Many experts believe the value of Bitcoin will reach USD 100,000, proving its ability to recover from its worst drops. Twitter commentator Alex highlighted that the figure around USD 120,000 has little value in the long term, but Bitcoin is likely to continue rising.
The value Bitcoin (BTC) remains far from the all-time high it reached in mid-April. Among the many predictions about its price, some analysts believe it will be above USD 100,000.
Defining the price of Bitcoin is complex since the market is the one that determines it.
Of course, predictions are not 100% successful/accurate, but they allow understanding projects better before deciding to invest in them.
Regarding Bitcoin, the forecasts are optimistic as several analysts think it will reach USD 100,000.
Predictions About the Price of Bitcoin by Late 2021
There is an increasing number of Bitcoin detractors due to the news about it this year. Although many expect its price to plummet, many experts believe that an increase is more probable.
Many analysts think that the value of Bitcoin will reach USD 100,000 at the end of the year. That would not be the first time it recovers from a drop to exhibit record numbers.
Renowned analysts like Ariel Santos-Alborna, Meltem Demirors and Mike McGlone agree with that prediction. In other words, Bitcoin has high possibilities for expansion, so its price can rise significantly.
Similarly, a group of bullish investors, like Fidelity, even dare to predict it will reach USD 1 million.
PlanB thinks Bitcoin (BTC) could be worth USD 450,000 by the end of the year. He said that, in the worst case, it could reach USD 135,000 in December.
Predictions About the Value of Bitcoin in December
Even though Bitcoin has had ups and downs in its price this year, it is still the most popular cryptocurrency in the market.
The director of the Bitcoin Colombia Foundation, Carlos Mesa, said several predictive models indicate a price between USD 180,000 and USD 350,000. There could even be a more moderate range between USD 80,000 and USD 120,000 (Diminishing Returns).
In that regard, Twitter commentator Alex highlighted that the exact figure has little value in the long term. However, the analyst suggested that the price of Bitcoin is likely to continue rising a lot.
Analyst Tom Fitzpatrick stated that the value of Bitcoin could reach USD 318,000 in December, although he admitted that figure might seem unlikely.
What Will Happen When There Is No More Bitcoin to Mine
The predetermined total supply of coins is one of the primary characteristics of Bitcoin. Satoshi Nakamoto created its code to contemplate only 21 million tokens, divisible at 100 million Satoshis.
However, nobody knows what will happen when miners extract the last Bitcoin token. However, that will happen more than 100 years in the future, by 2140.
When all Bitcoin units are in circulation, people will only receive rewards for their transactions on the network. In that case, Nakamoto contemplated that the incentive would change into transaction rates free from inflation.
Bitcoin is just a few years old and has a long life ahead. Therefore, many things can happen before the mining of the last token.
As there are currently 18,886,118 BTC in existence, there are more than 2.1 million BTC to mine.
By Alexander Salazar
