Bitcoin price in line to hit $100k by December, analyst emphasizes

TL;DR Breakdown

• Bitcoin price to cross $100k by December, Chainalysis boss predicts.
• Global adoption of BTC to push crypto price to that height by Dec.
• Bitcoin critic, Peter Schiff believes in this prediction.

Michael Gronager, CEO of crypto and blockchain analytical firm, Chainalysis have predicted that by December 2021, Bitcoin price will hit and possibly surpass $100,000. He is the latest crypto bigwig to make the prediction.

His Bitcoin price prediction corroborates that of Kraken CEO Jesse Powell. The CEO in August said that the crypto market was still in the early bull cycle, and Bitcoin, by January 2022 or December 2021, would trade at over $100,000.

Michael Gronager, during an interview on a Friday with Bloomberg, also stated that currently, the crypto market is bullish.

The Chainalysis boss while speaking during the interview said currently, the crypto market is still on a bull run.
“I think we are still in the bull market. I think we can see above $100k by the end of the year, so I would be bullish on that as well. Long term, I would probably usually say the Moon is the limit, but we can go beyond that as well.”

Other analysts’s Bitcoin price predictions

Apart from the Chainalysis boss and Kraken CEO, analysts like Kevin Wadsworth of Northstar & Badcharts, Jordan Belfort, also known as the Wolf of Wall Street, Blockstream CEO Adam Back, Florian Grummes, have predicted that by December, Bitcoin will hit $100,000.

Surprisingly, popular Bitcoin-critic Peter Schiff also stated that the Bitcoin price could reach $100,000 or $1 million.

They all cited several reasons for their bullish stance on Bitcoin. Belford explained that BTC now has a “much bigger base of buyers than ever before,” and for that reason, he sees the price hitting $100,000.

For Adam Back, he said the coin would hit $100,000 because it had hit global acceptance, and deployment of Bitcoin had reached a satisfying level; hence $100,000 was imminent.

BTC hitting $100k has been a debate among crypto enthusiasts, with many waiting for it to cross that point.