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Bullish Bitcoin price targets: Will the most popular cryptocurrency jump to 130,000 US dollars by the beginning of 2022? | 08/31/21

• Bitcoin course on ascent and descent
• Criticism of high electricity demand
• A new record high in prospect?

Bitcoin price up and down

Anyone who invests in the crypto veteran Bitcoin must expect high volatility. After a unit of the cryptocurrency was worth around 29,000 US dollars at the beginning of the year, the Internet coin made the jump to the previous record high of almost 65,000 US dollars in mid-April. Since then, the price has been under pressure due to negative press about Bitcoin: The high energy requirements that are required when mining the currency are criticized more and more. Not only does China want to take action against mining farms, but also the electric car manufacturer Tesla under the direction of Elon Musk has meanwhile moved away from the coin – at least until the environmental balance of the largest cryptocurrency weighted by market capitalization improves. Recently, however, the Bitcoin started to recover again and is currently trading at around 48,500 US dollars (as of August 29, 2021). So could Bitcoin soon leave its previous record high behind? If so many analysts have their way – yes.

BTIG forecasts US $ 95,000 by the end of 2022 – MicroStrategy and Coinbase also recommended

As early as spring, before the Bitcoin price plummeted, the financial services company BTIG forecast a price of 95,000 US dollars for CoinDesk by the end of 2022. In this context, the analysts also found words of praise for the software company MicroStrategy, which itself is heavily involved in Bitcoin is invested. The shares of the IT group under the leadership of crypto fan Michael Saylor could rise to 850 US dollars in the long term, the experts told the portal. The shares were most recently traded at $ 707.20 (closing price on August 27, 2021). In addition, the strategists also recommend buying shares in the newcomer Coinbase, which can also benefit from the BTC boom. “We have seen, at least in the past, strong correlations between Bitcoin and some of Coinbase’s key operating metrics,” Bloomberg news agency quoted BTIG analyst Mark Palmer as saying. Accordingly, the price of Coinbase shares could climb up to $ 500. Most recently, the titles changed hands for 259.12 US dollars each (closing price on August 27, 2021).

Pantera Capital CEO: Bitcoin will hit $ 115,000 by the end of summer

The US hedge fund Pantera Capital was even more optimistic in the spring. In a newsletter that CoinDesk has received, CEO Dan Morehead announced that the cyber currency will jump to 115,000 US dollars this summer. Although this would mean – based on the current price – an increase of almost 150 percent, larger price jumps in short periods of time would not be uncommon for the coin. The analysts at the hedge fund calculated the target price using the stock-to-flow model, which takes into account an asset’s annual issuance schedule.


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JPMorgan lowers target price from 146,000 US dollars – to 130,000 US dollars

Anyone who believes that Pantera’s price target is set with confidence will be amazed at the forecasts of the US bank JPMorgan. As Markets Insider reported, the bank’s strategists are assuming a Bitcoin price of 130,000 US dollars in the long term. The market experts arrive at this price target taking into account the fact that gold is lagging behind Bitcoin as an asset. “If you consider how large the financial investments in gold are, such a displacement of gold as an ‘alternative’ currency means great advantages for Bitcoin in the long term,” the JPMorgan analysts told the portal. “Mechanically, the price of Bitcoin would have to rise to $ 130,000 to match the total private sector investment in gold.” The bank has thus reduced its target price from the original USD 146,000. As the gold price fell below $ 1,900, the experts revised their assessment downwards.

Peter Brandt sees the Bitcoin price at the end of the year between 180,000 and 200,000 US dollars

Stock market expert and author Peter Brandt wants to go even further. In an interview with CoinDesk in the spring, the expert revealed that he sees the price for the cyber currency between 180,000 and 200,000 US dollars by the end of the year. Corrections do occur over and over again in the course of the share price – such as the most recent major slump in May – but it depends on the long-term development. “I keep an eye on the bigger picture,” explained the chart expert. “Bitcoin has had these big rallies for two to three years for the past 10-11 years and then there was a big correction.”

Wave Financial analysts expect the exchange rate to reach US $ 400,000 by the end of 2025

The investment firm Wave Financial also believes in a sharp jump in price: By 2025, the Internet coin could rise to 400,000 US dollars, as the company writes in a report whose title is “The Effects of Bitcoin on Portfolio Performance” “translates. In an article in “Bitcoin Magazine” Wave writes that such a high price target may seem unrealistic today, but in March 2019 – when Bitcoin was in the range of 4,000 US dollars – today’s price was also unthinkable.

Michaël van de Poppe, CEO and founder of the consulting and education platform Eight, also believes in this course level. As the crypto fan reported on his Twitter account, Bitcoin will be in a range between 350,000 and 450,000 US dollars in the long term. The trader also sets confident price targets for other popular crypto currencies such as Ether, Polkadot, Chainlink and Cardano.

It remains to be seen whether Bitcoin can actually climb to previous highs again – and then also beyond. But one thing is certain: the largest crypto currency has a large number of fans who are firmly expecting another crypto rally. editorial team

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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