Ladies and gentlemen, Bitcoin is back!
Despite the critics claiming it was dead after the 2018 crash, Bitcoin roared back to life in 2020 and has started 2021 strong. It has blown past its previous all-time highs of $20,000 and at the time of writing, it’s flirting with $40,000.
I’ll also tell you what some of the most bullish (optimistic) price predictions are. Yes, it’s that time again when everyone and his dog has a Bitcoin price prediction, but I promise to only share credible ones with you.
Are you ready to find out what the potential upside of Bitcoin is and how you can get some without plowing tens of thousands into it? Keep reading.
Why Is Bitcoin Going Up So Quickly?
The truth is, nobody knows why Bitcoin does what it does.
With that said, there are a few logical explanations for why the Bitcoin price is surging.
- Money Supply – Central banks around the world have been printing money like there’s no tomorrow. This has caused a huge influx of money into the world economy, and naturally, some of that finds its way into cryptocurrencies. Since crypto is a relatively tiny market (it just passed $1 trillion), it only takes a few hundred billion dollars to move Bitcoin’s price substantially. In a world where the United States alone printed more dollars in June 2020 than in its first 200 years as a nation, it’s not difficult to see how tens of billions might find its way into cryptocurrency.
- Supply Shock – Every four years, Bitcoin goes through an event known as the halving. In a nutshell, every 10 minutes, new blocks are mined, and new Bitcoins are created. Every four years, the number of new Bitcoins halves. In May 2020, the latest Bitcoin halving reduced the “block reward” from four to two new coins in each block. After every halving event in Bitcoin’s history, its price has increased dramatically.
- Institutional Interest – Even in the last major Bitcoin bull market, when its price topped out at $20,000 before crashing back to a low of $3,000 in the years that followed, it was mostly small punters like you and I driving the pierce with our Coinbase retail accounts. That’s no longer the case. Major players have entered the Bitcoin game. Billionaires and institutions such as pension funds are buying more coins than are being mined, and supplies are quickly drying up on exchanges. For example, Microstrategy CEO Michael Saylor recently decided to make Bitcoin the company’s treasury reserve asset. He’s put $1.1 billion into Bitcoin in the last few months alone, including over $600 million he borrowed.
I believe all three of these factors are at play, and this could well create the perfect storm for a Bitcoin price rise like we’ve never seen before. Whether this plays out remains to be seen, but I’m mighty bullish right now, and I’m wagering small amounts at my favorite Bitcoin betting sites in an effort to increase my total number of Bitcoins.
The Five Most Bullish Calls for Bitcoin
Before I tell you a few potential ways to win some bitcoins, I want to share some of the most bullish Bitcoin price predictions. I’m a long-term Bitcoin holder, but even I can’t quite bring myself to believe what I’m reading right now.
- Anthony Pompliano – Morgan Creek’s infamous Bitcoin bull, otherwise known as “Pomp,” has battled it out with plenty of skeptics on CNBC and elsewhere for years. Pomp sees Bitcoin reaching $100k per coin in 2021 but says it could go a lot higher if it starts to rapidly catch up with gold. This man has a daily newsletter with 100k subscribers. He lives and breathes Bitcoin, so it’s fair to say that he knows what he’s talking about, if nothing else.
- Plan B – Who the heck is Plan B? That’s a great question, and lots of people would like to know. In short, it’s a Twitter handle of a Dutch financial quant who claims to have unlocked the secret to predicting Bitcoin’s price: the stock-to-flow ratio. This looks at how many new Bitcoins will flow into the existing supply for years to come. Plan B has gained a cult-like following on social media, and his predictions have been accurate to a scary level since the most recent halving. What’s his prediction? A price of between $100k and $288k before December 2021.
- JP Morgan – Jamie Dimon, the CEO of JP Morgan Chase, has been a renowned Bitcoin bear for years. He’s labeled it an outright scam in the past, but he seems to have changed his opinion this year. Recently, JP Morgan strategists put out a Bitcoin price prediction of $146,000 as a long-term target. The crazy thing is that this is now considered a conservative outlook. A few years ago, this would have been an unthinkable price for Bitcoin to reach.
- Max Keiser – The popular host of the Keiser Report on Russia Today has been one of Bitcoin’s biggest advocates since about a decade ago. Not listening to him when he told us all to buy Bitcoin when it was $1 is one of my biggest regrets. Keiser recently announced his 2020 price prediction: a whopping $220,000 per coin. He nailed it with a 2020 end-of-year $28,000 prediction, and his track record is very impressive. If he’s even close to correct, winning even half a Bitcoin and sitting on it for a year could be highly lucrative.
- CitiBank Analyst – In a report meant for client’s eyes only, a Citibank analyst named Thomas Fitzpatrick said that Bitcoin could reach $318,000 by December 2021. This is one of the most bullish predictions I’ve encountered. Fitzpatrick likened Bitcoin to 21st-century gold and based his prediction on a technical analysis of its previous highs and lows.
How to Win Some Bitcoin Online
Unless you have deep pockets, it’s probably a little late to buy a whole Bitcoin on an exchange.
While you can buy fractions of a Bitcoin, a whole coin is the ticket to the big ride, and for most of us, gambling will be the fastest way to get there. If you have sports betting skills or just want to try your luck in a Bitcoin casino, here are some ways to possibly accumulate Bitcoin quickly.
There are no guarantees. But at this stage, it’s most people’s best shot at getting a whole coin.
- Sports Betting – There are lots of great Bitcoin sports betting sites, and yes, many of them are open to American customers. For example, you could place a wager at BetOnline.ag. This betting site supports Bitcoin and some other alternative cryptos.
- Casino Games – If you’d rather try your luck for a large win quickly, playing casino games is probably your best option. If you win a jackpot on slot machines or go on a winning streak on roulette, you could win a whole Bitcoin within minutes. Is it likely? No, but that’s the whole point of playing casino games online; the unlikely can and does happen.
- Bitcoin Games – There are specific Bitcoin dice sites that let you wager your existing Bitcoins for a chance to win more. Many of these also have Bitcoin faucets, offering small amounts of bitcoin, known as satoshis, for free. If you go down this road, you’ll play a game that involves guessing what number a random number generator will create next.
Bitcoin 2021 Price Summary
Remember, there are no guarantees that you’ll win any Bitcoins at all, but unless you have $40k to spare for a coin or excptional trading skills, it’s the best way to go about trying to get one.
Only time will tell how the story plays out for Bitcoin, but I’m excited for what lies ahead in 2021, and I’ll be trying to win as much BTC as I can until the next cycle. Good luck!