“I’d Be Surprised If Bitcoin Doesn’t Cost $ 50k In 2021”
Capriole Investments announced its 2021 forecasts for the price of Bitcoin in a press release. Meanwhile, Capriole founder Charles Edwards tweeted that, like the Bitcoin Investment Management Company, “I’d be surprised if the BTC price doesn’t cost at least 50 thousand dollars.”
Bitcoin fund Capriole Investments released a statement sharing its bitcoin price forecasts for 2021. After the halving in May this year, Capriole noted that historically, in the 18 months after each half, there has been a strong increase in the price of BTC.
According to Capriole, BTC performance in the last 6 months has been clearly in line with this forecast. Capriole, who said 2021 had been entered with great confidence, claimed that the remaining 12 months would bring a similar rise. Capriole Investments believes that the BTC price for the Bitcoin 2021 forecast may be in the range of 100 thousand to 200 thousand dollars, and he shows his faith by saying, “I would be surprised if the Bitcoin price would not be at least 50 thousand dollars.”
What indicators is this forecast based on?
In his post, Capriole also addresses the key indicators on which these forecasts are based. Capriole, who suggests that hash strips for Bitcoin show a strong picture, underlines that this is a positive price momentum.
Noting that corporate interest is skyrocketing, the company notes that open positions in CME have increased by more than 1000% in 2020 and are currently worth $ 1.5 billion. The company also predicts that corporate investment in Bitcoin will continue in 2021.
Looking at the Capriole technical frameworks, he emphasizes that breaking over 20 thousand dollars for BTC is very important in the long term. Although Capriole believes that Bitcoin can retest $ 20k in the short term, he also says that there are many supports in the region of $ 19k- $ 21k. Seeing an all-time high could invite more records, the company says, fuelling upward momentum.