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Заголовок Bitcoin Revival Unleashes Animal Spirits and $300,000 Forecast
Дата 20201121

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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Revival Unleashes Animal Spirits and $300,000 Forecast

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Revival Unleashes Animal Spirits and $300,000 Forecast

By

Casey Wagner

November 21, 2020, 8:00 AM EST

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Revival Unleashes Animal Spirits and $300,000 Forecast

By

Casey Wagner

,

November 21, 2020, 8:00 AM EST

Fundstrat dusts off projections of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin rising to $25,000

Citigroup• Объект организация » Организации по алфавиту » Организации на Ci » Citigroup causes a stir with $300,000-plus estimate for 2021

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin: What's Coming in the Year Ahead?

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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mania is back and with it, the return of sky-high predictions from
celebrity crypto fund managers to Wall Street stalwarts of where it can go
next.

The world’s largest digital currency is in the midst of an exuberant
rally that this week saw it cross above $18,800 for the first time in almost
three years. Strategists and crypto fans alike are now rushing to project its
next never-before-seen heights. Outside of the eternal to the
moon” pronouncements from Twitter pundits, forecasts vary from
$25,000 to more than $300,000 by the end of next year.

Here’s what’s aided Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s run: a warmer embrace from
the likes of Fidelity Investments and JPMorgan Chase & Co. is often cited
as a catalyst, as is a decision by PayPal Holdings Inc. to allow its customers
access to cryptocurrencies. Then there is always FOMO, or fear of missing out,
as prices lunge higher. For crypto evangelists, these developments are just
the first junctures on the road to ubiquitousness.

You suddenly have this nearly perfect backdrop that is not only
lending validity to the asset class, but is also really demonstrating its
staying power• Музыка » Музыка Великобритании » Музыкальные Коллективы Великобритании » Рок-группы Великобритании » Queen » Песни Queen » Staying Power,” said Michael Sonnenshein, managing director at
Grayscale Investments, which operates the largest exchange-traded crypto trust
. It’s “once again showing investors no matter how many times it
gets challenged, that it has a way of emerging almost stronger or
demonstrating its ability to be really, really resilient.”

Amid Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s euphoric run this week, Fundstrat Global Advisors
strategist David Grider lifted his price target for the end of 2021 to $25,000
from $16,500, or about another 40% higher than Friday’s closing price.

Grider relies on an internal model that looks at valuations and takes into
account prices for cryptocurrencies. Back in 2017, when Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin rose to near
$20,000 -- its record high -- his framework showed the coin was in an
“incredible bubble.” He says he got that call right and is
confident his model will work this time, too.

History doesn’t repeat, but it rhymes,” said Grider, the
firm
’s head of digital asset strategy. “The audience is bigger,
the market is bigger, it’s a little more institutionalized -- you have
different fields of capital coming in.”

To be sure, Grider’s forecast sounds familiar to crypto veterans.
Fundstrat co-founder Tom Lee had started 2018 with a year-end price target of
$25,000, before eventually abandoning time frames for his predictions in
December when it was around the $3,000 to $4,000 range.

Nic Carter, founding partner at Castle Island Ventures, speaks on
“What’d You Miss?”

Source: Bloomberg

Still, crypto fans are citing plenty of reasons for why it can continue its
run this time around. Famed billionaire investor Mike Novogratz says he sees
“tons of new buyers” amid “little supply.”

Novogratz, who is the founder of Galaxy Digital, hasn’t been shy about
his views on Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and this week said he sees it reaching $65,000. His
comments came via Twitter in response to a question posed by “Game of
Thrones” star Maisie Williams, who asked her 2.7 million followers if
she should invest in the coin. ( She did .)

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin would need to more than triple to reach Novogratz’s target. In
November 2017, the former hedge fund manager had forecast that the coin would
reach $40,000 by the end of the following year, only to see it finish below
$4,000.

The most bullish mainstream projections are those that see Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin reaching
$100,000 or higher. Tom Fitzpatrick, a strategist at Citigroup Inc• Объект организация » Организации по алфавиту » Организации на Ci » Citigroup., made a
splash this month when he said the crypto could potentially reach as high as
$318,000.
In Case You Missed It:

What the Heck Is Hodl? Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Lingo for Crypto Noobs: QuickTake

Largest Crypto Exchange’s CEO Speaks Out on Regulation, Trends

Poker Players Are Enhancing Winnings by Cashing Out in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin

The rise in forecasts has observers warning that the volatility that has been
a hallmark of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin since its debut more than a decade ago is likely to
return.

Edward Moya, a senior market analyst at Oanda, remembers attending a
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта conference in 2014. Back then, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s price was
hovering around $600 after jumping the prior two months. And everyone, he
says, was speculating about how high it might go. The event, and others like
it, reminded him of the early Wild West days of the foreign-exchange markets.

“Cryptocurrencies have come a long way,” he said.

But Moya is skeptical this run can keep going -- he points to the last time
crypto fans overestimated a Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin rally. “Today’s outlandish
calls seem primarily based on momentum mania,” he said. “I doubt
institutional traders will allow Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin to only go in one direction.”

With assistance by Vildana Hajric

Published on November 21, 2020, 8:00 AM EST

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============= Объекты: организации Citigroup


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