Although bitcoin ended up with a more than 60% increase in 2021, there was a bit of a disappointment in the crypto space. This is because the asset failed to increase into a six-digit territory and actually fell by 30% in less than two months.

The creator of the popular stock-to-flow model, though, initiated a poll, which shows that nearly 50% of the community expects BTC to head to and above $100,000 by the end of 2022.

Above $100K in the Next 12 Months?

Before exploring the most recent poll, it’s worth noting that such surveys are widely dependent on the current market mood and can change quite rapidly. For example, in one such poll from September 2020, when BTC was just breaking above $10,000, most people said it will not go above $55,000 in 2021, which it did.

Later on, in March last year, when BTC was flying high at above $55,000, the majority of the community voted that it will go to north of $100,000, which it didn’t. Moreover, the biggest optimists even said it will go to $500,000.

Now, the general sentiment is somewhat more bearish, evident by the Bitcoin Fear and Greed Index indicating Extreme Fear. This is mainly because bitcoin is down by more than 30% since its mid-November peak of $69,000.

As such, it’s expected to a large extent that most people will be more modest in their 2022 predictions. PlanB’s latest Twitter survey shows that nearly 24% believe BTC will stay below $50,000, 31.1% think it will be between $50,000 and $100,000.

Yet, the answer with the most votes sees bitcoin going into a six-digit territory between $100,000 and $200,000. Only 12.6% voted that BTC will exceed $200,000.

What do you think #bitcoin price will be end of next year (Dec 2022)?

— PlanB (@100trillionUSD) December 29, 2021

2021 Was Actually Very Good

Despite the current negative sentiment in the community due to the latest price slides, last year was actually quite positive for the primary cryptocurrency. It charted several new all-time highs, with the latest coming at $69,000 as mentioned above.

Although BTC dropped by more than $20,000 since then, it still finished the year with an over 60% increase. As a result, PlanB outlined that it has outperformed most other traditional financial assets, including gold. In fact, the precious metal, considered by many as the ultimate hedging tool against inflation, ended up with a minor loss in a year that saw inflation rates skyrocketing.

Happy New Year!

2021: #Bitcoin +60%

Real Estate +35%

Stocks +27%

Bonds -2%

Gold -4% pic.twitter.com/lGnPybkJzD

— PlanB (@100trillionUSD) December 31, 2021

Mark Yusko – Chief Executive Officer at Morgan Creek Capital Management – once again opined that bitcoin’s USD value can skyrocket to $250,000 in the next five years. However, it might have a bumpy ride until reaching that milestone.

Better Than Gold

The American investor, hedge fund manager, and philanthropist – Mark Yusko – is a long-time bitcoin proponent with a consistent opinion of the asset. Earlier this year, he predicted that it will need no more than five years to land at a price of $250,000 due to network growth and rising adoption levels.

”This is a network and networks grow in an exponential way. This is the fastest network in history to a trillion dollars of value, right on the heels of FAANGS that took, you know 15 to 20 years depending on which one you are looking at.”

In a recent interview for CNBC, Morgan Creek Capital Management’s CEO envisioned the same forecast. He also praised the primary digital asset as superior to gold due to its fixed supply of 21 million coins:

“It’s classic supply and demand. One of the nice things about bitcoin as an asset is it has a finite supply. We know every day for the next 140 years how many bitcoin will be minted through the mining process.”

By the time when bitcoin reaches $250,000, its market cap would also equal that of the precious metal, Yusko added:

“I believe bitcoin has and is replacing gold. It’s now digital gold. It’s a perfect store value.”

Risk of Buy The Rumour, Sell The News

Contrary to his long-term prediction, the hedge fund manager “wouldn’t be surprised if a little consolidation” occurs in the next few months. While many experts such as Mike McGlone and Adam Back have recently pointed out $100,000 as bitcoin’s price tag for the end of 2021, Yusko is not so convinced:

“There are a lot of people that think we could hit $100,000 by the end of the year. The stock-to-flow model says we should. I also wouldn’t be surprised of a little consolidation. Look, we’re up 40% this month which is only 15 days old.”

He argued that a significant percentage of the crypto investors will take profits due to the recent sharp rally of the digital asset market. This could be another reason for BTC’s price to head south soon:

“A pause that refreshes given how overbought we are right now wouldn’t surprise me. There is some risk of the buy the rumor, sell the news.”

Featured Image Courtesy of MoneyINC

Chris Vermeulen – Founder and CEO of Technical Traders LTD – opined that bitcoin’s USD value would increase to $90,000 in about a year. Nonetheless, its price might plunge to $16,000 on its way to the new all-time high record.

How Does The Road to The Top Look Like?

In a recent interview for Kitco, Chris Vermeulen spoke about the future price tag of bitcoin. According to the presented charts and his analysis, the USD value of the primary cryptocurrency would go through major setbacks and would remain highly volatile in the next several months.

Speaking of exact numbers, the top executive predicted that it could plummet to $21,000 and even $16,000. Keeping that in mind, he advised investors not to deal with bitcoin, as of the moment, as its downtrend “could last one year, but it could also last eight years.”

He pointed out that many people are keen on cryptocurrencies. However, as is the case with precious metals, they should not “hold them when it’s not favorable” just because they “love them.”

While bitcoin’s future price seems hard to predict, Vermeulen noted that its recent pullback is one of the “smallest” compared to those throughout the years. However, he believes its price is likely to skyrocket to nearly $90,000 in mid 2022:

“We are looking at pretty much $89,000-$90,000 mark but that might not happen until next year, that’s my game plan.”

Is BTC Still on Its Way to Hit $100K?

