2021 Bitcoin Predictions by 5 Crypto Leaders (Part 1)

Justin Sun, Roger Ver, Tim Draper, Adam Draper, and Eric Richmond of Coinsquare provide insights into the future of Bitcoin for 2021.

We’re just 15 days into the new year, and it already feels like the seventh season of a pretty bloody hour-long HBO drama. (I’ve already mentioned which one.) Angry mobs in the Capital building, conspiracies and betrayals, most of us sheltering in place just trying not to get the virus.

Meanwhile, Bitcoin’s b-plot is kicking off.

At the end of 2020, Bitcoin (BTC) increased fourfold in price – leaving some to wonder if the gains would follow a familiar 2017 plot when BTC would exceed $ 20,000 and then lose two-thirds of its value.

Ask the Experts

To point us in the right direction in 2021, I have surveyed some of the most prominent leaders, founders, investors, evangelists and innovators in the field of blockchain and crypto to share their insights on the Bitcoin trajectory for the year. Here are their long edited responses.

Founder Tim Draper Draper Associates

“There is nothing consistent when one technology replaces another. As Bitcoin clicks government funds and the banking system, there will be a lot of fits and starts. I stand by my prediction of $ 250,000 by the end of 2022 or early 2023.

As organizations move from thinking it’s crazy to imagine a new currency to recognizing Bitcoin as a “must” for every portfolio …

While I am very interested in Bitcoin, the currency leader, ETH and XTZ and others have prepared a new path for smart contracts and proof of share that will drive currency governance into the future. I like MKR as an insurance company and ANT and JUR as new forms of liquid democracy. I like XRP and BCH because they increase, albeit centralized. I like KEEP for its ability to open up new types of finance. (There are) many others.

Bitcoin has the potential to open up the world and put all employees (virtual at least) on the same platform. Where one Bitcoin is always Bitcoin, and if people are paid in Bitcoin, they know what that means … “

Justin Sun, Founder and CEO TRON and CEO of BitTorrent and Peiwo

“Bitcoin has been one of the major stories of 2021 everyone and their grandmother talk about BTC this year. Doomers, nocoiners, and bears like to use every opportunity to highlight bitcoin’s death or to match crypto to the bubble dotcom In BTC, in my opinion, BTC’s recent correction reflects a healthy market with active traders and investors BTC still has a ways to go in terms of price growth.In December 2020, a leaked Citi report revealed that one Senior bank analysts think bitcoin could potentially top $ 318,000 by December 2021. While BTC’s price will be anyone’s guess at the end of 2021, we know for sure that the bull market is here and it looks like its be here to stay.

Historically, we have seen the altcoin season begin as Bitcoin achieves record highs. Notably, when BTC broke its all-time high in the last two bull circles, altcoins have usually rallied behind it … Altcoins like ETH and LTC don’t need me to cheer on their behalf and have already see significant gains during this bull run. However, with trivial transaction fees and a rapidly expanding DeFi ecosystem, TRON is rapidly warming up as a hot bed for DeFi innovation.

The average purchaser of crypto during a bull run has little or no grasp of cryptonomy, the impact of regulation, institutional investment, consumer sentiment and the global economy affects BTC price movements. This is enough to scare most new investors, one thing to remember is that the crypto market is still moving towards its equilibrium and we are certain to see pumps and payoffs … “

Roger Ver, Bitcoin Evangelist and Angel Investor, CEO Bitcoin.com

“… In terms of its price, I see no reason why it couldn’t hold out for so long. It has the brand name and if you talk to people on the street, nobody outside small cryptocurrency bubble has never heard of the scaling arguments or that Bitcoin is no longer p2c cash.They are buying on its past potential, its name, and its excitement about making money.And of course, to the extent that it retains its merits as money, people want it More importantly, many of the grading problems that could effectively limit the number of people who may be involved with BTC at any one time have been “resolved” by central services like PayPal, Cashapp, and exchanges.

I think there will be a growing demand for cryptocurrencies like Bitcoin Cash (BCH) which can actually handle huge traffic on the chain, especially with everything that is going on in the world. And when I talk to big investors, many of them start to look at Bitcoin and ask “can it really achieve the same kind of earnings as it has in the past?” I think many of them are skeptical as to whether the price will rise at the same rate and they are going to be looking for the next thing to invest in because there is little reason to hold Bitcoin unless the price increases.

… Many of the influential developers and companies today are unable or unwilling to see the indirect consequences of Bitcoin limiting rates. For example, a system where scale fees will cost thousands of dollars will have the long-term impact of centralizing funds on single addresses, hurting privacy, and on exchanges, hurting privacy and resisting censorship … Similarly, in the effort to essentially put price controls on the cost of operating a full goal so that everyone can run one, the resulting high fees have effectively limited the number of people who will run one because they cannot afford to negotiate on the chain in the first place. You might actually end up with more goals overall, even if they cost a lot more if the fees were low so everyone could engage in economic activity on the chain Bitcoin.

This is what people are missing out on, that seemingly short-term technical development decisions (who don’t want cheaper prices ?!) have profound and damaging economic consequences that could take decades to realize … “

Adam Draper, Co-Founder and Managing Director of Aberystwyth VC boost

“My 1 BTC is still worth 1 BTC. That other currency, US Dollars, is still falling.

At the end of the day, the value given to the end user is the only thing that matters. If the Alt-Coin season comes that is because the value is starting to be real. BTC already has the value feature feature that is extremely useful (and) organizations flock.

Bitcoin gave us a shortage online. We are in the skeuomorphic phase. We learn where mathematical proof is useful instead of third-party trust. The opportunity is not about the focus on technology, it’s about enabling new financial products and giving access to value to the rest of the world. The focus is on decentralizing the internet – choose there, and you’ll find the most opportunities. I’m excited about Unstoppable Zones and others in that space. “

Eric Richmond – CEO & VP, Legal at Coinsquare

“I’m anticipating a steady climb for Bitcoin. I predict swings in the market and the price may come back down to the US $ 20K range or less, but the overall trend line will be for year is positive.

People saw what happened in 2017 when they put faith in projects that were nowhere near alive. It won’t be the same frenzy across as many projects as it was in 2017, but a few Altcoins will thrive in 2020 – especially those with real usability, like Ethereum.

Corporations, institutional investors, family offices, and hedge funds all want Bitcoin to diversify their portfolios. With so much demand for Bitcoin – institutional and retail – the hype is justified. “

Regulation is the biggest factor. In the long run, this will be positive for BTC, but there will be bumps in the road, like the recent FINCEN guide. “

Collection

If Bitcoin’s incredible rise is comparable to 2017, the way experts talk about crypto has a noticeable change in tone. The vision of decentralized global currency and transactions is consistent, but retail and institutional investors’ reasons for entering the crypto market are more about triggering a deflationary asset and less about decentralization, autonomy and privacy – and the goal of mainstream adoption is much closer on the horizon. White papers and use cases have become real consumers and the global events including the pandemic and weak US economy have lent more relevance to Bitcoin alone.

Bitcoin is the flag leading the charge to the mainstream global audience. What remains to be seen is the adoption rate now that die-hard crypto enthusiasts have to share their innovation with the world.

Thank you to everyone who took part. I will share more responses in a second installment of the article. – Justin

* Header image by Three shots o Pixabay

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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