The rise in the BTC price was a surprise to many people who expected a slow rally in the long term rather than the accelerating scenario that Bitcoin initiated at the end of 2020.
Still, many are anxious, waiting for it to drop, and believe that the Bitcoin price will collapse in 2021.
Some experts have shared what they think will happen to the Bitcoin price in 2021.
Here are some pessimistic and enthusiastic opinions about the Bitcoin price in 2021.
Bitcoin price in BTC will collapse in 2021:
Chad Elwartowski, founder of "Seasteader Ocean" and an early adopter of Bitcoin, said about the Bitcoin price in 2021, saying:
The BTC price will collapse in 2021.
It is possible that after the price reaches 50-100 thousand dollars, it will begin a prolonged 3-year collapse.
We will see Bitcoin in the $ 10-20K range before it starts its next line up.
Bitcoin will continue to break records:
While Liam Hunt, a financial writer for Goldraguide, says:
There is no doubt that Bitcoin and other cryptocurrencies will experience erratic and unpredictable volatility in prices in 2021, a feature of this asset class.
However, the outright collapse in prices that would bring the BTC price down to 2018-2019 levels is almost out of the picture.
For Bitcoin to collapse 80-90%, many institutional investors who recently added digital currencies to their portfolios and giveaways will require to withdraw from their positions.
At the moment, there is no reasonable explanation as to why they would do this.
Today, investors know that Bitcoin is a mature and flexible asset.
During the bear market of 2020 at the start of the pandemic, bitcoin crashed by 30% in 4 days as investors switched to cash.
Record Alpetkoan lowest level at 4107 dollars on March 13 , before rising again to its highest level before the collapse of around $ 9,900 mark on May 6.
Last year's experiences proved that Bitcoin is a uniquely strong and prosperous asset, capable of bouncing back from deep losses in a period of weeks.
Bitcoin proved it couldn't go to zero, despite the absence of a central guarantor.
I expect Bitcoin to continue this phenomenon in 2021, a year that will likely include price shocks caused by external economic factors and public health developments, followed by rapid corrections that together will represent a long-term upward path for prices throughout the year.
In the past year, cryptocurrencies have won the approval of institutional investors who feel they can no longer ignore their value, such as JP Morgan, PayPal, Fidelity, and Square, as well as Wall Street billionaires like "Paul Tudor Jones" and "Stanley Druckenmiller."
With the regulatory environment becoming increasingly welcoming to Bitcoin and the influx of new institutional funds seeing the asset as a viable alternative to gold, it is possible that Bitcoin will block anything resembling a total meltdown in 2021.
There is much more optimism in cryptocurrencies now than pessimism, and this applies to retail investors and regulators as much as it applies to institutions and banks involved in the field.
Ed Nookidi, CEO of RedSwan CRE, said:
Over the course of the next month or two, Bitcoin's price will continue to fluctuate, as it has been since the start of 2021, without any cause for concern.
But everyone needs to monitor the trading of speculators and other digital currencies entering the market.
Many of these digital currencies will have specific ownership functions other than payments.
Coins like ETH and Facebook are likely to see an increase in demand due to the use of a particular tool, which will affect Bitcoin's demand and growth.
Once we enter in April or May, I wouldn't be surprised to see Bitcoin drop below $ 19,000 , but the cryptocurrency market capitalization would continue to rise above $ 1.5 trillion.
While Brian Martucci, a financial expert and specialist in economic crises, believes:
Bitcoin has been and will remain a very volatile instrument not for risk-averse investors.
Accordingly, anyone planning to test the Bitcoin market in 2021 should be prepared to lose money.
In other words, anyone planning to invest in BTC in 2021 should not invest more than they can afford to lose.
We recommend that novice BTC investors start by investing in a bitcoin investment fund or index that does not require a digital wallet.
When investors feel more comfortable with these tools, they can add exposure or consider branching to their BTC direct investments.
Regarding Bitcoin's price movement in the coming year, time will tell.
Ongoing political instability and economic uncertainty around the next phase of the pandemic should support Bitcoin pricing in the near term, but that account may change as the acute phase of the epidemic shrinks.
Michael Terpen, founder of Transform Group and co-founder of BitAngels and Aspire Technology, made his case and informed about Bitcoin's upcoming movement by saying:
The supply shrinking economy indicates that the bitcoin price should reach an all-time high by December.
There will be corrections throughout the year, but accidents tend to happen in slow motion and should not reach their cyclical lows until early 2023.