While Vermeulen envisions a sharp price sharp ahead of a surge for BTC’s price, others believe that the asset will head north only, especially by the end of this year.

Such is Florian Grummes’ opinion. Last month the financial analyst stated that BTC could retrace to around $35,000 before skyrocketing once again. Landing at $100K would happen not later than the first quarter of 2022, he added:

“Bitcoin turns around at $35,000 and goes back to $60,000 and the bull market continues. I think $100,000 is probably happening within the next six months.”

The British cryptographer Adam Back shared an even more optimistic forecast: he sees the leading digital asset trading at $100K by the end of 2021. According to him, the global acceptance and deployment of bitcoin had reached a high enough level. It is also a better financial instrument than gold, he concluded:

“The comparison I liked was the competitor to physical gold, because, in many ways, bitcoin is a better physical gold.”

The CEO of blockchain forensics firm Chainalysis is optimistic that the bitcoin price will rise above $100,000 before the end of 2021.

$100k by December 2021

In a Bloomberg interview on Thursday (September 3rd, 2021), Michael Gronager, who is also the co-founder of cryptocurrency exchange Kraken, asserted that bitcoin and the cryptocurrency market, in general, are still in a bull run state.

Earlier in August, Kraken CEO Jesse Powell noted that the market was still in the early bull cycle. Speaking on bitcoin’s price prediction at the time, Powell said

“We could see $100,000 plus per coin late this year, early next year.”

Meanwhile, the Chainalysis CEO seemed to agree with Powell’s BTC price prediction, when asked if he believed bitcoin’s value could skyrocket to over $100K in 2021. According to Gronager:

“I think we are still in the bull market. I think we can see above a $100k by the end of the year, so I would be bullish on that as well. Long term, I would probably usually say the Moon is the limit but we can go beyond that as well.”

The Chainalysis head has joined the list of people who have predicted bitcoin’s price going above $100,000. Others such as Kevin Wadsworth of Northstar & Badcharts, Jordan Belfort, also known as the Wolf of Wall Street, Blockstream CEO Adam Back, Florian Grummes, have made similar predictions.

Even well-known bitcoin critic and economist Peter Schiff also stated that the BTC price could reach $100,000 or $1 million.

Gronager also commented on the price of ether (ETH), stating that there were some factors driving up the value of the second-largest crypto. According to the Chainalysis chief, one of such factors was the continuous growth of DeFi, which has contributed to ETH’s upward price movement.

Lack of Bitcoin Awareness Causing Resistance Among El Salvadorans

The Chainalysis CEO also discussed El Salvador’s bitcoin adoption. Although the Bitcoin Law proposed by President Nayib Bukele saw a supermajority vote in favor of making BTC a legal tender in the country, there has been some resistance.

With the law set to come into effect on September 7th, a recent survey showed that close to 70 percent of El Salvadorans were not enthusiastic about the Bitcoin Law.

Meanwhile, Gronager noted that the citizens were resistant to bitcoin adoption because they had little or no understanding of the asset. As stated by the Chainalysis head, people preferred to use the dollars they are familiar with.

The CEO continued, noting that if they downloaded the government’s Chivo wallet, they would realize how simple it is to use bitcoin. As previously reported by CryptoPotato late August, President Bukele already set up the necessary infrastructure ahead of the formalization of the Bitcoin Law.

El Salvador’s Assembly also recently voted in favor of establishing a bitcoin trust worth $150 million.

Kevin Wadsworth – co-founder of the technical analysis company Northstar & Badcharts – opined that the current cryptocurrency bull market would “conclude before the end of the year” and bitcoin would reach a price of around $100K. The top executive also stated that the primary digital asset’s USD value might exceed $1 million in 2025.

The Bull Market Is Still Yet to Peak

During an interview for Kitco News, Wadsworth shared an optimistic prediction about bitcoin and the cryptocurrency industry in general. Based on his company’s chart reviews, he forecasted that the current bull run of the digital asset market would reach its peak in the upcoming few months:

“I think the crypto bull market probably will conclude before the end of the year. “

Speaking of bitcoin, Wadsworth anticipates its price to increase in “September, October, and presumably November.” He expects to see it escalating to $100,000 during those months. Some of the leading altcoins such as Ethereum could also gain significantly as price surges by 3-4 times are quite possible:

“My target with bitcoin is somewhere close to $100,000. Anything above that is a huge bonus. If we get to $100K, I expect the altcoins – Ethereum and the rest – to triple and quadruple.”

The list of people predicting that bitcoin’s price will reach the milestone of $100,000 sometime soon keeps growing. It includes prominent names such as Jordan Belfort, a. k. a. The Wolf of Wall Street, Tom Lee, a Managing Partner at Fundstrat Global Advisors, Adam Back, CEO at Blockstream.

It is worth noting that even Peter Schiff – one of the biggest BTC bashers – believes the primary virtual asset can climb to such a price level. Despite keeping his negative stance on the matter, the economist admitted that not buying BTC in 2011 when he had first heard about it was a “keen mistake.”

What About BTC Trading at $1M?

Based on the company’s analysis, Kevin Wadsworth drew an even more optimistic future for the primary cryptocurrency: its USD value would skyrocket to $1,000,000 in four years. The British also assured that Northstar & Badcharts’ analysis has a 90-95% success rate when predicting such price events:

“We’d be at $1 million probably around 2025.”

Regarding the short-term price, Wadsworth described himself as “cautiously bullish.” To him breaking above $51,000 is crucial. If BTC does not achieve it, the USD value could head south to a level of $25,000 before starting to rally once again.