Bitcoin (BTC) Price Predictions • Bull & Bear • Benzinga

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Since its inception, Bitcoin shocked the world with amazing profits – and steep declines. With its latest move, this crypto giant has surprised investors again.

As the world’s first and largest cryptocurrency, Bitcoin (BTC) represents the face of the crypto industry for onboarding participants. And with its sheer dominance, Bitcoin’s movements up or down can determine the direction of the entire altcoin market.

Although Ethereum (ETH) and competing smart contract platforms are sparking renewed interest in the altcoin market, investors remain focused on Bitcoin’s next step. But what is Bitcoin exactly? And what makes this cryptocurrency so valuable?

As Bitcoin is accepted as a form of payment by a growing number of merchants, merchants around the world are asking an increasingly important question: How high can Bitcoin go?

What is bitcoin

Bitcoin is simply a distributed ledger technology. Created anonymously by an engineer under the pseudonym Satoshi Nakamoto, the technology behind Bitcoin was first described in 2008.

By sending and receiving the associated coin without permission, Bitcoin forms the basis for decentralized financial transactions (DeFi). With a proof-of-work system for mining and an upper limit of 21 million coins, the Bitcoin whitepaper describes a mechanism to create incentives for participation in the network.

But for its millions of users around the world, Bitcoin is simply electronic cash. And without a centralized institution to authorize transactions between parties, Bitcoin represents a revolution in modern payment systems.

Proof of Work vs. Proof of Stake Consensus

Depending on who you ask, the consensus on Bitcoin’s proof of work can be the biggest downfall of cryptocurrency. Essentially, Proof of Work uses huge amounts of power and expensive hardware to secure its network. Conversely, the Proof of Stake uses financial stakes to verify transactions, reducing energy consumption by over 99%.

Not only that, some analysts go so far as to label the proof of work as obsolete technology. Proof of Work can only process a few transactions per second, which makes it difficult to scale PoW blockchains. This is in contrast to PoS consensus, which can often process more than 1,000 transactions per second. Ethereum, the second largest cryptocurrency by market capitalization, is in the process of migrating its blockchain from PoW to PoS consensus.

Bitcoin market position

Bitcoin is currently trading near $ 46,500. With a market capitalization of over $ 871 billion, Bitcoin alone represents more than 40% of the crypto market. Although Bitcoin is well below its highs from early 2021, it has made solid gains over the past month. Nonetheless, a recent market decline has caused the price of Bitcoin to drop 12% overnight, questioning traders as to whether the cryptocurrency is really the store of value that its proponents claim.

Given how new blockchain technology still is and how dominant Bitcoin is in the market, there should be no doubt that the original cryptocurrency still has room to grow. However, as smart contract platforms like Ethereum evolve, Bitcoin runs the risk of being viewed as an outdated relic.

Expectations for future growth can depend largely on an influx of new investments. And Bitcoin is well positioned to attract the lion’s share of cryptocurrency investment. However, to better understand Bitcoin’s potential, the predictions made by top analysts can help shed some light on the future direction of this crypto.

Plan B’s Bull Case for Bitcoin

With over 25 years of experience in the financial markets, strategic analyst Plan B has made an optimistic forecast for Bitcoin and sees the potential for the coin to reach $ 100,000 by the end of 2021. Using a stock-to-flow cross-asset (S2FX) forecasting model, Plan B sees Bitcoin parabolic growth in the near future.

Mr. Whales bear case for Bitcoin

Popular Twitter influencer and Bitcoin forecaster, Mr. Whale, has presented an extremely bearish outlook for Bitcoin. Assuming Bitcoin has already peaked, Whale predicts a bleak future for the world’s largest cryptocurrency in the near future. He sees Bitcoin drop to $ 7,000 as early as 2022.

Where can you buy bitcoin?

If you’re wondering where to buy Bitcoin, the answer is simple. The best way to buy Bitcoin is on a trading platform that supports it. However, depending on your location, the exchange options available may be limited.

Some of the most trusted trading platforms for US consumers include Coinbase, Gemini, Voyager, and Each of these exchanges use the latest in security to keep your assets safe.

How long does it take for Bitcoin to hit $ 100,000?

Despite a recent downturn, analysts continue to advocate a possible spike in Bitcoin to $ 100,000 and beyond. And if institutional interest continues at its current pace, some might say it could happen as early as this year.

The increase to $ 100,000 would more than double from its current price, pushing Bitcoin’s market cap to an almost unbelievable $ 1.88 trillion. And while betting against Bitcoin is an inherently risky strategy, it can make sense to dampen our expectations for future profits.

Where can you keep Bitcoin safe

Whether you’re looking for connectivity or security, the variety of wallets to be found online has expanded with the cryptocurrency market. With the selection of hardware and software variants, the following wallets represent the most serious options for crypto consumers.

Best hardware wallet: Ledger

As the ultimate option for securing your digital assets, Ledger is the most trusted name in hardware wallets. Your private keys are stored on the physical device itself using state-of-the-art security, so that you have complete ownership of your cryptocurrencies.


Best software wallet: ZenGo

ZenGo has completely abolished private keys. ZenGo’s software wallet uses facial biometrics to secure your crypto and has everything you need – with no additional fees!


With El Salvador officially accepting Bitcoin as legal tender, the original cryptocurrency has reached a significant milestone. Should this experiment of decentralization prove useful to the nation in the coming months, the impact on the price of Bitcoin could be incredible.

Current crypto prices

The market recently took a step back, dropping Bitcoin and most other cryptocurrencies by over 12% in a single day. While prices appear to be stabilizing, the effects of the recent market shock are likely to continue for the near future.

Bitcoin’s dominance is currently 42.1% and is on the decline as smart contract platforms continue to take market share from the world’s largest cryptocurrency. And as DeFi applications evolve on alternative platforms, the future of Bitcoin as the king of cryptos becomes unclear.

So is Bitcoin a good investment?

As the undisputed champion of the crypto universe, Bitcoin represents the ultimate store of value for its investors. And with its recent adoption as legal tender by El Salvador, Bitcoin has emerged as a competitor to traditional fiat systems.

Still, the volatility of the cryptocurrency market poses an inherent risk for traders. And while many analysts expect the currency to reach new heights, Bitcoin’s future is far from certain. The decision to hold Bitcoin as part of your portfolio depends on your own convenience with the risks involved.

For many, Bitcoin is a trustworthy vehicle for building wealth. Therefore, stacking coins during market collapses remains a sensible investment strategy.

Benzinga has developed a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offers, prices and promotions, customer service, mobile app, user experience and benefits, and security. To see a full breakdown of our methodology, please visit our Cryptocurrency Methodology page.

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