Bitcoin Price Prediction: Analysts and Spectators Optimistic About a $100K BTC Price Tag in 2021
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As Bitcoin struggles to maintain an upbeat status, many proponents and spectators remain firm in their $100K per BTC belief.
Over the past months, the industry has seen several prominent personalities align with the price prediction that Bitcoin could reach a six-digit price tag before the year runs out.
Recently, behemoth financial institution Standard Chartered predicted in September that the price of the benchmark cryptocurrency could reach $100K by year’s end of early 2022. Also, financial data provider Investing.com recently hosted a discussion on the feasibility of BTC hitting a six-digit figure per unit.
Commenting on the trend, Yahoo Finance contributor Javier David, an editor “focused on markets and the economy,” stated recently that “suddenly, a bitcoin move to $100K doesn’t seem so farfetched.” David added that “bitcoin HODLers are looking awfully prescient these days” and that it would be unwise to rule out the possibility of BTC touching $100K. The Yahoo Finance contributor’s editorial further noted that:
“It’s hard to deny that the nascent ETF boom is a milestone in bitcoin’s grudging yet growing acceptance. Is $100,000 — or even higher — the next stop? Don’t rule it out.”
Meanwhile, popular YouTube crypto channel Mmcrypto tweeted that: “It’s much more likely for Bitcoin to hit $100K this year [than] $40K.”
Key Bitcoin Levels to Watch — October 31
BTC is on the precipice of falling off the $60K cliff following its inability to reclaim the $63K barrier. However, bulls continue to fight assiduously to defend this support level, considering its importance.
That said, a fall below this line in the near term could open the bearish path to the $57.5K level once again. However, a successful defense of this level in the near term should help BTC climb back into the $64K – $63K pivot zone.
Meanwhile, my resistance levels are at $61,000, $61,785, and $63,000, and my key support levels are at $60,000, $59,000, and $57,500.
Total Market Capitalization: $2.57 trillion
Bitcoin Market Capitalization: $1.13 trillion
Bitcoin Dominance: 44.4%
Market Rank: #1
