Nigel Green predicts Bitcoin could hit $100,000 by the end of 2021

Nigel Green, CEO and founder of financial advisory and fintech, deVere Group has predicted that Bitcoin could hit new all-time highs of $100,000 by 2021 ending. He made this prediction, following a strong week finish in the crypto sector that saw Bitcoin gaining almost 10.8% in 24 hours, on Friday evening. And by Saturday morning, the price of the world’s largest digital currency was almost $47,800.

Recall that Green had earlier predicted in September, that the price of Bitcoin should hit or even surpass the all-time high of $65,000 that it reached in Mid April, by the end of 2021. However, going by his latest prediction, that earlier expectation is appearing to be too conservative.

He posits that if the current momentum in price is sustained, Bitcoin could even reach a never-before-seen high of $100,000. And according to the CEO, as established as Bitcoin already is, in the global financial system, achieving this would be a landmark event..

Nigel Green identifies 5 key drivers of the momentum fuelling the surge in Bitcoin price

First on this list, is last week’s announcement by the Federal Reserve. In the announcement, the U.S. made it clear that it doesn’t intend to ban cryptocurrencies. Green believes that although, other digital currencies are under serious regulatory scrutiny, Bitcoin stands aloof because of its gold-like status.

Secondly, there’s a continuous show of interest by institutional investors. The benefit is that, these institutions like the Wall Street giants carry a lot of capital, reputation, and more importantly, their expertise.

Another key factor that Green identified is the commitment of mega influencers like Tesla’s Elon Musk and Twitter’s Jack Dorsey. These mega influencers have been using their voices to send the clear message that crypto is the inevitable money for the future.

Fourth factor according to Green, is history. He believes that, every year there’s a Bitcoin halving, the values increase quite significantly in the following year. Citing 2012 and 2016 halvings, where prices rose by 55 and 15 times respectively, then this prediction could well be on course too. The events of 2020, still fresh on our minds, could mean that $100,000 Bitcoin price is within reach.

Green’s last key factor is that cryptocurrencies have already reshaped the way the world transacts.

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