Will Bitcoin Price Reach $ 100,000 in 2021? Analysts' opinions

Since March 2020, the Bitcoin (BTC) rate has risen by 800% to the current level of $38 thousand.Last week, on January 8, the cryptocurrencyset a new all-time high of $ 42,000This is not the limit, according to analyst David Sailer, who started mining BTC in 2011. In an interview with Money Morning, he said that the coin will rise in price to $ 100 thousand by 2022, writes RBC Crypto.

One of the reasons for the possibility of such a scenarioSailer considers a halving that happened in May and reduced the size of the reward that miners receive for mining cryptocurrency from 12.5 to 6.25 BTC. The analyst also noted that it became easier to buy cryptocurrency due to the fact that payment systems and applications such as Cash App, Robinhood and PayPal added support for digital money.

Financial analyst of the Currency platform MikhailKarkhalev also believes that the scenario of a rise in the price of bitcoin to $ 100 thousand is not excluded. The expert called the prerequisites for such growth an increase in the turnover of crypto transactions in the PayPal system, record trading volumes and a high level of open interest in bitcoin futures on the Chicago Mercantile Exchange (CME).

“The number of bitcoins in circulation is decreasing, andthe demand for it is growing and now not only from retail investors, but also from professionals, which was not the case in the same 2017. I do not see among all this that could put pressure on bitcoin and cause its collapse in the next 1.5 - 2 years "Karkhalev explained.

He added that it might be worth buyingbitcoins now. Over the past 5 days, the rate of the first cryptocurrency fell by 18%. This is a correction, but not the beginning of a long-term decline, the expert suggested. From his point of view, the growth phase has just begun, however, in the future he may be less impulsive.

Artem Deev, head of analyticalDepartment of AMarkets, also allowed a multiple increase in the price of bitcoin. It can rise to $ 100 thousand, such a scenario is "quite likely", even if it looks fantastic now, the expert emphasized. He recalled that at the beginning of last year, few people expected the price of BTC to rise to $ 40 thousand.

Deev clarified that now, perhaps, notthe right moment to purchase cryptocurrency. Since the beginning of autumn, the BTC price has risen by almost 250% and a correction is inevitable. There is a risk that the coin rate will fall to $ 30 thousand, maybe up to $ 20 thousand, the expert warned. From his point of view, this decline will be temporary, increased demand from institutional investors and limited supply will still "push" bitcoin quotes up.

“In the long term, bitcoin is more and morewill become another protective asset, along with gold. And the deeper the global recession, the more the dollar loses its position against world currencies, the more investors will choose bitcoin as a means of protection against inflation "- says Deev.

Victor Pershikov, Lead Analyst at 8848 Invest,also gave a positive forecast for the bitcoin rate. In his opinion, in 2021 the upward trend will continue, and the immediate target is the level of $ 50 thousand. Further price behavior will depend on market participants, the expert said. They may decide to take profits by selling most of the coins they buy, leading to a significant correction.

“This year the level is $ 100 thousand.is not so obvious. To achieve it, bitcoin must act as a truly defensive asset. This can be facilitated by the growth of geopolitical tensions, as well as a significant decline in stock markets, which is not so obvious now. I do not expect to reach the level of $ 100 thousand this year, but goals of $ 50-60 thousand are quite probable ", - said Pershikov.

The reasons for the continued growth of quotationsBitcoin expert considers the growth of inflation in the United States and the prices of commodity assets. Investors are worried about a possible depreciation of the dollar and political risks, and therefore are looking for a safe haven to preserve the value of their investments, Pershikov explained. He added that the significant packages of monetary aid planned by Joe Biden will trigger an influx of liquidity, and this will significantly support digital asset prices.

Rating of TOP-5 cryptocurrency exchanges

For the safe and convenient purchase of cryptocurrencies, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support the deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

The most reliable sites with the highest turnoverfunds, for several years the largest cryptocurrency exchange in the world has been Binance. The Binance platform is the most popular crypto-exchange in the CIS as well, since it has the maximum trading volumes and supports transfers in rubles from Visa / MasterCard bank cards and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

#	Cryptocurrency exchange	Official site	Site evaluation
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.5
3	Exmo	https://exmo.me	6.9
4	Yobit	https://yobit.net	6.3
5	OKEx	https://okex.com	6.1

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

</p>

Rate this publication