Bitcoin will reach $18,000 by February 2021
The Last Futurist predicts Bitcoin’s (BTC) price will reach $18,000 US by February 2021. This will be due to several factors.
The pandemic, a weakening U.S dollar, China’s Digital Yuan, Europe’s declining GDP and the collapse of economic confidence will all lead to a fresh rally by the digital gold. It’s also because a shift in the stock market and towards BigTech stocks is creating too much volatility for the future equity market.
Bitcoin peaked at $13,970 on June 26, 2019. Technically, the previous peak achieved more than a year ago still serves as an important area for sellers. On October 28th, 2020 we reached $13,849.
But the election and a weakening U.S. dollar in 2021 will shift society again to schemes that allow the richer to profit faster and in 2021 that’s Bitcoin. A debt crisis will be partly to blame for that.
Ant Group’s IPO being the biggest in the world and the official launch of China’s Digital yuan are the tell tale signs of China’s rise to global dominance in the economy and technology of the future. This strengthens Bitcoin because it becomes yet another reserve where the ultra-rich can stash their fortunes in a time of unprecedented volatility that 2021 is likely to be.
Due to the lack of stimulus, the uncertainty surrounding the 2020 election, and the sharp rise in COVID-19 cases, the U.S. stock market has dropped steadily. The week of October 26th is likely just the beginning. We could re-test March 2020 lows. The VIX is up to $40 again and this generally favors BTC demand.
Surging bitcoin nears its highest level in almost 3 years, and is set to test a key technical level that could spur a move toward $20,000
However it won’t reach previous highs in 2021, but it could reach steadily above the $15,000 mark, culminating at about $18,00. According to CoinMetrics, the dormant supply of Bitcoin held for at least 1 year has hit an all-time high. The last time Bitcoin investors saw a BTC price that high was June 27, 2019, and before that, January 2018.
Global uncertainty is great for the digital gold Bitcoin. Ant’s $34.5 billion IPO blows past the previous record, set last year by Saudi Aramco at $29 billion. China is the future of payments and blockchain technology realized FinTech doesn’t belong to the U.S. anymore even as its banks attempt to innovate.
The U.S. as the global reserve currency has barely two decades left for U.S. dominance. The world is shifting and the pandemic draws a line in the sand between the past and the future of capitalism.
As the U.S. BigTech payment sector finally turns to Bitcoin, Bitcoin gains in mainstream adoption. Various moves by big players in finance and tech, including Square, PayPal, MicroStrategy, and JP Morgan, have given Bitcoin investors reason for optimism.
This is also because the ultra rich know they can gain even more financial leverage by manipulating Bitcoin’s price up further. This is not because Bitcoin is a good technology or its rumors of decentralization has merit. Any digital asset that can be manipulated like Bitcoin can is fundamentally a ponzi scheme for the rich.
If China’s digital Yuan is the currency of the new world order of a global currency, Bitcoin is the last crypto. With the covid-19 shutdowns of the winter of 2020-2021, the U.S. currency is likely to be significantly depreciated. This will benefit the price of Bitcoin in the short term of the next few months. That is why we are predicting a Bitcoin price of $18,000 by the end of February 2021.