It’s Coming and Going for Bitcoin – Optimistic Bitcoin (BTC) price predictions were already plentiful during this long period of price stagnation. With what could now be the start of a new bull run , there is no limit to optimism: $ 20,000, $ 100,000 or, why not, 288,000 for a single BTC.
Kraken sees Bitcoin surpass old high soon
In its last report from October 2020, the crypto-exchange Kraken is very confident about the future of Bitcoin prices. The trading platform is therefore convinced that BTC is in a dynamic that will bring it at least to its previous ATH ( all time high ):
“With bitcoin rallying to a 33-month high, setting a higher high after 3 years of downtrendingprice action, and tending to go parabolic after breaking out of a macro downtrend, an ascent to $20,000 appears likely in the months ahead.”
Reaching its new high only seems like a step in the evolution of Bitcoin’s prices now, if some bullish pricing models are to be believed. Kraken goes so far as to make a curve projection going to .. $ 100,000!
Bitcoin to $ 288,000 and beyond?
In a tweet on November 8, BTC price analyst nicknamed PlanB (@ 100trillionUSD) renewed his confidence in his Stock to Flow (or S2F ) price modeling :
People ask if I still believe in my model. To be clear: I have no doubt whatsoever that #bitcoin S2FX is correct and #bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice! pic.twitter.com/GNSxLIt7NG
— PlanB (@100trillionUSD) November 8, 2020
When we see investment funds specializing in institutional investors, like Grayscale, which start buying cryptocurrencies with hundreds of millions of dollars. One can indeed wonder if a breaking point will not quickly appear in the supply of new bitcoins.
As everyone knows the principle of supply and demand, and with bitcoin production that was halved with the halving of last May, all the planets seem to be aligning themselves with an upward price panic. Be careful though! You will have to fasten your seat belt, because if already “prices never go up in a straight line”, Bitcoin prices are famous for their volatility.