Cryptocurrency investment analyst Willy Woo tweeted: “My Top Model suggesting $200,000 per bitcoin (£149,419 per bitcoin) by the end of 2021 looks conservative, $300,000 (£224,128) is not out of the question.” The investor has studied the bitcoin price models and announced last week that the bitcoin market had “never been so bullish for 2021”. Analysing the bitcoin market cap gain per US dollar invested he added that the trajectory is “pointing to reflexivity increasing, an amplified 2021 bullish feedback loop”.
The global stock market cap is also bullish.
Market analyst Holger Zschaepitz argued global stocks are on course for a historic $100trillion (£74trillion) mark.
The global stock market gained $2.1trillion (£1.57trillion) last week on vaccine news.
However, bitcoin pioneer Max Keiser suggests this sudden hike is due to debt monetisation with increased government borrowing from central banks.
Speaking to Express.co.uk, Mr Keiser said: “It’s been estimated that half of the value of stocks is attributable to central bank money printing and executive stock buybacks.
“This masks the fact that 20 percent of listed US companies are ‘zombies’, their interest costs are greater than revenues, and the profits for most of the rest are actually falling.”
Konstantin Anissimov, executive director of CEX.IO, has spoken about the current bullish impulses in the bitcoin market.
He maintains that if bitcoin maintains its current price we could witness a surge of investment from “market participants” who might fear missing out on the next bull-run.
Speaking to Express.co.uk he said: “It is worth noting that a bullish impulse that sends these cryptocurrencies above the recent highs may be strong enough to ignite FOMO (fear of missing out) among market participants.
“Only a daily candlestick close above $19,956 (£14,909) for bitcoin and $639 (£477) for ethereum will invalidate the bearish outlook.
“Under such circumstances, bitcoin could rise to $24,000 (£17,930) and ethereum to $800 (£597) or higher.”