• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

This Economic Model Predicts a $200,000+ Bitcoin Price by 2022

Cole Petersen by Cole Petersen
1 year ago
in BTC
Reading Time: 2 mins read
Advertisement

Bitcoin has been on a wild ride throughout the past few days, with bulls sending the cryptocurrency rocketing up to fresh all-time highs yesterday around $19,800 before losing their strength and succumbing to bears.

From here, the cryptocurrency’s price saw a vicious decline that sent it all the way down to lows of $18,200. The buying pressure here was quite intense and sparked a nearly instant rebound.

It rallied as high as $19,400 this morning before facing an influx of selling pressure that slowed its ascent and caused it to see a slight retrace. Nevertheless, it has still been able to post what appears to be a “V-shaped” recovery from these lows.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Where it trends next will likely depend largely on whether or not buyers can firmly reclaim $19,000 and establish this price as a long-term bottom. If it remains stuck below here, it could see continued weakness in the days and weeks to come.

Despite this short-term turbulence, one economic model is still forecasting an incredibly bullish year for the benchmark cryptocurrency.

The on-chain analyst who developed the metrics that this model is premised upon concluded in a recent tweet that $200,000 per Bitcoin by the end of 2021 is a “conservative” prediction and that it could rally even higher.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bitcoin Rebounds from Overnight Lows, But Bulls Lose Momentum

At the time of writing, Bitcoin is trading down just over 4% at its current price of $18,920. This marks a notable rebound from its overnight lows of $18,200 set following the recent rejection at $19,800.

From here, the crypto rallied as high as $19,400 before bulls lost their steam and the crypto’s price broke back below $19,000.

Where it trends next will likely depend fully on its continued reaction to this key level.

Economic Model Forecasts a 10x BTC Price Rise in 2021

One respected on-chain analyst explained in a recent tweet that one of his economic models predicts that Bitcoin is about to see some massive momentum.

He is now pointing to one of his economic models, which forecasts that Bitcoin could be trading between $200,000 and $300,000 by the end of 2021.

“Views on 2021: My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question. The current market on average paid $7456 for their coins.”

Bitcoin

Image Courtesy of Willy Woo.

This prediction does seem to be a bit far-fetched, but if Bitcoin breaks above its all-time highs and sees price action similar to that seen during previous bouts of price discovery, a six-figure BTC could be right around the corner.

Featured image from Unsplash.
Price data from TradingView.
Tags: btcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin

TA: Bitcoin Price Remains In Range, Why The Bulls Need To Take Control

6 hours ago
Extreme fear

Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low

16 hours ago
Bitcoin

TA: Bitcoin Price Moves Higher In Range, $30.6K Still Presents Resistance

1 day ago
Bitcoin

TA: Bitcoin Price Stuck In Key Range, Why Dips Might Be Limited

2 days ago
bitcoin

Eight Consecutive Red Closes: Is Bitcoin Headed For A Recovery?

2 days ago
Bitcoin

Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In

3 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Price Prediction: How Profitable Will These Coins Be? — Dogecoin (DOGE), Parody Coin (PARO), and Ripple (XRP)

May 26, 2022

In Defence of Cryptocurrency – Christine Lagarde, Are You Serious?

May 26, 2022

Gaming Projects You Should Know in 2022: Decentraland (MANA), Enjin (ENJ), and Pac-Man Frog (PAC)

May 26, 2022

These Undervalued Coins Could Be Your Ticket to Being a Millionaire: Polkadot (DOT) and Quitriam Finance (QTM)

May 26, 2022

Chronoly (CRNO) Takes Number 1 Spot at Project To Invest In 2022 Over Fantom (FTM) and Anchor Protocol (ANC)

May 25, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.