BITCOIN, How high will it go in 2021

Just for fun, what is everyone’s prediction for Bitcoin price in 2021

As much as I would like to see it, I don’t buy the hype of 6 figure Bitcoin in 2021, but another price surge or two seems unavoidable.

with that, I think a double from here is realistic, so my

2021 Price Prediction for Bitcoin is 80K

I asked this question about a month ago when I was finalising my 2021 detailed trading plan for Crypto. It wasn’t just for fun - it was to establish a plan against which I can measure my actual performance.
I spend an inordinate amount of time watching Youtube videos on the subject of crypto and have made my plan estimate of the value of BTC based on what I consider to be a reasonable consensus of those “estimates”.

Actual at start of year USD28,000
Planned at end of year USD150,000
Difference per week, linear regression, rounded USD2,400 per week

So against these figures, I have a quantity of BTC that I own at the start of the year, and a quantity I plan to own at the end of the year. I use these fiat numbers as a yardstick against which to measure my PLAN, but I will be satisfied if I manage to achieve the end results in quantity of BTC at the end of the year, not in fiat USD terms.

I did not come to this conclusion lightly, nor rapidly. It is the same philosophy as seems to be prevalent with successful traders I have observed over the past 20 years. Instead of thinking in terms of USD, EUR or GBP depending on the jurisdiction in which you spend your currency, I prefer to plan in units of account relating to the underlying asset. So I think in kg of silver, ounces of gold and quantities of Bitcoin. Without this mindset, I doubt I would be able to strategise, plan and achieve. It’s just the way I have always done things.

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love the plan

I am holding out for 300K Bitcoin, so I am riding the Citibank call, I just don’t see it happing this year. Once we do hit that point I need to think about cashing out as that will make for a nice retirement.

you have clearly done your research and look forward to reading more of your post on the subject

take care
Dennis

I tend to agree with you. But we are in unprecedented times. One quarter of all currency in circulation in the USA has been created last year, I hear. Like you I need to think about cashing out, but it first has to happen. One thing is for sure. Last May, I had no interest in or knowledge of crypto currencies. Now I see the asset class as a potentially life changing opportunity, with a potential risk to reward within 3 years that would need 20 years to achieve in conventional assets. So a minor investment won’t hurt us :slight_smile:

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This week - linear regression price of BTC is USD40,000. Actual today is USD46,000+
This is a sobering thought - an asset that may climb USD2,400 per week that a few months ago cost USD10,000? As investor Raoul Pal said, about the Michael Saylor effect, “a wall of corporate currency is there and is just about to hit BTC head on”.

Personally, I found it hard to contemplate how and when BTC may become a six figure sum, but I am sure glad I wrote it down and made an investment and trading plan based on it.

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I have been working off of a much simpler price model that discounts the peaks and valleys in favor of a medium price, for 2020 that would have been 8K and for the first half of the year we were right on it, then the price explosion. My model calls for the following going forward
2021 16K
2022 32K
2023 64K
2024 128K
2025 256K
With this model we could experience another price correction like 2018 and still see a doubling.

I am not ready to pick out my private Caribbean Island yet, but if this price progression holds for the next 5 years I can see a couple Cruises each year and a new Motor Home fitting into my retirement budget ( fingers crossed)

Phew. That progression is insane. I can only hope you’re right!

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So you’re thinking down from where are are now for most of the year?

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Not at all, I am thinking 80K for a high in 2021 and we might blow through that, I am simply looking at a price doubling each year, we are currently a year and a half ahead of my model, but if we see a pullback and consolidation like 2018-2019 then my model will be more in line with the actual price.

Think of it as global warming, we get a hot summer( Bitcoin explodes higher) and all the global warming loonies think that is the new normal and life on earth will end in 5 years (or one million for a Bitcoin), I don’t look at the peaks and valleys so my model is more conservative and shows it will take a few more years to get to those 6 figure numbers

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This ponzi scheme is headed to big zero. All tulip manias come to an end

The only ponzi scheme is the one between your ears, This is a trading site and we exchange trading ideas, if you are just here to spam the thread with mindless crap then move along, you are not welcome here

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I think it will easily break 50K in 1-2 weeks because of immense attention from public after the Tesla announcement (buying BTC + accepting payments in BTC soon). There is a healthy correction now after breaking to new all-time highs but it’s all temporary.

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We got up to 49,700 at one point today

i would loe to see a major price correction before the next bull run but who knows at this rate

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We have a hard sell-off to start the new week, maybe you are getting your wish

It is quite true that bitcoin prices will reach 100 thousand, but one should not exclude the possibility of a fall in the rate or its static. At the moment, the price of bitcoin is $ 50,176.70, which is already a great value considering its value a year ago. The popularity of the cryptocurrency exchange is also growing, and every day more and more new participants appear who want to make money on the growth or fall of the rate. I myself am trying to work on this since cryptocurrency is an excellent source of passive income for me. Using the service [https://bittrade.one/](https://bittrade.one/), I got acquainted with a method called cryptocurrency scalping, due to which I can earn money on small fluctuations in the rate. With this method, I make a small profit, which is pretty good for a passive income.
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Yeah I’m also waiting for some decent retracement (to the 40K support zone) in order to enter. Remember that when everybody is greedy it’s time to fear. Current situation with BTC starts to develop much in this fashion so I guess it’s time to take a break and become patient.

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We topped 50K for about 5 minutes, looking at the 5 min chart we see a 2K trading range in two 5 min candles. That is the risk if you are trading Bitcoin, I prefer to buy and hold then sit back and watch the show

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Yea, it’s crazy how fast we reached $50K since even $30K. But my fear is that the fast pace up means an ever faster pace down. I don’t know how traders keep up with such quick price moves. limit trades or alerts or something. I’ve seen big moves in like 15 minutes. How do you react to that?