In these busy days, many predictions have been made about the price of Bitcoin. Check out some of them:
In this moment of real euphoria, nothing can be considered certain since we are facing a totally unprecedented scenario.
In fact, the only times that there have been months of practically continuous price increases have been the two times that a real speculative bubble has formed over the price of bitcoin, in late 2013 and late 2017.
In both cases, it was the final part of the bull race after halving, while many analysts argue that now the price of bitcoin is not yet going through that moment.
In fact, something vaguely similar happened in 2017, at the beginning of the year too, but with much lower price increases and much shorter duration.
The only similar precedent may be the first peak of the 2013 bull run, when the price rose from $ 13 in late December 2012 to nearly $ 150 in April 2013, ie by a multiplication of ten by about three and a half months.
In the current case, however, the price has multiplied four times in about three and a half months, which is not exactly the same.
It should be added that in 2013, after returning to $ 70 in mid-July, it had an incredible increase of 1,400% in five months that led to more than $ 1,100 in mid-December.
Bitcoin price forecasts amid rises and falls
Therefore, the current scenario is truly unique, unprecedented in Bitcoin’s short history, making it very difficult to make predictions based on solid fundamentals.
That said, some short-term forecasts, however, proved to be correct, like the one that assumed the approximation of US $ 42,000.
Although many forecasts are currently circulating, even very different from each other, in the short term there is one of the Bloomberg that follows the path described so far by those few who have proved correct.
In fact, he hypothesizes that the next resistance could be reached, located at around $ 50,000. This forecast, however, does not hide the risk that a correction may be triggered, although it does not specify when, or to what level the price may fall if triggered.
It is worth mentioning that among many analysts, the figure of US $ 25 thousand is circulating as the main support in case of correction.
With regard to the medium term, it is possible to note a certain convergence, although not shared by all, on the hypothesis that emerges from the stock-to-flow projection.
The graph shows the reach of US $ 100,000 at the end of 2021, and it is probably no accident that there are several forecasts that bet on exceeding this limit, such as that of the JPMorgan.
However, it should also be noted that in a period of such volatility, and with so many uncertainties about the future, there are also those who argue that in case of correction the price may end up falling well below the current quota, and perhaps remain there.