It's official, we have finally reached the 4th quarter of the year with it being October 1st. We are in the midst of a bull run, and everyone knows that the 4th quarter of the year is usually when prices go parabolic during bull runs. There are some very high-price predictions out there that would make any of us thrilled if they would actually be reached. One thing is for certain, the end of this year should be exhilarating and also potentially change many of our lives!
Usually I write about serious topics about bitcoin and how those situations affect BTC and where it is going. But, today I'm going to be talking about a topic that is a little more fun and light-hearted; my end of the year price predictions. Yes. I'm going to put my flag in the ground and tell you how I think things will turn out. Please keep in mind that I am not a financial expert or even proficient in analyzing the charts. Just using my knowledge of the crypto markets, the world events, and past performances as an indicator for where I believe we are heading. But I could be completely wrong.
Before starting, I would like to mention that this year has been unlike any other year since I've been in cryptocurrency. There have been number extreme moments of joy or highs, and also extreme durations of negative or fear. All throughout a bull-run. We have had to fight off more FUD attacks than have ever been thrown towards bitcoin, DeFi, ETH or crypto ever before. For some people this FUD has shaken their confidence, but I have been constant in that these FUD attacks have helped to grow my belief in crypto even more. Remember back to 2017, there was real debate if Bitcoin would be able to survive the blocksize wars and the fork with Bitcoin Cash. But it survived. Now we have had fought against bans from China, a huge drop in mining power, ECG FUD, American crypto regulation FUD, Tax FUD, Elon FUD, and the list goes on for what seems like forever. But bitcoin fought off all of them and appears to be going towards meeting it's all-time high price again in the nearish future. It has become quite strong. All of these battles have made bitcoin strong enough that it could evolve into a potential world reserve asset in the future.
But without further delay, let's get into my price predictions for my favorite coins by the end of the year.
Chainlink
Chainlink is a coin that I feel many people have been overlooking or quite frankly, forgetting about recently. It has slid all the way down to #15 in-terms of market cap. In fact, it hasn't done very well during this bull market at all. Remember, during the DeFi summer in 2020, Chainlink exploded to a price of $20. But has since evened out, even during the bull run and sits at a price of about $24. Before the bull run there were YouTubers that were declaring that chainlink was the next ethereum and would be going to a price of $1,000 during the bull-run. That is now impossible. But, I do see a resurgence coming back around for DeFi, especially with the recent crypto ban in China and DeFi taking off there significantly. When DeFi booms, so does chainlink. By the end of the year, I see chainlink hitting a a price range of $70-100.
$70-100
Polkadot
Polkadot is something that I have been a big fan of for quite some time. There is a lot to like about it, especially that 12% staking interest you can get for it. But, many people are not seeing that big news is on the horizon for Polkadot; and this news is that parachains will soon be coming to it. Something that pumped Polkadot's brother chain, Kusama, when it came to that chain. If you're unaware of parachains, basically this allows you to lock up your DOT in a DOT ecosystem coin that is vying for one of the parachain slots, which are limited. If that coin wins the slot your DOT will be locked up to that protocol for a duration of time, but you will be given or airdropped that said protocol. After the locked up period ends your DOT will be returned to you. To put it simply, it's like investing in ICO's, but your initial investment is always returned to you. Trust me, this coming to DOT will move the price. I'm expecting a DOT price of $150 or more by the end of the year.
$150+
Solana
Solana is a protocol that I have been going down the rabbit hole and liking quite a bit recently. I find it a good hedge for someone who also has invested quite a bit in ethereum. They are similar in many things that they are striving to do, except that Solana can already do them, while ETH is hoping to do them. I do have full confidence that ETH will be able to successfully upgrade in the future though. If you have been paying attention to the crypto markets during the summer, you will know that Solana pumped a lot! But the question is if it already reached its limits and can't go any higher? In my opinion BTC and ETH are the two blue-chips in crypto, and right now Solana has a chance to become number three. This means I think it still has a lot of room to move upwards. As long as the chain is able to continue to add more node validators this chain has very high potential. By the end of the year I'm expecting a price in the range of $500-600.
$500-600
Ethereum
Ethereum is the chain that I have the most difficult time trying to predict the price. There are a lot of factors that could come into play; such as if ETH 2.0 is able to be merged before the end of the year or not. Either way, as BTC moves, so will ETH and much faster. Recently, some people have been having their doubts about the future of Ethereum. Usually those people are fans of either Cardano, Solana or Avalanche. But I think having these rivals in the market is a great thing for ETH and will help accelerate the timeline for ETH. Having competition is always a good thing. It may seem outlandish to most, but I think ethereum will reach a price point of $10,000 or more before the end of the year.
$10,000+
Bitcoin
This will be a very exciting time for bitcoin and I believe the stampede rush towards buying it this fall will be unlike anything we have seen before. There are a lot of external forces; that is just one of them is announced would nearly instantly push bitcoin up to $100,000. Some of these would be an American Bitcoin ETF, a large country or other countries adopting bitcoin as legal tender, large companies such as Amazon/Apple/Google/Microsoft adopting bitcoin and the list goes on. Those are just external forces. Remember that without those, bitcoin by itself usually does very well during these final months of the year. I believe that an ETF will soon be announced pushing this bull run's gas pedal all the way down to the floor and the price will respond quickly. I believe that bitcoin will reach a price point of $150,000-200,000 by the end of the year. There is now only three months left for this time, and it is time for bitcoin to start going up.
$150,000-200,000
Again, these are just my own personal predictions and they could all end up being completely wrong. But it is really fun to think about what just might happen. One thing is for certain; if the bull run works out anything close to this, a lot of people's lives will have been changed financially forever.
How about you? What are you price predictions for the end of the year?
As always, thank you for reading!
Some of these are pretty lofty predictions. Let's hope you are right. I may check out Polkadot.