Finder.com, a website operating in 83 countries, recently released a report on Bitcoin’s quarterly price forecast for 2021. Respondents are very optimistic about the future value of Bitcoin. Finder’s first quarter forecast research shows that Bitcoin is expected to reach six figures this year.
Bitcoin supporters and crypto enthusiasts believe that the cryptocurrency economy will continue to flourish. Finder asked 35 financial team members for their expert opinions on how high BTC will rise this year and when the bull market may end.
Finder interviewed Samantha Yap, founder and CEO of YAP Global, Tony Guoga, CEO of Cypherpunk Holdings Inc., Sagi Bakshi, CEO of Coinmama, Lex Sokolin, chief economist of Consensys, Vladislav Ginzburg, CEO of Blockparty, and more cryptocurrencies Executives.
Among the 35 panelists, nearly half (48.48%) stated that “it’s time to buy BTC”. 39.39% of participants pointed out that people should hold and 12.12% said that it is “best to sell”.
In the panel discussion this quarter, Morpher CEO Martin Fröhler and Cake Pte Ltd CEO and Director Julian Hosp provided the highest Bitcoin price prediction. Executives believe that the price of Bitcoin may reach “$250,000 and $200,000.”
After sharing this prediction, Fröhler said, “Bitcoin is the ultimate long-term store of value and will gradually replace gold and bonds.”
Josh Fraser, co-founder of Origin Protocol, predicts that Bitcoin will reach $150,000 by the end of the year. Fraser said that everything depends on supply and demand, and emphasized that “demand will only continue to increase, while supply will decrease.”
More than one-third of people believe that the bull market will end in the fourth quarter, and nearly one-third believe that it will end in the third quarter.
Rouge International Managing Director Desmond Marshall said, “This scarcity will drive the price of Bitcoin to rise, so that people will hoard Bitcoin like gold, and people may refuse to sell it.”
Respondents believe that a large-scale hacking attack is likely to occur in 2021, and 26% said it is very likely.
However, so far, the optimism in the field has pushed up the price of Bitcoin. Simon Trimborn, an assistant professor at the City University of Hong Kong, said in his research that this trend will continue to drive Bitcoin’s rise.
Trimborn wrote: “Developments such as the listing of Coinbase and the company’s investment in Bitcoin are likely to push up prices.”
Although Bitcoin has continued to rise in the past six months, about 51.52% of people still said that Bitcoin is still undervalued. Twenty-four percent of respondents said that they think the value of Bitcoin is overestimated.
Sarah Bergstrand, chief operating officer of Bitbull Capital, said that one day the price of Bitcoin will reach $1 million per coin.
The Finder report emphasized: “She is not the only group member to give this prediction.”
The two panelists agreed with Bergstrand’s million-dollar forecast. Coinmama CEO Sagi Bakshi and LMAX Group cryptocurrency strategist Joel Kruger also predicted that the price of Bitcoin will reach $1 million in 2025.
The report pointed out: “Institutional investors currently have the smallest market share (25.07%). Retail investors (28.23%) and whales (46.70%) are close behind.”