Bitcoin has repeatedly broken fresh ground this year, doubling from its price of just under $30,000 per bitcoin at the start of 2021 to almost $65,000 earlier this month.
The blistering 2021 bitcoin price rally has slowed since late February as bitcoin traders and investors try to call the top of the market.
Now, an expert panel has predicted the bitcoin price will climb to just over $100,000 per bitcoin in 2021—with almost a third of the panelists surveyed forecasting bitcoin could climb past $120,000.
The bitcoin price could soar up to $107,484 at some point during 2021, according to the panel average, with the majority of the 35 panelists (58%) identifying institutional investors as driving the price rally, compared to 24% who say it’s retail-driven and 18% by large bitcoin holders known as whales.
“Institutional investment will continue to drive the price up, but $100,000 is a psychological barrier that even institutions will find too high,” said panelist Paul Ennis, assistant professor at University College Dublin, in a statement alongside the findings.
Just over half (51%) of the panel, made up of academics and cryptocurrency industry figures and surveyed by personal finance comparison site Finder, think that
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