A recent report from Citibank noted that Bitcoin could be worth as much as $318,000 by December.
I personally believe $100,000 per Bitcoin is inevitable by the end of 2021.
And while $318,000 is towards the upper end of my short-term price targets, it’s certainly attainable.
A lot of people have been asking me why Bitcoin has been going up lately.
The answer is surprisingly simple: It’s a function of supply and demand.
You see, the market is beginning to feel another “supply shock” as the number of new Bitcoin mined per day cut in half for the third time on May 11, 2020.
These are known as “halvings” and the last two times this happened, massive bull markets ensued over the following 6-18 months (hence the start of the bull market now and the $318,000 prediction by December 2021).
Halvings, combined with Bitcoin’s finite supply of 21 million units, are what makes Bitcoin deflationary relative to inflationary government money being printed at free will in an unlimited fashion…
But while most people are talking about Bitcoin, they’re missing out on potentially larger gains from “altcoins.”
Altcoins are “alternative coins / cryptocurrencies” to Bitcoin that typically rise when the price of Bitcoin rises.
While Bitcoin is up 92% year-to-date, the largest altcoin in the world, Ethereum, is up 359% – just as one example.
And there are certainly other altcoins with higher returns than Ethereum.