Price forecasts for Bitcoin and Ethereum: should we wait for BTC at $160K and ETH at $35K in 2021?
Indeed, what was supposed to be a strong driver of the crypto market turned out to be a big obstacle for investors. The government of El Salvador has encountered a number of technical problems with the preloaded Chivo bitcoin wallet.
This wallet was preloaded with $30 in Bitcoins for each citizen of El Salvador who registered to use the wallet. Not only did about 70% of the country’s residents oppose this approach to a decentralized asset, investors did not seem to like the fact that the wallet was disabled shortly after launch.
And it was disabled for a banal reason: Apple, Samsung and Huawei stupidly banned it, disabling the servers.
If the fact that it is now possible to pay in McDonald’s at McDonald’s in El Salvador is a victory, then this is an achievement!
However, these recent events have provided investors with an example of the volatility of the crypt, and many experts call yesterday’s price dynamics a sudden collapse. And nothing changes here. The slightest pullback — the collapse and collapse of the market.
Today’s continuation of this bearish trend suggests that perhaps this was not a one-day event. Indeed, according to our indicators, every dozen cryptocurrencies, with the exception of Solana, have fallen over the past week.
But, the long-term prospects for Bitcoin remain good, despite this volatility.
The CEO of the Celsius Network, Alex Mashinsky, gave an interview to Yahoo Finance Live, and outlined his optimistic forecasts for Bitcoin. He provided a range of $140,000 to $160,000 per coin, depending on where he thinks the Cue Ball will get to this year, or in the first quarter of next year.
This optimism about the price of Bitcoin seems to be based on the long-term prospects of the cryptocurrency as a whole. It is still unknown where the prices for military-technical equipment will eventually go.
ETH — $35K
The big forecast of prices for Ethereum from Standard Chartered does not go beyond the possible
Ethereum can no longer be labeled as Bitcoin’s little brother. These two currencies have completely different directions of movement and attract different communities. Apart from the fact that Ether (and all other altcoins) are chasing the huge value of the Cue Ball, these two assets have nothing much in common.
But one bank today says that Bitcoin still affects the values of Ethereum, despite their respective differences.
Standard Chartered is a London-based banking and financial services institution. It is also one of many banks that are dipping into cryptocurrencies, trying to get some profit from the rapidly developing new industry. The bank has deployed its own cryptographic research team, and this team, as expected, has been closely watching the two giants of the digital currency.
The bank has published its price vision for both Bitcoin and Ethereum. The team of experts says that Bitcoin can reach $100,000 as early as next year, and in the long-term estimate — $ 175,000.
In addition to the bullish bet on Bitcoin, the bank is also making a significant bet on Ethereum. He predicts that ETH could be worth up to $35,000. The condition of this forecast is that it will not reach this impressive level unless Bitcoin earns 175,000.
This corresponds to the same way of thinking that investors are used to when thinking about cryptocurrencies: the growth of the market depends on the will of Bitcoin before on any other fundamental value.
Whether you agree with this opinion or not is up to you. But in terms of forecasts, Standard Chartered is teaming up with a lot of other institutions betting on Ether. According to a recent forecast by Bloomberg, ETN will reach $5,000 in the near future.
Official site — https://coinmarketrate.com