There were literally price predictions for Bitcoin against each month and after a certain time it was expected that Bitcoin will be hitting six digits, yet it seems there will be a delay in Bitcoin achieving the six-digit figures. Now those who were predicting a US$ 100,000 price for Bitcoin at the year-end are now acknowledging that it is impossible that the prediction is going to be true.
Bitcoin analysts, experts, and advocates had predicted that before entering into 2022, Bitcoin’s price would be in 6-digits i.e. above US$ 100,000. Even the plan called “Plan B” also predicted 6 figures against Bitcoin’s price at the end of 2021. There were several month-wise predictions made in this Plan B. The plan predicted that for August price would be US$47,000, for September US$43,000, for October US$63,000, for November US$98,000, and for December US$135,000.
However, for the months of August till October 2021, each prediction was found to be spot-on. But the exception came in the month of November in which the predicted price for Bitcoin was US$ 98,000. Instead of following the predicted price trend, Bitcoin’s value dropped enormously and went as low as 50% of the predicted value. The chances of Bitcoin fulfilling the projected price as contained in Plan B for the month of December are almost to none. There is a huge difference between Bitcoin’s current price value and the December price prediction of US$ 135,000.
Bitcoin’s present market value is over US$ 50,500 and for achieving December prediction, Bitcoin will have to cover a long ground. It means that Bitcoin will have to seek a surge of approximately US$ 85,000, which looks like an impossible task.
Earlier in the month of October 2021, Javier David of Yahoo Finance too had said that Bitcoin’s price of US$ 100,000 is not farfetched. He too had then agreed that the six-digit figure for Bitcoin is due to take place before year-end. Matt Hougan, CIO of Bitwise Asset Management, too had predicted the US$ 100,000 price range for Bitcoin in the month of December. Hougan however also commented on Ethereum as well and claimed that Bitcoin would be the winner of 2021 amongst cryptocurrencies.
Now the suggestions of most of the Bitcoin advocates have become upside down. David, Hougan, and Lee are all acknowledging that it is impossible for Bitcoin now to even come close to November’s prediction. However, their spirits are high and they believe that in the year 2022 Bitcoin will achieve the desired target.
The majority of crypto analysts are of the view however that US$ 100,000 value for Bitcoin is achievable in 2022. However, for achieving that target Bitcoin will need whole 12 months. They believe that the 2022 year-end target of Bitcoin would be to excel above US$ 100,000 value.
