Bitcoin could skyrocket to $300,000 by end of 2021 – ‘not out of the question’

Cryptocurrency investment analyst Willy Woo tweeted: "My Top Model suggesting $200,000 per bitcoin (£149,419 per bitcoin) by the end of 2021 looks conservative, $300,000 (£224,128) is not out of the question." The investor has studied the bitcoin price models and announced last week that the bitcoin market had "never been so bullish for 2021". Analysing the bitcoin market cap gain per US dollar invested he added that the trajectory is "pointing to reflexivity increasing, an amplified 2021 bullish feedback loop".

The global stock market cap is also bullish.

Market analyst Holger Zschaepitz argued global stocks are on course for a historic $100trillion (£74trillion) mark.

The global stock market gained $2.1trillion (£1.57trillion) last week on vaccine news.

However, bitcoin pioneer Max Keiser suggests this sudden hike is due to debt monetisation with increased government borrowing from central banks.

READ MORE: Bitcoin price could rocket to '$1,000,000' as big institutions buy directly from miners

Speaking to he said: "It is worth noting that a bullish impulse that sends these cryptocurrencies above the recent highs may be strong enough to ignite FOMO (fear of missing out) among market participants.

"Only a daily candlestick close above $19,956 (£14,909) for bitcoin and $639 (£477) for ethereum will invalidate the bearish outlook.

"Under such circumstances, bitcoin could rise to $24,000 (£17,930) and ethereum to $800 (£597) or higher."

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