S2F a prominent name of the financial industry has made some serious claims about Bitcoin price reaching $100K by December 2021 and the market can’t seem to keep shut about the same. It sounds like great news considering all the factors that Bitcoin has been witnessing over this last year.
Though it had been a tough year for the rest of the economy Bitcoin managed to flourish aggressively despite the pandemic situation, in fact, the pandemic situation has a major role to play in helping the bitcoin price rise. Adding to all this good news, the S2F creator has this great news to share about the Bitcoin market.
He is famous for developing PlanB, the prominent stock-to-flow model which has garnered a lot of attention over time. It’s like when renowned people and famous personalities like these give such remarkable statements it sends a wave of positive sentiment across the market which further helps increase the price of Bitcoin.
image credit: Bitcoin.com
In a recent statement, he claimed that the Bitcoin price will rise to $100,000 by December 2021 and he has no doubts about it. He believes that going by the current trend it seems like Bitcoin is on its way to hit the all-time high limit of $100,000 and it will soon happen by 2021. Not just this, he believes that even after that the price will keep on rising. He thinks that 2021 is going to be a great year for Bitcoin and there is no doubt about that.
He believes that out of all the Cryptocurrencies Bitcoin will be flourishing the most and its price will be fluctuating between the limits of $100,000 to $288,000 by December 2021. So, all of you who had been considering investing in Bitcoin now is the time. As your investment today will reap you incredibly high benefits later in 2021. Even if you have long time plans for Bitcoin investments the time is ripe, as later the prices will only be increasing further.
He has made a very big statement though and if we do the maths it is almost like Bitcoin has to rise by 600% in its current price to reach this position. Well, this is incredibly high and to be honest a little difficult to believe. A good point though is that whenever this anonymous analyst has claimed in the past all of them have almost been true. so, he holds a track record of making very correct predictions in most cases.
Well, if Bitcoin does increase by 600% of its current value then that would mean. At this point, the market capitalization will be as high as $2 trillion which is close to that of Apple’s incorporation Capitalization, the biggest company by the market value of the world. Well, that’s pretty huge and we can’t seem to stay calm if that’s the situation.
But let’s dig deep into these claims and find out what was his reasons to come to this conclusion of Bitcoin price reaching $100,000+ by 2021?
Well, the anonymous analyst has made these claims based on his long-term prediction of the Bitcoin demand and supply model. He thinks that Bitcoin is fixed in supply as there have been many claims made in the past that there is only limited Bitcoin available. So, he believes by 2021 all of this bitcoin will be mined and hence the demand to supply ration will be very irregular.
Hence, the Bitcoin supply will keep on decreasing over time and hence the demand will increase considerably. This will bring a swift rise in the price of Bitcoin.
So, his calculation is not just for this year but he has made long-term assumptions about Bitcoin. To know more about Bitcoin visit Bitcoin Rush.
He thinks by 2024, Bitcoin’s market value will be as high as $5.5 trillion which perhaps will be the largest in the world and the price of BTC will be as high as $288K.
So, it seems like 2021 is going to be a major year for Bitcoin and we have to sit and wait for what the future entails. So far, this year Bitcoin’s price has increased from $8,700 to $15,500 so the future certainly looks promising and bright.