Will Bitcoin be Trade at $318,000 by End of 2021?

[Alert31]

Bitcoin now reached $18k value which is near at the last ATH value. However there are some people that predicts more than the value of last time ATH.

Citibank Executive Says Bitcoin Will Trade at $318,000 by End of 2021

 Citibank Group’s Global head of Citifxtechnicals product, Tom Fitzpatrick expects to see the price of bitcoin peaking at $318,000 by end of 2021. Although he concedes that his prediction might seem improbable, Fitzpatrick argues that such a surge will still be the weakest rally for the digital asset when compared to other assets such as gold. He also adds that bitcoin is all about the”unthinkable rallies followed by painful corrections.” Bitcoin will see huge price swings before finally settling at the predicted price suggests Fitzpatrick.


The Citibank boss cites some of bitcoin’s key attributes which include the digital currency’s “limited supply, ease of movement across borders, and opaque ownership.”

https://news.bitcoin.com/citibank-executive-says-bitcoin-will-trade-at-318000-by-end-of-2021/




Is there any truth in what Citibank Executive said? What  do you think guys?

[fauzan123]

Bitcoin now touch $18k value which is near at the last ATH value. However there are some people that predicts more than the value of last time ATH.

Citibank Executive Says Bitcoin Will Trade at $318,000 by End of 2021

 Citibank Group’s Global head of Citifxtechnicals product, Tom Fitzpatrick expects to see the price of bitcoin peaking at $318,000 by end of 2021. Although he concedes that his prediction might seem improbable, Fitzpatrick argues that such a surge will still be the weakest rally for the digital asset when compared to other assets such as gold. He also adds that bitcoin is all about the”unthinkable rallies followed by painful corrections.” Bitcoin will see huge price swings before finally settling at the predicted price suggests Fitzpatrick.


The Citibank boss cites some of bitcoin’s key attributes which include the digital currency’s “limited supply, ease of movement across borders, and opaque ownership.”

https://news.bitcoin.com/citibank-executive-says-bitcoin-will-trade-at-318000-by-end-of-2021/




Is there any truth in what Citibank Executive said? What  do you think guys?

It seems too far if we are targeting bitcoin to strengthen up to $ 318k by the end of 2021, because as we know currently bitcoin movement is indeed in a very positive condition. Because many maybe one of them apart from cooperation with paypal as well as a vaccine that looks more positive in order to prevent the greater transmission of the corona virus is also a separate impact for the strengthening of bitcoin.

I think at least bitcoin should come back to break the $ 20k price first to repeat whether it can break back into the $ 35k price later, of course this would be better to focus on first I think.

[bitcampaign]

nothing is impossible for bitcoin, usually I see a lot of big people doing predictions correctly, so it's not that Citibank Executives are right either, we still appreciate every person's analysis, but actually everyone seems to know that bitcoin is always like that every 4 years, I have heard this on almost all social media and analysis of some crypto experts, if it were easy to touch $ 20k, I think it would be easier to touch above $ 300k

[ThomasHouston]

I've heard such predictions before, they need more FOMO on the market, throw their bags and start all over again. History always repeats itself.

[barto123]

I think it's entirely feasible, there's a lot of easy money in the world to be converted into hard money - Bitcoin.

Predictions aside, how long before the US dollar (& other major currencies) see massive currency devaluation?

Bitcoin's value in dollars is essentially infinity over the long-term.

Bitcoin has no top, fiat (dollars, euros, yen etc) has no bottom.

Yes I'm bullish AF.

It's about to get real.

[sunsilk]

That is bullish coming from a banker and appreciates the potential of bitcoin. But that prediction is making me remember about those predictions that was brought early 2018. Those predictions said that year was going to be a good year yet we've seen that it's a bearish year.

At the end, it's still words and speculations as bitcoin is living through it. Let's get the appreciation coming from the guy but even without his words, we'll see bitcoin reaching a new high.

[Vaskiy]

The market of bitcoin has moved high from a valueless token to an ath value above $20000. Now the price is close around $18000. What we're talking about is bitcoin $318000. Bitcoin has got the potential, and the growth it has experienced over the years assure the same. To reach 0 - $20000+ it has taken around seven years of time, and to $318000 in an years time is really a hard pick in my opinion.

[royalfestus]

NOthing is impossible with the height of price in 2021 but conservative prediction will help to take profit at a good price. A larger percentage of traders did not expect the 20k ATH in 2017 and when it came they were surprised and expecting more. Most of the top prediction are from beneficiaries of 2017, they know what bitcoin can do. This time we dont have the ICO that can raise $300 million dollar from a project. ATM startup are still struggling to raise fund and old coins are not getting back to the ATH. Narrative is changing and 5x-10x from $20k is only the possibility of most conservative mind

[exstasie]

Is there any truth in what Citibank Executive said? What  do you think guys?

Absolutely. $300-350K is right in the range of "normal" based on extrapolations of past bubbles.

