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, Bitcoin could hit $ 100,000 by December 2021, Forex-News, Forex-News
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Bitcoin could hit $ 100,000 by December 2021

, Bitcoin could hit $ 100,000 by December 2021, Forex-News, Forex-News

, Bitcoin could hit $ 100,000 by December 2021, Forex-News, Forex-News

PlanB, the creator of the stock-to-flow (S2F) model, reiterated on November 8 that Bitcoin could reach USD 100,000 by December 2021. The analyst expects BTC to reach the USD 100,000 to USD 288,000 range by the end of next year.

Bitcoin would have to rise around 545% from the current price to break above $ 100,000. Currently, at the time of writing this article, BTC is trading at $ 15,502 with an increasing variation of 1.68% in the last 24 hours. According to our internal crypto online tool.

The S2F model attempts to predict the long-term price trend of BTC by evaluating its offering. That is, it takes into account your fixed supply and the halving of the reward per block. Which reduces the rate at which a new BTC is produced or “mined”.

The theory behind S2F is that as the supply of BTC decreases over time. Inflation will increase continuously. In theory, these two factors could amplify the uptrend of the main cryptocurrency.

JPMorgan Says Institutions Ditch Gold ETFs for Bitcoin

Institutional investors now see the world’s largest cryptocurrency, BTC, as a digital alternative when it comes to sheltering their capital.

In October, the Grayscale Bitcoin Trust (GBTC) flow path became significantly steeper. While the trajectory of gold ETFs remained flat in comparison.

Likewise, analysts noted that this week’s “sharp rise in prices appears to have brought BTC close to overbought levels.” Which could trigger a sell off.

After the US elections, crypto enthusiasts watch the new administration

While some in the community continue to question the outcome of the US presidential election, the media and the Associated Press have definitely called for the race for former vice president and current president-elect Joe Biden.

But with uncertainty out of the way, traders and analysts are now looking to determine what a Biden administration will mean for Bitcoin and the other cryptocurrencies.

And, they seem to have reached a weak consensus that a president who is silent about cryptocurrencies. It is preferable to a president who actively belittles it.

Now, investor Mike Novogratz agreed that a Democratic administration would be good for cryptocurrency. Saying that an ongoing stimulus program would reinforce Bitcoin’s anti-inflationary narrative:

For his part, General Counsel Jake Chervinsky indicated that whoever President-elect Biden appoints to the positions will be more important than the views of the incoming president:

For this, the politician informed first that the former president of the CFTC and designated by Obama, Gary Gensler. Best known for his strict enforcement of Wall Street regulations in the wake of the 2008 financial crisis. He would be part of Biden’s transition team. Gensler has spoken positively about Bitcoin in the past.

Bill Miller Says All Big Investment Banks Will Own BTC

Bill Miller told CNBC that the risks of Bitcoin reaching zero are “lower than ever.” And, he predicted greater institutional investment in cryptocurrency.

Following MicroStrategy’s purchase of $ 425 million in BTC. Square’s $ 50 million investment in BTC and PayPal’s support for the purchase and sale of cryptocurrencies on its platform.

Miller said that all major investment banks and high-net-worth companies will eventually have exposure to bitcoins or commodities like gold. He added that BTC has performed well for the past three, five, and ten years.

, Bitcoin could hit $ 100,000 by December 2021, Forex-News, Forex-News

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, Bitcoin could hit $ 100,000 by December 2021, Forex-News, Forex-News

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