commodities like gold. That model, he said, has a 94% correlation with the price of bitcoin. Citi technical analyst Tom Fitzpatrick said in a note last week that bitcoin could climb as high as $318,000 by the end of next year, citing its limited supply, ease of movement across borders, and opaque ownership.
The so-called whale index, which counts addresses or wallets holding at least 1,000 bitcoins, is at an all-time high, said Phil Bonello, research director at digital asset manager Grayscale. Bonello said more than 2,200 addresses were linked to large bitcoin holders, up 37% from 1,600 in 2018, suggesting that institutional money has stormed in.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 64% | 68 | $30 078.86 | -3.11% | -3.12% | $572 752 759 821 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 64.8% | 69 | $2 040.08 | -4.19% | -10.99% | $246 452 104 779 |  |
|
| 3 |  USDT |
Tether predictions | 94% | 1 | $0.998945 | -0.01% | -0.10% | $75 672 207 650 |  |
|
| 4 |  USDC |
USD Coin predictions | 92% | 1 | $1.000508 | -0.02% | 0.03% | $51 903 555 902 |  |
|
| 5 |  BNB |
Binance Coin predictions | 69.6% | 67 | $299.90 | -2.87% | -3.10% | $48 967 465 897 |  |
|
| 6 |  XRP |
XRP predictions | 68.4% | 65 | $0.427645 | -3.01% | -14.63% | $20 673 702 175 |  |
|
| 7 |  ADA |
Cardano predictions | 64% | 69 | $0.566998 | -2.61% | -10.70% | $19 137 629 395 |  |
|
| 8 |  SOL |
Solana predictions | 61.2% | 80 | $54.88 | -3.41% | -17.86% | $18 502 523 504 |  |
|
| 9 |  BUSD |
Binance USD predictions | 94.4% | 1 | $1.001917 | 0.16% | 0.06% | $18 021 373 696 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 67.2% | 70 | $0.088106 | -3.91% | -19.04% | $11 689 066 228 |  |
|
| 11 |  DOT |
Polkadot predictions | 59.6% | 80 | $10.80 | -6.53% | -3.83% | $10 663 415 500 |  |
|
| 12 |  AVAX |
Avalanche predictions | 62.4% | 81 | $33.64 | -7.03% | -24.96% | $9 052 857 409 |  |
|
| 13 |  WBTC |
Wrapped Bitcoin predictions | 69.2% | 68 | $30 052.34 | -3.06% | -3.49% | $8 534 982 346 |  |
|
| 14 |  TRX |
TRON predictions | 69.2% | 65 | $0.069883 | -2.03% | -7.52% | $6 832 451 366 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 63.6% | 79 | $0.000012 | -4.41% | -19.78% | $6 682 885 305 |  |