People who are too focused on metrics like market cap, or the historical logarithmic trend, think such valuations are impossible. And there are many such people on this forum. I think they're in for a rude awakening come late 2021 or 2022.

[The Cryptovator]

Although it's possible, but it's a really unrealistic prediction IMO. We know everything would happen anytime with Bitcoin, but that kind of production would lead to a lot of loss by creating a FOMO. The same prediction we have seen in the last bull run in 2017. As a result, many new investors like me lose their portfolios. Because based on some unrealistic predictions, we thought Bitcoin price will raise more and had waited for that. But eventually, we regret it. My personal belief that Bitcoin wouldn't trade $318,000 by end of 2021. Just be realistic and follow the trend.

[pooya87]

Citibank Group’s Global head of Citifxtechnicals product,

once again bitcoin price is making a move and once again any newbie who has created a crappy service is advertising it by making a prediction about future bitcoin price. they also hype it up so that the news sites report them better and get more clicks (a win-win situation for both the crappy service and the crappy news site). granted this is an old group with new service but it is all the same.

[asriloni]

A wild prediction that came from the big name. I won't take it as a prediction as he is not even expect in the cryptocurrency. that doesn't make sense to predict bitcoin will reach such rate consider bitcoin is not yet even passed ATH. Is that another joke? I wanna try to talk about this when bitcoin has surpassed 100k at the end of this year may be the second quarter of next year.
It looks so funny to see he doesn't even try to call a sense rate for bitcoin to be used as the future target.

[rhomelmabini]

If new ATH do happen this year or earlier the next year I don't think that's a possibility by end of the year 2021 as it could be a bearish scenario, just my two cents. FOMO is a good thing but isn't it too wild and it also comes from a banker, can he extend it? LOL!

[Dave1]

Is there any truth in what Citibank Executive said? What  do you think guys?

Just like you and me, it is just a wild and educated guess from someone from Citibank. And since they have embrace bitcoin or at least very positive about it, I wouldn't surprised by this statement.

In any case though, you may want to get this very interesting thread by @fillippone, Stock-to-Flow Model: Modeling Bitcoin's Value with Scarcity, this model might give traction to his prediction.

[maxreish]

Why not? If by the first months of 2021 it shows massive pump to $100k then it is easier to reach that high.

Although, it is too early to jump up off to $300k by the end of 2021 but the thing is, bitcoin may have a good potential to increase it's price to unexpected level. Let me be honest too, Citibank is trying to make some FOMO. It's how crypto industry reacts on this prediction.

[Lucius]

Anyone can play with speculations, and the fact that such statements come from someone who represents the bank may give this statement some weight, but no one should take it as financial advice. I personally hope that in the next 2 years the price of BTC will reach six digits, but I am not obsessed with it and I will not consider it a failure if it does not happen.

I have nothing against Fitzpatrick being right, because in that case next year at this time instead of rain, snow and winter I could enjoy some exotic island with lots of sun, sandy beaches and a few pretty girls

[ethereumhunter]

Why not? If by the first months of 2021 it shows massive pump to $100k then it is easier to reach that high.

Although, it is too early to jump up off to $300k by the end of 2021 but the thing is, bitcoin may have a good potential to increase it's price to unexpected level. Let me be honest too, Citibank is trying to make some FOMO. It's how crypto industry reacts on this prediction.

Not that easy because we know that bitcoin will not get the pump quickly. But we have the opportunity to see the bitcoin price will increase higher, and we might see $100k as the highest price. But to go to that price, we need to be patient, and we will have many corrections that will happen to bitcoin before the price can increase. But I am still unsure if the bitcoin price will be trading at $318k by the end of 2021 because that price is too high to be reached in less than one year.

[darewaller]

I think $318k is an exaggeration I would say because getting your hopes high is one thing and being blind by an article or prediction is something else. We all know what kind of predictions John Mcfee used to make and even made statements to eat his dick on national TV for which someone even made a website dedicated to that event - http://dickening.com/

So, I would say that $318k is too much of an ask but for sure we can talk about 40-50k by the end of 2021 and that is realistic although if we get stuck on a price like we got stuck around 10-12k it might take a while to reach even 50k but with current movement patterns, I am sure we will have 50k reached or at least touched by the end of 2021.

[Inkdatar]

Anyone could give their prediction about bitcoin, if this year ends will reached a new all time high we can expect a good movement trend in the market next year.  About the assumptions of price is too much high and were not certain what will happen by year 2021. Many of us users of course wanted to see bitcoin in another breaking record of price so many users express their thoughts on the price to reach next year.

[Reid]

Wow. Some executive in a known bank is that optimistic or just crazy? 
That is way too far.
Even in 20k-30k, it will difficult to maintain already.

Panic sellers. Oh, when you are in that position where you are okay with the profit, you will sell without hesitation anymore.
Traders. Maneuvering the price to make more money. They will need to sell at some point and buy back to another point.