Is Now the Right Time to Buy Bitcoin? – Finance Magnates

After surpassing $34,000 yesterday, Bitcoin hit yet another record high – the latest of many in December. Some analysts are betting that Bitcoin is not going to stop anytime soon. Therefore, it may be some time yet before hopeful buyers can jump into BTC at a lower price.

via CoinMarketCap

For example, Antoni Trenchev, the Chief Executive of London-based crypto lending firm, Nexo, told LiveMint that he believes the digital asset will “be on the road to $50,000 probably in the first quarter of 2021.”

Bitcoin in 2021: $50K, $100K, $500K?

Tom Lee, Managing Partner and the Head of Research at Fundstrat Global Advisors, also has bullish predictions for Bitcoin. On Wednesday of last week (before Bitcoin hit its latest high of $34K), Lee said that he believes bitcoin will surge another 300% in 2021.

In a Tweet, Lee pointed out that because of the halvening that took place last year, 2020 was a lot like 2016 in the BTC world. Therefore, he believes that 2021 could be a lot more like 2017 when Bitcoin’s previous all-time-highs were set.

Thus, Bitcoin could see a “parabolic rise” in 2021, Lee tweeted.