Top analyst: Don’t hesitate to buy bitcoin – $300,000 price coming in 2021
Bitcoin is trading at just under $30,000 per coin as 2021 begins – and all indications are that the coming year will be the best yet for the cryptocurrency.
The FOMO has just begun and is currently so strong that Bitcoin Trader any corrections have been minimal and bought out in a matter of days.
Those who continue to wait for a „dip“ to buy should not „sweat“ a few thousand dollars per coin here or there, as according to one of the industry’s top analysts, each full bitcoin will be worth between $100,000 and $300,000 in 2021.
Will Bitcoin rise to $300,000?
Bitcoin is the most significant speculative asset of our time – with the potential to either revolutionise the entire financial system or crash to zero.
Throughout its history, however, the only zeros Bitcoin sees are those added to its price every few years.
Each time a zero is added to the end of the asset’s price, it also marks another phase of acceptance. From $10 to $100 it was mainly for hobbyists and early evangelists. From $100 to $1,000 it was tech enthusiasts and early investors.
From $1,000 to $10,000, it was retail investors and Millennial entrepreneurs. After $10,000, however, institutional buyers completely took over, taking Bitcoin to nearly $30,000 just a few months later.
At this point, a new parabolic phase has likely begun that will not slow down until the asset completely inflates once again and eventually bursts.
Because of the dramatic rise from now to another zero at the end of bitcoin’s price, crypto analyst Willy Woo suggests investors not sweat too much when it comes to the optimal entry price – after all, he says, a few thousand dollars won’t matter if the price per BTC eventually ends up at $100,000, $200,000, and $300,000 in 2021.
To put it more clearly: Woo is suggesting that those waiting to buy lower are at risk of the rocket ship taking off without them, as bitcoin has done for the last three full months.
If you’re looking for an entry to HODL Bitcoin long term, don’t nickel and dime an entry. You’re not going to sweat a few thousand dollars of non-perfect entry when it’s $100k,$200k,$300k in a year.
The main bull phase is here. Capital inflows has gone nuts.
– Willy Woo (@woonomic) January 1, 2021
The price rise from $10,000 to $30,000 has been sharp and fast, and with billionaires and institutions pouring money in who can certainly afford to overspend by a few measly thousand dollars, the opportunity to buy lower may not come soon.
Woo’s bull market modelling suggests that investor activity at current prices is as strong as when Bitcoin rocketed from $5,000 to $9,000. If this is true, then Bitcoin could see another aggressive period of price appreciation in the coming months.
Interestingly, another tool Woo has developed in the past, which he now claims is not that accurate, could signal that a top has been reached, at least in the short term.