Bitcoin to Reach $66,000 by December- Crypto Experts
A panel of crypto experts has predicted that Bitcoin will overtake the dominant form of finance globally by 2050
They also predicted that the coin will be trading at $66,000 before the end of 2021
The panel however predicted that the flagship cryptocurrency will fall to $25,000 before finding a floor
It has been a mixed year for flagship cryptocurrency Bitcoin. After reaching an all-time high of $64,000 in April, the cryptocurrency has fallen back to $31,000.
A panel of crypto experts have predicted that the flagship cryptocurrency will overtake the dollar as the dominant form of finance in the world by 2050.
This will put the value of the cryptocurrency at $66,000 by the end of 2021.
According to Forbes, one panelist Joseph Raczynski said that he expects BTC to overtake the dollar by 2025 by reaching a value of $150,000.
Raczynski said that he expects many countries to follow in the step of El Salvador and adopt Bitcoin as their primary currency choice.
Despite this, the panel doesn’t believe that the fall is over. The consensus is that Bitcoin will drop further to $25,000 before finding a floor.
Overall, 54% of the panel expect BTC to eventually overtake fiat currency while 44% don’t expect it to ever become a dominant form of finance globally.
At the time of this report, Bitcoin is trading at $31,600 with a market cap of $594 billion.